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268 sats \ 7 replies \ @TheBTCManual 21 Mar 2023 \ on: 95% of zaps are from custodial wallets. We can do better bitcoin
100% of SN sats are custodial :P so what?
So what? I'm sure @k00b doesn't want to be legally liable for being an unregistered money service business, to open himself up to hacks stealing user funds, to be responsible at all for their money, or to see every transaction coming in and out of each user account. It doesnt matter how much it is, its fucking 2023, quit telling people to use custodians.
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He can just switch the backend to be an eCash mint, calm your tits
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Do eCash mints mitigate any of the legal liability as far as we know?
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I doubt it reduces your legal liability, only deniability of how users are storing and moving funds, maybe if was a federated mint with members geographically dispersed, it could, but I am no legal expert.
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Running the site from a corporation registered in Belize would.
I’m not even memeing. Sideshift, Exch, and so on are Belize corporations.
Good country to run a non-KYC crypto platform especially when no fiat is involved.
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They're not meant as wallets - they're meant as a hot / short term balance for using the site.
If someone keeps his life savings on a social media buffer ... It's his own fault
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Completely agree from a user standpoint, sure apps can have support for connecting to your LNDhub or something like that if you never want to trust anyone.
I think the big thing is either companies rug users or governments can capture company to rug users, but like you say its minimized by not having a large amount of sats on any one service
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