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Haha. Nope. Adam migrates all users to a self-custodial Coinos v3 to avoid legal liability, but that comes with a cost. See this video:
Or move your sats to Coinos.pro - the Coinos original idea.
ewl gross. so eventually id guess us legacy wallet users will get forced into this ?
That has not been confirmed as far as I can see.
Perhaps @SwapMarket is scaremongering?
Fair enough- Will wait until I'm forced then make the move.
Hopefully a few years away.
By then any teething problems should be mostly sorted.
Suspect Coinos have been put under the scrutiny of government regulators due to pressure from competitors who can't compete with Coinos' very effective low cost easy to use product.
Surprisingly I've had no issues with regulators it's more the constant threat of attack that bothers me
Sorry, I misunderstood the motivation. Why will v3 be less vulnerable to the attacks? How a v3 user unilaterally exit if coinos.io goes down?
v3 ships a downloadable standalone html page that you can run as a client in your browser even if our server disappears. Your data is encrypted and backed up on nostr. You should be able to use the client html page to exit your funds even if our server is offline.
So the new wallets decentralise custody and reduce risk exposure?
Maybe if enough people move to the new wallets the old ones can continue indefinitely for newbies who are not technically competent yet to go it alone with managing their own wallet.
Is the new v3 (self custody?) wallet much more difficult to manage compared to the old legacy wallet where you manage custody?
P.S. its great coinos users now have these increased options to choose from and thanks for making it possible.
Regarding custody yeah I'd say it gives users more control of their funds. You can choose to pay some fees to have the right to unilaterally exit your layer 2 funds to bring them on-chain without co-operation from the Coinos server or you can avoid fees and rely on Coinos to co-sign everything, similar to the old site.
I wouldn't say v3 is more difficult to manage. In fact I'm hoping it will be easier.
My coinos.io wallet is still working exactly the same as ever - no change.
For now the migration is voluntary
But you said 'Adam migrates all users to a self-custodial Coinos v3 to avoid legal liability'
So what is the truth?
Is migration compulsory at some indeterminate point in the future, or not?
My plan is to move the old custodial Coinos to v2.coinos.io and keep it online there for a while but I will eventually sunset it. I don't have any solid timelines in place at this point.
yes. what's ark? I thought this was a simple custodial lightning wallet