50 sats \ 5 replies \ @CoSatoshi 17 Jul 2023 \ parent \ on: Does anyone still use Muun wallet? bitcoin
In other words, it's intuitive and easy to use. Ideal for newcomers (which I'm not).
Get over it. Custody wallets are going to have a role in the transition period. Stop being a dogmatic tightwad purist.
Its not dogmatic holy fuck.
Custodial failure points:
rehypothecation
theft
censorship
There are real failure points of custodians I can point to with large macroeconomic effects at scale. Familiarity is not the standard for user experience.
reply
Lolz "it's not dogmatic see here's a bunch of dogma" 🤡
reply
What the flying...are we using the same language right now?
dogma
noun
dog·​ma ˈdȯg-mə ˈdäg-
pluraldogmas also dogmata ˈdȯg-mə-tə ˈdäg-
Synonyms of dogma
1
a
: something held as an established opinion
especially : a definite authoritative tenet
b
: a code of such tenets
pedagogical dogma
c
: a point of view or tenet put forth as authoritative without adequate grounds
2
: a doctrine or body of doctrines concerning faith or morals formally stated and authoritatively proclaimed by a church
In other words "Here is something you must believe because I as an authority tell you to believe it without question"
Stop me now if you don't agree with that definition.
So I then gave provable pain points of custodians. That you see those pain points as being "dogmatic" says to me that you see rehypothecation (which basically allows the custodian to create money) as an acceptable thing (even though it follows with failure such as we saw with FTX and Celsius)
It says to me that you see theft by a custodian as something to be acceptable
It says to me that censorship by a custodian is something to be acceptable (and this one I can see people agreeing with. There are people who believe this should be a thing and you can put yourself in that situation all you like, but I'm not putting myself there)
The rehypothecation failure point is way bigger than that though because it doesn't just affect your and your money, it affects everyone.
reply
I'll take 1c. for 10,000 sats, Alex.
reply
So you're basically saying the verifiable reasons I pointed to for why we should avoid custodians are not adequate grounds for you.
reply