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Not everyone will like this
1332 sats \ 42 comments \ @03365d6a53 10 May bitcoin
but it doesn't matter because it can't be stopped.
THIS IS THE END OF PHOENIX, WALLET OF SATOSHI, MUUN
I mean, why would you give your bitcoin transaction history (and IP address) to some random spook / foreign software company?
Ephemeral ecash wallets, connecting to mints over nostr relays, is how spending wallets should work
Lightning is for mint management. Private bankers, in the truest sense.
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10 sats \ 0 replies \ @helicka1603 15 May
I don't need to be afraid, I only have maybe 2 dollars
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62 sats \ 28 replies \ @SwapMarket 10 May
Cashu requires trust in the mints, so this is a shitcoin, not bitcoin. Monetary base can be easily inflated and cannot be verified.
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1033 sats \ 22 replies \ @_b_o_n_e_s_ 10 May
the point is, phoenix, WoS also require trust. so if you're going to trust parties, trust private parties
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1221 sats \ 12 replies \ @clr 10 May
Phoenix is self-custodial (although not private). Not sure why put Phoenix and WoS at the same level.
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20 sats \ 2 replies \ @03365d6a53 OP 10 May freebie
Phoenix / muun are recoverable indeed, that is definitely a valuable feature
WoS, Blink and other CUSTODIAL solutions are fully deprecated by mints
for phoenix / muun the question is whether the privacy aspects are worth it for the faster transaction times (and connectivity / reliability)
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10 sats \ 1 reply \ @Hamstr 11 May
Mutiny wallet is also self custodial, would you being putting them in the same level?
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10 sats \ 0 replies \ @03365d6a53 OP 11 May
No, Mutiny is great, although force closures are a pain
Haven't tried it with Fedi yet
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0 sats \ 8 replies \ @_b_o_n_e_s_ 10 May
trust not to leak private data that's the point op is making
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110 sats \ 7 replies \ @clr 10 May freebie
I agree. The point I am trying to make is that mints are not self-custodial. You are giving away your precious sats in exchange for eSats issued by the mint.
My understanding is that back in the day private banks would eventually end up rug pulling their customers, which led to the creation of central banks. It looks like these mints might end up the same way. I am not enthusiastic about mints.
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10 sats \ 0 replies \ @03365d6a53 OP 10 May
you are totally right and we are all responsible for educating users about this
ecash is for spending, just like starbucks vouchers
don't keep all your ecash on one mint
for saving, you use your own mint, or swap out to on chain
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10 sats \ 5 replies \ @_b_o_n_e_s_ 10 May
what is being built is being built for transactions
not for saving
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10 sats \ 0 replies \ @_b_o_n_e_s_ 10 May
and if you don't like mints, don't use them
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10 sats \ 3 replies \ @clr 10 May
Please let me reframe that:
What is being built is for people who are/will be too poor to open a lightning channel.
Lightning already works perfectly for transactions.
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10 sats \ 0 replies \ @_b_o_n_e_s_ 10 May
everyone on earth spends money
if you listen or read calle's posts its always about transactions
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0 sats \ 0 replies \ @Bell_curve 11 May
Or too cheap to open a lightning channel
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0 sats \ 0 replies \ @03365d6a53 OP 10 May
it's more:
for people who want privacy, offline tx, or programmable money
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20 sats \ 6 replies \ @SwapMarket 10 May
WoS agree, replaces bitcoin with an IOU, like all the exchanges. Phoenix not so, because the channels can be force closed and bitcoins returned in private custody (after fees and time). Phoenix cannot inflate supply of bitcoins.
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0 sats \ 0 replies \ @Bell_curve 10 May
I have started using ZBD again after Phoenix and WoS quit USA.
And mutiny.
But I love the ease of ZBD
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0 sats \ 4 replies \ @_b_o_n_e_s_ 10 May
sure and if you like giving up your privacy and you dont worry about your personal data being harvested then keep using it then more power to you
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10 sats \ 2 replies \ @SwapMarket 11 May
I run my own lightning node
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0 sats \ 1 reply \ @_b_o_n_e_s_ 11 May
and give all your data to amboss
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10 sats \ 0 replies \ @SwapMarket 11 May
All what data? VPN IP? You have no idea what you are talking about. Better trust some random shitcoins from some random npub?
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10 sats \ 0 replies \ @03365d6a53 OP 10 May
well yes, this is the wider point
with phoenix and muun you have recoverability but no privacy
better to run a private mint
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0 sats \ 1 reply \ @_b_o_n_e_s_ 10 May
or include WoS in your list of shitcoins. and then, go tell that to all the folks using it because they're convinced with their zapathons that their bringing in the revolution
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10 sats \ 0 replies \ @03365d6a53 OP 10 May
WoS is a great wallet
So is Blink
However, in an adversarial environment, ecash will win
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0 sats \ 4 replies \ @jakoyoh629 10 May
Scamable
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0 sats \ 3 replies \ @03365d6a53 OP 10 May
and scalable
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0 sats \ 2 replies \ @jakoyoh629 10 May
and rugable
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0 sats \ 1 reply \ @03365d6a53 OP 10 May
and spendable
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10 sats \ 0 replies \ @jakoyoh629 10 May
not verifiable
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10 sats \ 0 replies \ @nullama 11 May
You can run Phoenix with your own node though, which is different to how WoS and Muun work.
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10 sats \ 2 replies \ @justin_shocknet 11 May
Don't need fiat shitcoin specs and bloated mint overhead to leverage Nostr for Lightning
Run Lightning.Pub and fuck the edollar spooks
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0 sats \ 1 reply \ @Bell_curve 11 May
Mutiny allows you to join a federation in lieu of opening a channel
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10 sats \ 0 replies \ @justin_shocknet 11 May
ShockWallet allows you to layaway a channel with a Lightning Pub
Point?
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10 sats \ 0 replies \ @xz 11 May
Out of the list I've only used Phoenix, and really a great service. I feel thankful to them for providing that awesome service and fortunate I can use it still.
TBH, I haven't had time to catch up with ecash, but totally love what it purports to be. That said, I don't think there would be such a tool if it wasn't for the LSP development in the first place.
We stand on the shoulders of giants.
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0 sats \ 0 replies \ @Kontext 11 May
Wildcat banking making a comeback in a big way
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0 sats \ 1 reply \ @Bell_curve 10 May
Cashu or fedimint or both?
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10 sats \ 0 replies \ @03365d6a53 OP 10 May
both although we've yet to see a proposal for running a fedimint behind a relay without an IP address
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0 sats \ 1 reply \ @clr 10 May
Better to give your sats to some random mint. /s
Not sure why put Phoenix and Muun in the same bag as WoS. The two former are self-custodial. The mints are not.
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0 sats \ 0 replies \ @03365d6a53 OP 10 May
agreed
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0 sats \ 0 replies \ @Scoresby 10 May
Not everyone will like it but it doesn't matter because it can't be stopped.
This is the bitcoin ethos.
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0 sats \ 0 replies \ @premitive1 10 May
muun?
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