71 sats \ 2 replies \ @Malachi17T 17 Oct \ on: SN elects to go noncustodial on Nov. 5th - FAQ & AMA meta
My basic feeling on the matter is this is a forced decision that sucks in terms of allowing value for content. The Cowboy Credits are like a shitcoin with no actual value other than a wooden nickle kind in this ecosystem. After all the stuff I've heard from folks about Trump's crypto offering, it is interesting to me that everyone is more receptive to this.
Having said that, I understand the "why" this is being done, but the solution having no Sat related value is not a good long term solution. A better solution might have been to arrange things such that is impossible for stacker news to "KYC" at all. If someone zaps or doesn't zap in such a system, well then, that is of no relevance and is more in keeping with the original vision of Bitcoin.
I understand the "why" this is being done, for those who don't, care to explain? what changed from "yesterday"...?
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for those who don't, care to explain?
Serving US customers as a bitcoin custodian - legally - requires KYC and millions of dollars in licenses.
We don't want to KYC you, so we're are going noncustodial.
what changed from "yesterday"...?
We've been working on this since late last year. It's been an ongoing discussion here since then.
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