reply on: SN elects to go noncustodial on Nov. 5th

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303 sats \ 16 replies \ @ek 21 Oct \ parent \ on: SN elects to go noncustodial on Nov. 5th - FAQ & AMA meta

So if I zap someone who doesn’t have a wallet attached it automatically gets converted to cowboy credits to stay in SN forever never to be withdrawn?

Yes with the exception that Cowboy credits slowly become sats through rewards again

0 sats \ 14 replies \ @DarthCoin 22 Oct

so daily rewards and other rewards are not also "money transmission" ? Or you have a special license for cowboy credits?

21 sats \ 13 replies \ @k00b OP 22 Oct

Rewards are just us sending you our own money which isn't money transmission. I know you're just trolling, but I figured I should reply for anyone reading.

21 sats \ 12 replies \ @DarthCoin 22 Oct

Is not trolling. Is a genuine question.

sending you our own money

Sending is still transmission...

142 sats \ 11 replies \ @0xbitcoiner 22 Oct

Money transmission is the act of one party receiving currency for the purpose of sending it over to another party.

https://www.moderntreasury.com/learn/what-is-money-transmission

0 sats \ 10 replies \ @DarthCoin 22 Oct

So what is if I donate 1000 sats to the SN pool and then SN is sending those sats to others? Is not transmitting?

21 sats \ 4 replies \ @k00b OP 22 Oct

It's not - according to lawyers. I've told you that already.

0 sats \ 2 replies \ @supratic 22 Oct

Cannot you run it as a PMA or something else?

21 sats \ 1 reply \ @k00b OP 22 Oct

What's a pma?

view replies

0 sats \ 0 replies \ @DarthCoin 22 Oct

how convenient...

21 sats \ 4 replies \ @0xbitcoiner 22 Oct

If you donate 1000 sats it's like buying 1000 cc's. rewards are not considered money transmission. You're missing the @Lux pills! Ahahahha