I believe CoinOS will resolve itself, but this screenshot is a rug pull 💨 \ stacker news ~lightning

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I believe CoinOS will resolve itself, but this screenshot is a rug pull 💨

411 sats \ 71 comments \ @realBitcoinDog 13 May lightning

Many SN users affected

Suggesting this is a rug is very bad faith. I'm on the Telegram group and the guy is ALWAYS answering to requests from users and everyone is quite happy with the product and the way it's handled. Once they found the problem they immediately disclosed to everyone and are trying to fix it.

I have some sats on Coinos and I fully understand it's a custodial service and there are risks, if you don't understand it that's your problem.

What saddens me is that people trying to build cool things are immediately crushed once there is an issue.

Anon what are your products and what have you done for the community?

15 sats \ 1 reply \ @nout 20h

I understand your sentiment and I don't think coinos will rug pull. At the same time actual rug pulls have exactly the same story.. "these guys were so helpful in their support channels, they got me really excited. I bet they are working really hard to resolve the issue, but somehow now they are no longer replying, it's probably ok, right?"

Read the replies from victims of actual rug pulls in the past and this is what you will find...

0 sats \ 0 replies \ @ek 20h

Mhhh, also good point, haha

34 sats \ 0 replies \ @ek 22h

Suggesting this is a rug is very bad faith.

Good point, throwing around serious accusations for fun isn't fun.

0 sats \ 0 replies \ @Signal312 17h

I got a response from him today. He's working on it, and he's one person who's provided a great service for...I don't know, it's been at least 6 months or so.

Everyone knows not to put too much faith in custodial services. I didn't have more on there than I would have been willing to lose.

65 sats \ 9 replies \ @realBitcoinDog OP 13 May

@ek is there a way to pay the territory fee as an invoice so I can pay with primal?

@grayruby @Undisciplined @Aardvark

10 sats \ 1 reply \ @k00b 13 May

If you're already KYC'd into Primal, you can just replace you CoinOS NWC send with one from Primal, and your lightning address with Primal's.

13 sats \ 0 replies \ @ek 13 May

Oh, good point

13 sats \ 0 replies \ @ek 13 May

Disable all sending wallets and a QR code should show up

0 sats \ 5 replies \ @Undisciplined 13 May

You still haven't gotten your Coinos sats back? Are you all just fucked?

79 sats \ 4 replies \ @DarthCoin 13 May

You still haven't gotten your Coinos sats back? Are you all just fucked?

You guys still do not run your own fucking nodes? SUCH LOSERS

10 sats \ 3 replies \ @Undisciplined 13 May

I do and I think RBD only had sats on there temporarily to pay upcoming territory rent.

17 sats \ 2 replies \ @DarthCoin 13 May

he is crying like a baby showing that his few sats on coinos are the only ones that could use.

I can pay with primal?

Just look at this... still using another custodial shit. People will never learn the lesson. Too much drama and noise for nothing. RUN YOUR DAMN LN NODE !

20 sats \ 1 reply \ @Undisciplined 13 May

I'm surprised you aren't being a Cowboy Credits maxi about this.

Clearly he should have built up a huge stash of Cowboy Credits for rent payments.

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141 sats \ 2 replies \ @Wumbo 13 May

I am not happy that the outage and backup failure occurred but:

I do like the way they did the UI to communicate the issue. "You have this much locked vs unlocked Sats."

Time will tell if it becomes a "rug pull" but so far they seem to be fairly transparent in resolving the issue.

I struggle to think of what I would do differently, if was the person running the service

20 sats \ 1 reply \ @SimpleStacker 13 May

I'm not sure what you can do. How realistic is it to freeze funds until you can figure out who owes what? It seems like an impossible task... and even if you do figure it out, there will be questions about whether it's accurate.

I'm not sure what'd I do in this situation. Seems like a bad situation all around.

10 sats \ 0 replies \ @Bell_curve 13 May

I know users are frustrated but they seem to be patient.

CoinOS is managed by one person

41 sats \ 3 replies \ @DarthCoin 13 May

I always said: for what is worth it... CCs are perfectly fine for a "pay to post" place like SN and much safer and cheaper than any custodial account attached to SN.

But yeah... people are calling Darth crazy... but you cannot ignore the consequences of my advice.

21 sats \ 2 replies \ @Undisciplined 13 May

I feel like the meme would be better if Pam had a Vader mask on.

0 sats \ 1 reply \ @DarthCoin 13 May

maybe is @plebpoet 😂😂😂😂😂 ?

10 sats \ 0 replies \ @Undisciplined 13 May

I can see that

21 sats \ 0 replies \ @TheBTCManual 13 May

Lol as long as your sats lost is cheaper than buying a Pi4 or running a cloud node you stiill coming out ahead

17 sats \ 0 replies \ @byzantine 13 May

even if they don't rug users, I'm pretty sure this is the end of their business. Nobody is gonna recommend it.

10 sats \ 0 replies \ @justin_shocknet 13 May

What a shame, they could have used Lightning.Pub as a back-end and streamed the transaction logs to a second instance for instant recovery

10 sats \ 0 replies \ @flat24 13 May

For now everything seems transparent, I agree with the comment of the friend @Wumbo

We hope to see how it is solved, on the other hand always keep in mind that this was a service where custody did not have, so I only use it as a vault to keep.

preventing any failure that leads me to a significant loss of funds.

221 sats \ 0 replies \ @anon 13 May

If it's resolved it's not a rug pool. You were using a bank you weren't paying for. What did you expect? If anyone is attemtping a rug pull here, it's you. You just failed.

100 sats \ 0 replies \ @Car 23h

The rugs will continue until people realize Bitcoiners are also after your Bitcoin this cycle.

10 sats \ 28 replies \ @028559d218 13 May

Why don't you guys just use zeus wallet. Or phoenix. Or one of a number of non-custodial options? They work great and integrate well.

34 sats \ 2 replies \ @realBitcoinDog OP 13 May

I used to use phoenix until they left USA

I need an “attached” wallet that can connect to SN

5 sats \ 0 replies \ @nout 13 May

Phoenix is back in US

0 sats \ 0 replies \ @cryotosensei 13 May

Blink works

0 sats \ 24 replies \ @kepford 23h

Phoenix works as an attached wallet? I was unaware of this. Its lightning address is experimental and when I tested it never worked.. but I'm curious about what you are talking about here.

Zeus uses hodl invoices for lighting addresses which people don't like (me included).

73 sats \ 23 replies \ @siggy47 21h

In my experience lightning addresses in general do not work well as an attached SN wallet

36 sats \ 13 replies \ @028559d218 20h

I mean... they do though? Lightning addresses have always worked for me...

0 sats \ 10 replies \ @siggy47 20h

Perhaps I should have emphasized it is my experience. I do recall @k00b saying there was an issue with using some LN addresses as an attached wallet too, but that was a while ago. Maybe things have improved.

106 sats \ 9 replies \ @k00b 20h

Unless you're using ecash with Zeus, Zeus lightning addresses still require you to open the app to accept a zap.

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0 sats \ 1 reply \ @kepford 20h

They do work but he was using Zeus which has hodl invoices which aren't super reliable in my experience.

0 sats \ 0 replies \ @028559d218 20h

May I ask... do you find that the payments just don't go through?

reply on another page

36 sats \ 8 replies \ @kepford 21h

That's interesting. Its all I've used for receiving. Do you use NWC for receiving?

61 sats \ 4 replies \ @siggy47 21h

Yes. I had trouble with Zeus early on, and I think another one too. NWC has been best for me. I used LNC with lightning terminal for a while too, but that wasn't as reliable.

41 sats \ 3 replies \ @kepford 20h

Zeus uses hodl invoices to avoid having to have a server online all the time. They are flakey in my experience as well. Coinos and Minibits work pretty well but they are custodial and have had issues from time to time with SN's throughput.

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36 sats \ 2 replies \ @kepford 21h

LOL, in the early days I tested NWC and specifically Alby Hub on my node. It was failing. Now it works. Not sure what changed but it does work for both paying and receiving now.

0 sats \ 1 reply \ @kepford 21h

I think I may have found a SN bug with LN address support.

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13 sats \ 3 replies \ @realBitcoinDog OP 15h

Sorry @denlillaapan but I think I accidentally helped @ek in generating controversial posts to boost SN item count 😅

10 sats \ 2 replies \ @denlillaapan 15h

Shame.

But it's ok, he's lost anyway

13 sats \ 1 reply \ @realBitcoinDog OP 12h

He has no chance?

0 sats \ 0 replies \ @denlillaapan 10h

Not unless he pulls stunts like he did the other week

0 sats \ 0 replies \ @LowK3y19 6h

Good think I only had 1000 sats on mine

0 sats \ 0 replies \ @Dkryptoenth 15h

I'm still wandering why you're having coinos issues. Mine is working perfectly perfectly fine

0 sats \ 0 replies \ @coinhome 17h

In fact, they update frequently, and they already enable withdrawals for most, good day

0 sats \ 0 replies \ @byzantine 20h

just wait until this happens with a big cash mint

0 sats \ 0 replies \ @holonite 21h

This is where self-custodial wallets win :)

0 sats \ 0 replies \ @Aardvark 13 May

I think you can buy cowboy credits as an invoice and use them to pay for the territory

0 sats \ 1 reply \ @itsMoro 13 May

i know they had plan to make their front-end self-hostable. I hope that still happens, sounded like it'd be something similar to albyhub that you could run on your own hardware.

0 sats \ 0 replies \ @Filiprogrammer 23h

https://github.com/coinos/coinos-ui

0 sats \ 1 reply \ @DarthCoin 13 May

0 sats \ 0 replies \ @holonite 21h

I support you. Self-custodial wallets win this one.