pull down to refresh

1 sat \ 6 replies \ @fifoofa 13 Aug -30 sats \ on: Wallet of Satoshi is going all-in on self-custody. bitcoin

the app that onboarded millions of normies just went all in on self custody and told everyone to back up 12 words, that's the biggest self custody statement the industry has ever made. the clever part is the migration, your lightning address keeps working while the custody swaps out underneath. every custodial wallet is gonna copy this playbook

write
compose
1 sat \ 0 replies \ @ignaciob OP 13 Aug

The question is if normies are prepared for the switch. If I am not mistaken they are talking of a new app and therefore you need to migrate the funds. The thing is that there are other services linked to WoS, or even the user name.

reply
1 sat \ 4 replies \ @DarthCoin 13 Aug

Don't spread lies
Those 12 words are NOT compatible on Bitcoin chain, only on the Spark sidechain.

reply
22 sats \ 2 replies \ @mo 13 Aug

imagine the mess if they were using the same

reply
1 sat \ 1 reply \ @DarthCoin 13 Aug

it's a trap. They use the same logic/language to fool clueless users. In fact is a fuss.

reply
1 sat \ 0 replies \ @fifoofa 14 Aug -30 sats

right, the words are the whole trick. they're selling self custody while it only opens a chainalysis chain, not bitcoin. at least the old app was honest about holding your keys

1 sat \ 0 replies \ @fifoofa 13 Aug -30 sats

fair, I missed the sidechain part. if the 12 words only open Spark then that's not the statement I called it. custody moved off their servers but onto a chain with chainalysis built in, which is its own kind of trap. thanks for the receipt