uxellodunum on Nostr: If you're still using custodial services, you'll likely learn the hard-way why ...
If you're still using custodial services, you'll likely learn the hard-way why they're not scalable in a #Bitcoin world.
They function too much like banks. Banks function based on certificates which themselves create a chain of Trust all the way from the PoS terminals, to the bank's CA (yes, they don't tend to hold their keys, even central banks and leave it to a third-party company, I know this from experience).
The "fiat mind-set" is an actual real thing in that its way of doing things was allowed to ossify over the course of many decades.
Take custody, or else.
And yes, that goes for your #Lightning sats also - From experience in previous cycles, as the value of your sats goes up, we'll see Lightning further cement itself as a payments highway, and protocols like #Cashu (which is custodial, but slightly different in that it has a few things going for it that allow it to break the traditional problem of third-party custody), #ARK, and even self-hosted Lightning takeover the end-user experience.
Why do you think #Alby has chosen to move away from full custody services and into the self-custody space?
It was a business decision, and a damn good one.
They function too much like banks. Banks function based on certificates which themselves create a chain of Trust all the way from the PoS terminals, to the bank's CA (yes, they don't tend to hold their keys, even central banks and leave it to a third-party company, I know this from experience).
The "fiat mind-set" is an actual real thing in that its way of doing things was allowed to ossify over the course of many decades.
Take custody, or else.
And yes, that goes for your #Lightning sats also - From experience in previous cycles, as the value of your sats goes up, we'll see Lightning further cement itself as a payments highway, and protocols like #Cashu (which is custodial, but slightly different in that it has a few things going for it that allow it to break the traditional problem of third-party custody), #ARK, and even self-hosted Lightning takeover the end-user experience.
Why do you think #Alby has chosen to move away from full custody services and into the self-custody space?
It was a business decision, and a damn good one.