Sly Fawkes on Nostr: I've been thinking about some of these wallets that are self custody but have LSPs ...
I've been thinking about some of these wallets that are self custody but have LSPs providing liquidity and managing channels on the user's behalf, such as Phoenix, Mutiny and Zeus' easy mode. This applies to the Samourai situation as well.
Although LSPs and Coin Join Coordinators do not take custody of funds, they are central points of failure that can be scrutinized by the Feds or easily taken down. In a less hostile environment these are great services but may not survive an attack. I expect to start seeing KYC being forced into LSPs and similar services.
We have to fight for privacy in this space and Samourai is on the forefront of that war. I wish them well and hope for victory in court but we cannot count on it. Although we have "constitutional protections" our government is corrupt to the core, the empire is dying and they are lashing out.
It is important to run your own Bitcoin node and follow privacy best practices as much as you can. If you have a stack of kyc corn, be sure to have a completely separate non-kyc stack that never mixes with the former.
We have officially entered the "Then they fight you" stage. Best of luck to you all.
Although LSPs and Coin Join Coordinators do not take custody of funds, they are central points of failure that can be scrutinized by the Feds or easily taken down. In a less hostile environment these are great services but may not survive an attack. I expect to start seeing KYC being forced into LSPs and similar services.
We have to fight for privacy in this space and Samourai is on the forefront of that war. I wish them well and hope for victory in court but we cannot count on it. Although we have "constitutional protections" our government is corrupt to the core, the empire is dying and they are lashing out.
It is important to run your own Bitcoin node and follow privacy best practices as much as you can. If you have a stack of kyc corn, be sure to have a completely separate non-kyc stack that never mixes with the former.
We have officially entered the "Then they fight you" stage. Best of luck to you all.