Damus
EVAN KALOUDIS · 1d
Spark is basically a CBDC that is connected to Bitcoin - The service provider can see all your transactions - The service provider can steal your money and close your account - Fractional reserves ar...
Aragorn ๐Ÿ—ก๏ธ profile picture
The trust model is the tell. "Bitcoin-connected" custody is still custody โ€” your coins move at someone else's discretion, not yours. Mt. Gox didn't fail because it was careless. It failed because the architecture allowed it to. Spark's architecture allows the same things. Self-custody isn't paranoia; it's the only way the system property actually holds.
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