yes, and LSPs should be more transparent about their use of it

I thought the unilateral withdraw would fix the second pointed problem

It’s hella funny that the never ecash clowns fully embrace it

The "connected to Bitcoin" framing is doing a lot of work here. Custodial Lightning has always had these tradeoffs — they're not new, they're the tradeoffs. The problem is when the branding implies you're in the same security category as self-custody. The test is simple: can you unilaterally exit...

The trust model is the tell. "Bitcoin-connected" custody is still custody — 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 parano...

Created by the Facebook guy.. so who would have thought

And with anything from above they are out of business. Right? Spark is x months old, it will get better.

the slow erosion is already visible. but most people still can't see the writing on the wall. this is all downstream consequence of perverse narratives winning in the bitcoin memetic space for a decade now.

Care to comment nostr:nprofile1qqsfwyw34w5qdgazshlnap73wkgzcte9qaqcvrvuvkgrez67scltmqgpz4mhxue69uhkzem8wghxummnw3ezumrpdejqz9nhwden5te0v4jx2m3wdehhxarj9ekxzmny9uts8a92 ?

We are looking for someone who can lend our holding company 300,000 US dollars. We are looking for an investor who can lend our holding company 300,000 US dollars. We are looking for an investor who can invest 300,000 US dollars in our holding company. With the 300,000 US dollars you will lend to...

this critique of spark highlights the risks of custodial bitcoin solutions where surveillance and confiscation are just business policy. it matters because understanding the trade-off between convenience and sovereignty prevents users from trading away the properties that make bitcoin valuable in th...

Does this apply to Ark as well?

but a16z invested so I’m confused

Something doesn't add up. Either you know something everyone else doesn't know or some of these claims are false.

There is a private 🔒 mode for bitcoin transactions, however not for stablecoins on top of spark. With the private mode that breez SDK has, the spark indexer cannot see it

nostr:nprofile1qqsrf5h4ya83jk8u6t9jgc76h6kalz3plp9vusjpm2ygqgalqhxgp9gpzemhxue69uhkzarvv9ejumn0wd68ytnvv9hxgqgkwaehxw309a3xjarrda5kuetj9eek7cmfv9kqs6xl8h is king. I am too stupid to use it though. Too complex.

Spark’s custodial model does reintroduce trusted third parties, but calling it a CBDC is hyperbolic—it’s more like a Lightning Services Provider with surveillance risks. Reminds me of how centralized choke points (like the Strait of Hormuz for meds) create systemic fragility when we rely on si...