Covenants are literally the only solution but due to FUD and infiltration its politically impossible to implement. I have 0 hope unfortunately.

Why I built my AMM on liquid...

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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

it's UMA

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 paranoia; it's the only way the system property actually holds.

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

Afaik you have the unilateral exist way always possible with Spark if they try to KYC shotgun ? If unilateral exist is possible then how is it really different from a LSP disabling your channel if you don't KYC ? Last question, wouldn't blind signatures on top or Ark\Spark be a reasonable trade-off for good UX and almost impossible denial of service attack ?

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.

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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 the first place. credit to the voice calling out custodial risk.

He's busy on Twitter inventing mental gymnastics to justify deceptive marketing.

Does this apply to Ark as well?

but a16z invested so I’m confused

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

@34d2f527…05cc8095 is king. I am too stupid to use it though. Too complex.

I thought this issue only applied to out-of-round.

is the claim of unilateral exit by Spark bs ?

VTXO so confusing to me

Esse povo não quer adoção do Bitcoin, ficam dando uma de puristas e não propõem nada melhor. Tudo tem tradeoffs.