While I love that story, I am also annoyed that once again a person got lured into a fully closed source and custodial system. This is not helping anyone really.
And the most annoying thing is, there are fully open source and non/self-custodial alternatives.
If you'd have onboarded that gentlemen to Cake Wallet and Monero, he had privacy from the start (without needing any further knowledge and pretty much no way to shoot himself into the foot). But also everyone had lower fees paying him.
It just makes me sad when I hear Bitcoiners talk about centralization and not needing to trust third parties, but then in the same sentence recommend WoS...
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Sorry but if the vendor was rocking a iPhone, would you still recommend centralized services like the App Store?
WoS also has a self-custody option now btw. I'm all with you, but you seem to be jumping the gun in expectations?
Cake Wallet is also available on iOS, so yes I'd still recommend that. Though I also recommend against using an iPhone.
The 'self-custody' option of WoS is not really self custodial (see
for further information)
So yeah, Cake Wallet + Monero offers low fees (about 1 cent TX fee regardless of how much money you send), fast tx (you see the money in a few seconds, and thanks to no RBF it's safe to accept smaller amounts without further confirmations), good privacy without any technical knowledge and it's fully open source and self-custodial.
There is no equivalent for BTC, that offers the same features.
Stacker News
No, the new Wallet of Satoshi is not "self-custodial" \ stacker news ~bitcoin
For those who missed it, Wallet of Satoshi is transitioning who their custodian is, and making a big deal of calling it "self-custody". Sadly, it i...