mar 🇺🇲🇨🇦(₿) on Nostr: Someone told me that Wallet of Satoshi is a custodial wallet meaning they control ...
Someone told me that Wallet of Satoshi is a custodial wallet meaning they control your private keys.
Yes that's true. I don't like using wallets that control your private keys because It goes against everything that Bitcoin stands for and the corruption we have on earth is because of the banks controlling our money. If we let Bitcoin company wallets control our keys than that corruption will come back.
I just remembered why I am using wallet of satoshi. It's because I wanted a BIP353 address. BIP353 addressed seem to be fairly new and i quickly realized BIP353 addresses are amazing.
Everyone will be using and have a BIP353 address in the future. It's way simpler then using a traditional Bitcoin address where the address if extremely long with full of numbers & letters. It's easy to make a mistake when sending money this way.
BIP353 is where you make your own username.
Example:
username@ walletofsatoshi .com
username@ walletofchoice . com
Phoenix wallet is a non-custodial wallet where you control you own keys. Unfortunately it doesn't let you chose a username yet even tho it's in the user settings.
That is why i have been using walletofsatoshi and other wallets. I wanted to see how BIP353 addresses work.
I love BIP353 addresses. They are the future but I warn you against keeping your life savings on wallet of satoshi or any other wallets that you don't control the keys. If you are just learning how the lightning network works using the wallet of satoshi is a great wallet.
#Bitcoin
#WalletofSatoshi
#LightningNetwork
#PhoenixWallet
#BIP353
Published at
2024-08-03 00:42:17Event JSON
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"content": "Someone told me that Wallet of Satoshi is a custodial wallet meaning they control your private keys.\nYes that's true. I don't like using wallets that control your private keys because It goes against everything that Bitcoin stands for and the corruption we have on earth is because of the banks controlling our money. If we let Bitcoin company wallets control our keys than that corruption will come back.\n\nI just remembered why I am using wallet of satoshi. It's because I wanted a BIP353 address. BIP353 addressed seem to be fairly new and i quickly realized BIP353 addresses are amazing.\nEveryone will be using and have a BIP353 address in the future. It's way simpler then using a traditional Bitcoin address where the address if extremely long with full of numbers \u0026 letters. It's easy to make a mistake when sending money this way.\n\nBIP353 is where you make your own username.\nExample:\nusername@ walletofsatoshi .com\nusername@ walletofchoice . com\n\n\nPhoenix wallet is a non-custodial wallet where you control you own keys. Unfortunately it doesn't let you chose a username yet even tho it's in the user settings.\n\nThat is why i have been using walletofsatoshi and other wallets. I wanted to see how BIP353 addresses work.\n\nI love BIP353 addresses. They are the future but I warn you against keeping your life savings on wallet of satoshi or any other wallets that you don't control the keys. If you are just learning how the lightning network works using the wallet of satoshi is a great wallet.\n\nhttps://mar101xy.com/uploader/images/2024/08/02/Bitcoin-BIP353-Lightning-Address.png\n#Bitcoin\n#WalletofSatoshi\n#LightningNetwork\n#PhoenixWallet\n#BIP353",
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