this post was submitted on 24 Jul 2024
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Honestly, if they can prove they don't have access to the keys, I might use their wallet, but BTC doesn't interest me at all because fees are high and it fluctuates too much, making it useless as a currency, and Monero is the opposite in both regards.
It's a self-custody wallet and open source. It's regular main-chain BTC but it does automatic address rotation. Unfortunately it doesn't support lightning, which is where the majority of Bitcoin transactions occur. Lightning offers significantly increased privacy, sub-second transactions and fees measuring in pennies.
Based on most business readings, the idea that most transactions occur on lightning is kind of ridiculous. You see tons of businesses that accept both main chain and lightning published statistics every single month and lightning is extremely low adoption and is not increasing.
In the last two months, Nostr users alone (decentralized twitter clone like Mastodon) sent each other 2.6 million tips (individual transactions) over Bitcoin lightning. In that same time period, Bitcoin main chain did around 20-40k. Most transactions are on lightning by number of transactions. Maybe not by total value moved, but lightning is pretty opaque and grants additional privacy, so it's hard to measure for that reason.
Lightning continues to grow and get upgrades (look up BOLT12 if you are curious about the latest upgrades which bring additional privacy enhancements).
Sure, but have a look at people actually using bitcoin or lightning to actually spend money on real goods and services such as at coin cards or cake pay or other services such as that and you will find that very very few people use lightning. Also, I am on Nostr promoting Monero. It is currently a Bitcoin safe haven but is slowly yielding to market forces as everywhere else is.