Oddbean new post about | logout
 Oh, it gets better, they won't let you withdraw all your money. They are keeping 1% of everyone's money who tries to withdraw and 100% of everyone's money who doesn't (and they'll get a coupon in return)

https://image.nostr.build/dc1803caa55211a781d572669204682832652b26ae5adcf4258c897360baebf8.jpg 
 And when you try to transfer 99% of your wallet, or even less than that, it also fails saying you need to keep 1% around for fees.

Way to burn the reputation you've been earning over the years. I'm sad so see things go down this way. 
 Apparently you can get 94% out, but now I've tried too many times and they won't let me send money out. Guess I'll try again later. 🤡🌎 
 I managed to get all but 10 sats out. A small price to pay in the end. 
 To be fair, this move could be seen from a mile away. 
 I wanted to believe. They spent so much time helping out people on nostr when they had trouble, keeping servers online, building self-custody solutions.

I thought they were a group of cool cats, doing what they loved, building the technology of future. I didn't think they'd pivot to acting like a VC firm. 
 That is how they get you. Sorry if it is causing you hardship. 
 Is there no service that is just run by a bunch of cypherpunks? 
 Not that i'm aware 
 The 1% hold is pretty standard across all custodials. Withdraw 99%. then withdraw 99% etc till you get down to 2 sats 
 It'd be nice if they accurately described what the hold was. I tried 95% and it failed saying I have to have 1% reserved for fees. 🙄

Now that I'm down to 10 sats, I can send out a single sat. One of us doesn't know what 1% means. 
 Calculating lightning fees upfront is tricky. People exploited 0% reserves. That's why had to introduce it too, like many other wallets. 
Let us know how much is stuck in your wallet and we'll reimburse the rest.