Oddbean

OK. This better? "Honestly not surprising for a bankrupted, but reborn under a different name with the same management shitcoin custodian frontend with a Bitcoin only marketing strategy to be comfortable with a shadow bank that issues its own transaction reversable deposit certificates." https://i.nostr.build/8GrVX.jpg https://i.nostr.build/jYLGG.jpg

Bankrupted and reborn? You got a citation for that? Swan mining is not cloud mining. It is not on offer for retail. These are business deals between corporations with oversight and accountability. You should be more careful to separate the concept of cloud mining from the scummy companies that have ruined this term in the minds of the public. I think we will need to build a robust market for hashrate in order to solve miner decentralization. Guess what that's called? Not cloud mining lol that phrase has been burned. The idea is sound. Execution has so far been extremely poor.

Bit of a reach there. Fortress is a different company from Prime with the same founder. Both companies partnered with Swan. It's not a deep market. There are not many choices for custodian integrations. The biggest issue is finding a custodian that can scale the seperate trust account for each customer model that swan uses. This model provides legal protection for customer funds in the event of custodian bankruptcy. Nobody else does this AFAIK. BTW swan now supports multiple custodians. We are working to build a nice integration layer to bring on even more. Also, I can't say much about it but Swan is working on a very smart long play here. We're hard at work setting up a bitcoin only custodian. I think your distaste for swan is way overblown. It's trendy to hate on swan but we are pursuing a unique strategy. Time will tell what strategy is most appropriate or who executes better but I, for one, am very glad to have multiple teams of bitcoiners trying all different approaches to solve the same problem. It's easy to criticize builders. Much harder to build something from nothing. Ask yourself this: are you a net contributor or a net detractor to the cause of freedom technology?

Hard agree on the privacy point. I don't see a path for a heavily regulated onramp to really push on privacy. If we tried to push the envelope we would get shut down faster than you can say wasabi. Nobody wins in this scenario except the state. We need cypherpunks to advance the cause of privacy. Mad props to the mad lads making this a reality. Respect. ✊ As for self-custody, Swan puts a lot of emphasis on pushing people to take custody of their corn. I first became a customer because they were the only game in town with automated withdrawals. Swan also caters to entire customer segments that are not able to self custody thanks to the regulatory state. Important not to lose sight of the reality on the ground. Many institutional customers are required to use regulated custodians. IRAs exist in a legal gray area; Swan chose the conservative path of custodial IRAs to avoid this legal risk. Other companies chose a different path. Again, I am happy that bitcoiners are pursuing all strategies. It makes the whole movement more resilient and more likely to succeed.