I mean if ppl only store small amounts, and they rug.. Only those that use it for far too much, will get hurt. Mind you ppl AREA leaving stupid amounts on wos.
The custody/trade off contest will never end I doubt..
This does make it difficult when it comes to on boarding ppl with minimal incomes.
I've got ppl using wos, but me makes me cringe. I fi this for ppl that really struggle with anything more than a password.
Sadly we've mostly come to rely on password recovery his email (horrendous)..
It is going to be a slow learning curve for many, many will never get there, sadly.
Ecash will obsolete WoS in my opinion, and solutions like phoenix will cover the people who store higher value. Nerds will run nodes.
How do you do wallet recovery for ecash if your phone is lost, stolen, or destroyed?
Seems traditional custodial solutions tied to email and/or cloud backups (again tied to an email) work for this but ecash is still in early stages and lacks adequate accountability.
if you loose your phone you loose also the 20 bucks of ecash, I frankly dont see this a problem.
Thinking how recovery could work, maybe on every payment the wallet could do a self-payment-locked-to-your-id and upload it to service provider, like zeus manage backup of channel data. I think is more or less how it is intended to work a pay-to-npub with ecash stored in relays.
Ecash will change a lot and we will see how it will push the limit of magic internet money.
Correct me if I'm wrong.. But since ecash is just a file/token. Seems it would be trivial to backup to another device. Of course this would need to be done often, as tokens change with use.
Surely Ecash wallets could even be setup for automatic backup to cloud/personal server. Etc etc etc
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