WoS IS a bank. You create an account with them, they hold your money with no way for you to recover it if they fail, they send/receive money in their private inernal ledger as much as possible, they can fractionally reserve the money they account for, they report to regulatory authorities, and can censor users and/or freeze their money.
Yes, WoS is a bank.
geodesic /
npub14y…vqxvc
2023-11-26 13:45:10
in reply to nevent1q…292x
Author Public Key
npub14yu97h9v0ayx26ftyjf63pqg9decve5zxl90cva7pqjmtr8dafhqxvqxvcPublished at
2023-11-26 13:45:10Event JSON
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"pubkey": "a9385f5cac7f4865692b2493a884082b7386668237cafc33be0825b58cedea6e",
"created_at": 1701006310,
"kind": 1,
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"content": "WoS IS a bank. You create an account with them, they hold your money with no way for you to recover it if they fail, they send/receive money in their private inernal ledger as much as possible, they can fractionally reserve the money they account for, they report to regulatory authorities, and can censor users and/or freeze their money.\n\nYes, WoS is a bank.",
"sig": "dbf1e6ca7f906edaa40426ad149a67058168f6b81c4f313f431b778505fa67bee9644389fb9b462f1a9aaed14fafbe1622ec8796e347f6b7f6923fbe74d7e847"
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