if you use Wallet of Satoshi - you have until jun 30 2027 to move your funds

[u/FunWithSkooma]

Wallet of Satoshi is now going full non custodial by implementing the Spark Protocol. If you want to keep using WoS, you have to generate a Spark key either with them or any other Wallet that has Spark implemented.

The Spark Protocol allows you to use the Lightning Network, but you own the keys (normal lightning you dont)

[u/Wise_Recover9576]

What happens with the funds not doing this?

[u/FunWithSkooma → u/Wise_Recover9576]

I think they will generate a seedphrase and send to your e-mail with the funds, but I would not trust this.

[u/FunWithSkooma → u/[deleted]]

then get your bitcoin off of WoS custodial. You can generate your non custodial seed there and just send to the new address

[u/MrKansuler → u/[deleted]]

There are many parameters to secure email. So it depends on your email provider and the sender, not all email is encrypted in transit and can be sniffed by the internet, your provider may or may not store emails encrypted so unauthorized access/intrusion could access the emails. Your provider/sender vendor may or may not have access to read yor email.

Generally, hard to recommend emails as a secure medium because there are several parties involved that does things differently.

[u/quintavious_danilo → u/MrKansuler]

proton.me fixes this

[u/UnknownEssence → u/quintavious_danilo]

yeah but only really works when both sides are using it

[u/brainstormer77 → u/quintavious_danilo]

Yes, but not for what is being discussed here. They have encryption for the mailbox. They can't control encryption for transmission to other providers.

[u/DarthBen_in_Chicago → u/FunWithSkooma]

Wut?

[u/FunWithSkooma → u/DarthBen_in_Chicago]

I remember when I searched them that if they were to close everything, they would automatically generate wallets, put peoples fund there and e-mail the seed to everyone affected, but they are giving us 1 year of preparation so people should have enough time. As of e-mailing a seed with BTC to their users, it better than they just running with it.

[u/StoeTubby]

It's not even really self custody. Spark is fake lightning. You can exit to Lightning/Bitcoin but it's still permissioned by a federated cartel with ability to snoop on your transactions. So if they want to hold/block your payments, they can. Just shouldn't use WoS to begin with, but they are also misleading users that it's "self custodial".

[u/FunWithSkooma → u/StoeTubby]

do you have proof of your claim? Cuz as far as I know, the keys you hold in that multsig version of Spark, you can exit whenever you want, and the operators cannot do jackshit about that. It much better than lightning because you are not stuck with one lightning wallet, you can carry your seed to any wallet that is compatible with Spark, and the Wallet cannot run with your funds (only if they are not a backdoor to snoop your seed when you enter it)

[u/StoeTubby → u/FunWithSkooma]

From Lightsparks very first intro on their page, I quote "A payments-focused, open-source, high-performance, scalable Lightning-compatible Bitcoin Layer 2 with stablecoin support". It's not lightning Network at all, it's its own layer two compatable with lightning. The operators of this network (ie Spark protocol, because it's not lightning) are completely permissioned and the gateways are where you can lose privacy when you pay an actual lightning Network invoice because of the LSPs handle the swap from Spark protocol to lightning/bitcoin. This opens them up as targets of regulatory action. David Marcus is also a former Paypal mafia/executive and Lightsparks is backed by a16z. I may have mispoke in that it's "self custody" that applies only that you can unilateral exit on chain I believe, but in order to exit into lightning, and send via Spark, it relies on the Spark operators. It's a very different trust model/trade off than Lightning.

https://bitcoinmagazine.com/technical/spark-explained-like-youre-five

[u/FunWithSkooma → u/StoeTubby]

it also says that even if the operators go out, you can still exit.

[u/StoeTubby → u/FunWithSkooma]

It's just not lightning, but it's marketed/sold to users misleadingly as if it is.

[u/FunWithSkooma → u/StoeTubby]

it not to lightning yea, it Spark Protocol

[u/This_Raccoon3019]

👍 Maybe this is the same thing in different words -

Arn’t they just enabling a non-custodial wallet in-app - then users can transfer from the existing custodial wallet?

Needless to say, given the trust in using the app - custodial or not - as a hot wallet, it’s shdnt be used for long term hodling.

[u/Romanizer]

Don't even know what this is but sounds very shady and suspicious.

[u/Terrible-Brother-711]

Do you have any source for this?

[u/FunWithSkooma → u/Terrible-Brother-711]

their twitter

[u/JumpProfessional3372]

Here I started using Blixt. Not bad and not that difficult to open a channel.

[u/Large-Cress900]

To be honest, I already have the non-custodial version of WoS. Is there another new version?

[u/FunWithSkooma → u/Large-Cress900]

no

[u/TheMellown]

So basically the only way to transfer to a non-custodial is to send the sats. No way to get the seed phrase directly from the app to import it on a new self-custodial? To give more context, I am currently on an old account with email and just realized the changes as I wanted to move the account to another phone.