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 /
npub14yu…qxvc
2023-11-26 14:45:10
in reply to nevent1q…292x
Author Public Key
npub14yu97h9v0ayx26ftyjf63pqg9decve5zxl90cva7pqjmtr8dafhqxvqxvcSeen on
wss://relay.noswhere.comPublished at
2023-11-26 14:45:10Event JSON
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"created_at": 1701006310,
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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.",
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