It's a self-custody wallet. Money moves over the Bitcoin network or the lighting network. Developer has no control. (literally, can't be evil vs. won't be evil is the whole point). Are you sure you know how Bitcoin and self-custody wallets work?
Ok. Let me explain to you how Bitcoin works. Satoshi created the software and nodes maintain it. Anyone can maintain a node and enforce the rules of the network. A ledger lives on the network says who has what.
To interact with the ledger on an easy non-technical way, you can:
1. Use a centralized exchange (coinbase)
2. Use a self-custody cold-storage wallet (ledger)
3. Use a self-custody hot wallet (muun)
4. Use a custodial wallet
For #2, and #3. You have your own private keys. The developer of the wallet can’t do anything to your money. Even if they shut off the servers(#2 doesn’t have servers), the ledger on the network still says you have x amounts of Bitcoins. You can access the ledger and interact with the network in another way.
Respectfully, you need to do more research on this.
Look up how ETC (Ethereum Classic) came into being.
Look up a 51% attack.
Look up forks from BTC to BCH and then BSV.
Look up Craig Wright and his claims to be Satoshi Nakamoto.
Again, respectfully, your many comments here make you appear to be someone that just learned about cryptocurrency in the last six months and you have only the simplest of surface understandings of it.
You’re INcorrecting several people that have been at the forefront of cryptocurrency for over a decade.
Respectfully, you have a new account on HN and if it lasts another month before dang shadowbans you I’ll be shocked.
You’ll know it happens when people just stop responding to you.
I have showdead turned on and I shake my head as people post comments for years never knowing that 99.99% of people don’t see their posts and comments.
As for my cryptocurrency background I mined BTC with a GPU when it was very profitable. My ETH mining rigs are doing their job while I’m posting on the Internet as you say. I have no problem profiting from it while recognizing it’s a total and complete scam.
Muun ensures your decrypted private keys are never stored in the same place:
- Your phone stores only the first key
- Muun's servers store only the second key
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Oh, there's also the Emergency Kit that--I pinky swear--is encrypted in a way that Muun knows nothing about both keys in it.
Moreover, if you go ahead and install Muun, there's literally nothing about secret keys in the app: you can immediately send and receive bitcoin. Which really tells you all you need to know about its security.
Developed by a centralised developer that you trust not to screw up your money transfers.
> But the space is moving like a rocket and who knows what the future holds.
We know. All the crypto bros will slowly and inefficiently learn why regulations and centralisation exist