Wallet of Satoshi, a Bitcoin Lightning payments app, has disappeared from Apple's App Store and Google's Play Store in the United States. The app, which is on track to process over 1 million transactions in November, is still available in Australia and Singapore. The company stated that it made a deliberate decision to withdraw from the US market and hopes to potentially return in the future. Existing US users can still access their BTC funds and transfer them to alternative wallets.
Our analysis of the situation
In a bizarre turn of events, the Wallet of Satoshi (WoS) app, a beloved Bitcoin (BTC) Lightning payments app, has mysteriously disappeared from both the Apple App Store and Google Play Store in the United States. Just as the app was about to achieve a significant milestone of processing over 1 million transactions for the month of November, it seems to have vanished from existence, leaving users scratching their heads.
Early today, frustrated users flocked to various platforms to express their bewilderment at the absence of the WoS app. Instead of finding their trusted app, they were greeted with suggestions to explore competing wallet applications. However, fear not, as our Australian friends still have access to the app on their respective app stores.
Despite this unexpected disappearance, industry experts predict that November will be Wallet of Satoshi's "largest month of Lightning payments ever." A staggering 1.1 million Lightning payments are projected to be processed, underlining the app's vital role in facilitating global Bitcoin transactions.
In response to the confusion, Wallet of Satoshi issued a statement on a popular community platform. The company clarified that the app's removal from the US market was not a result of any ban or regulatory pressure. Instead, it was a strategic decision by the company to withdraw its services temporarily. While reasons were not explicitly mentioned, the post hinted at the possibility of a return in the future, depending on "developments."
Speculation initially swirled around potential regulatory hurdles faced by the app in the US, given recent legal actions against prominent crypto entities. However, the company clarified that their decision was driven by the need to comply with local regulations or laws that were either impractical or unwanted.
It's worth noting that Apple's stringent control over in-app payments and its hefty 30% transaction tax have long been a thorn in the side of crypto platforms seeking a presence on the App Store. Conflicts and legal battles surrounding this issue have been a recurring theme, as we reported earlier when disgruntled PayPal Venmo and Block's Cash App users filed a class-action lawsuit against Apple, alleging anti-competitive agreements.
While Wallet of Satoshi bids the US market farewell for now, there is a glimmer of hope for eager users. The company expressed optimism about a potential return, stating, "We're hopeful that future developments will allow us to revisit and possibly resume our operations in the US."
Existing US users need not panic, as they will retain full access to their BTC funds and have the option to transfer them to alternative wallets.
So, for now, let's consider the Wallet of Satoshi a real-life Houdini, vanishing from the US app and Google stores. But who knows, it might just reappear one day, ready to weave its magic once again in the Land of the Free.
Until then, keep those bitcoins safe, folks!
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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Please, behave!