Besides all the good reasons already given you can also get a hostname that fits you the best :)
Honestly this was one of the main reasons for me, I like using my domain as my key identity in a sense. Same for Gotosocial and Matrix.
So if I made my own Lemmy instance, and subscribed to !selfhosted, does that mean if Lemmy.world went down, the !selfhosted community is still up?
Yesterday I saw a beehaw (I think) community thread which got locked by the beehaw mods but because it was federated ppl on other instances could still comment. I think !selfhosted would be still be up on your instance if lemmy.world went down.
I run my own instance because I have the resources, I intend to create communities and it is much more private this way.
Same! Community building is fun, although in my case slow…
What are the privacy advantages of self hosting lemmy? as in what kind of data are we otherwise sharing when we use someone else's instance?
If I create a private community for all my family members it remains private while I selfhost. If I create it on someone else's server it ain't that private because the admin could be eavesdropping.
less thing to worries like you dont need an email to use it from single user instance, lemmy now dont have 2nd authentication like totp at the moment and it may have risk to get pawned and leak your email address so yeah it is better to run your own single user instance
I'm in the process of upgrading my Plex server, once that's done I plan hosting my own Lemmy instance on the old server to test it out for personal use.
You absolutely don't need to be hosting any communities and can use it just for your own control over your access to the fediverse.
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