Nostr Web Client

My thoughts exactly. And some people will have their whole stack rugged by one mint because they put too much trust in one central custodian. But that's just how it goes.

Enki 1y ago

One thing that I really like in their documentation is that they heavily push community management of funds. They use the term "second party trust" and define it as somebody that you have a close personal relationship with or somebody in the community that has a lot of social capital that they could lose if they did something nefarious like Stealing from everybody. They kind of say without actually saying that, when joining a mint put more trust into somebody that you can go to their house and break their knees if they steal from you. 😅

I know not everyone will follow that model and some people will probably choose to put more trust in large companies, but I do like that they emphasize that it really should be a community / family thing.

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Discussion

<old>cypherhoodlum 1y ago

Does that imply everyone should know a techy person they trust that much? Because that's a big assumption to make. It sounds nice though. Nowadays it's so easy to disconnect from the immediate local community it's refreshing to see plans that financially incentivise making local communities stronger.

. 1y ago

All the resources from Fedi i read aim at small village level like custody that westerners may not have as much association too. It may already be a social network of trust that exists for other parts of life. They aim to stack bitcoin on top of that social layer. I also believe that fedi will face regulatory issues over custody and that keeping it in the family so to speak may help alleviate that.

I think it is difficult to run and maintain lightning individually so an ecash uncle Jim for your town could provide access with limited risks.

Enki 1y ago

Yeah, thank you. This is basically how I was trying to say it.

Enki 1y ago

I agree that it's a big assumption and maybe I'm phrasing it poorly. But they definitely do emphasize Not putting a lot of trust beyond your local community members who happen to be running servers.