Replying to Avatar average_bitcoiner

nostr:npub1jk9h2jsa8hjmtm9qlcca942473gnyhuynz5rmgve0dlu6hpeazxqc3lqz7

Fedimint, abbreviated

https://v.nostr.build/86Kg.mp4

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π•Ύπ–Šπ–— π•Ύπ–‘π–Šπ–Šπ–•π–ž 2y ago

Daaaamnnnn where have you been all my life, this is the best explanation I’ve seen thus far!

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π•Ύπ–Šπ–— π•Ύπ–‘π–Šπ–Šπ–•π–ž 2y ago

legit question can the federation rug me at any point

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average_bitcoiner 2y ago

Yes. But with great effort and coordination. Its not a bitcoin custody solution. Its a swap point solution that happens to be 1:1 to sats in a programmatic way.

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π•Ύπ–Šπ–— π•Ύπ–‘π–Šπ–Šπ–•π–ž 2y ago

Ahhhh okay I keep hearing it’s a custody solution but if it’s a swap point solution then it’s not as bad as they make it seem

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average_bitcoiner 2y ago

Its designed to hold BTC 1:1 so you can exit the mint whenever but I assume fees and other cuts will be taken for transactions or services rendered. Maybe the fedimint runs GPUs for you. You spend the ecash back to the mint when charged.

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average_bitcoiner 2y ago

Just been chillin in the mountains above the Swamp. Thnx.

https://shenandoahbitcoin.club