& the guardians of the federation are incentivized to be honest right? Because by being dishonest it would in turn harm them by ruining the integrity of their federation? Like Do the guardians receive transaction fees or how do the incentives work?
Discussion
They are incentivized to rug the users and disappear. Also vulnerable to regulatory issues.
it's their mint so they can run it however they like.
how are you going to confirm that the federation is actually a bunch of different people? and not just one guy publishing a bunch of different keys?
and if they're known people what's to prevent regulatory pressure from being applied to them?
anybody with experience on the darknet knows that the incentives are to build up a reputation, wait until you have custody of a big pile of Bitcoin and then disappear.
really unclear how this is going to be the solution to anything.