As a permission-less private way to transact with a local community. Isn’t this the goal of both bitcoin and monero?
Discussion
I mean
"permission less?"
fedi tokens are a shitcoin.
but if you trust the community bank, it's probably fine right?
I think the whole point is yes you do trust the community bank. Shouldn’t you trust your local community? I know it’s common to be paranoid here about everything but in reality trust is fundamental. If you don’t have enough people you trust locally then you can always create a mint from anonymous parties and put a small amount of spending money in that is now completely private. Seems like a good use case no?
I'm just not sure what problem it solves exactly. It does FEEL like there's a use case here, far in the future when people have solved online reputation maybe.
But its not particularly useful if the user has to vet the mint themselves is it?
I agree that trust is the fundamental question here. Fedi *requires trust but doesn't do anything to solve the problem.
How can I confirm the mint is actually being run by separate entities and not one guy who spun up several different keys?
That’s a valid concern and if you didn’t know the guardians personally then it is a risk. I see it more as a solution for local circular economies that scales easier and with less friction than trying to fully orange pill your neighbors since we can all agree not everyone is gonna choose self custody but still should have access and ability to use freedom tech.