Replying to Avatar hodlbod

Does anyone else feel like using a cashu mint based on reviews is sort of backward? You can't know if they're going to rug you unless they've already rugged you. Which means you can't use reviews to gauge trust (though you can gauge uptime etc). Reviews might even be a problem, since mints with high reputation will attract more users, making it more profitable to rug their users. The whole idea (same with relays) is to spread activity across many custodians to dilute the risk, but reviews seem to undermine this.
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calle 7mo ago

any ideas how to do it better?

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M0053 7mo ago

Federated trust models are a step in the right direction probably. But even a single point of trust bitcoin bank is an idea worth exploring. (This is the ETFs, and exchanges as well) In my long post above I think I make that clear. And I am grateful people like you are working on these things.

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hodlbod 7mo ago

- Raise the barrier to entry to creating a review to prevent low-effort reviews.

- Make reviews be specific about what is being reviewed (uptime, trust, speed, whatever).

- Use some kind of watchtower system instead of reviews. https://audit.8333.space/ seems like a good idea.

- On the user side, build UX that encourage people to diversify mints, warn them when they have a lot of money concentrated, etc. I've heard people talk about this, and I'm working on something similar for relays currently which might inspire some ideas:

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/dev/fd0 7mo ago

None of this can stop the rugpull.

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hodlbod 7mo ago

Probably not