Nostr

Question for the ecash bros (as someone who will want to run my community fedimint in the future)

Cash is obviously cash, and anyone can hold it with the mint, but is it possible to whitelist users to an encrypted backup of their coins? Thinking usability with less technical family members

And then what about backups of the whole mint? I read someone mentioning geographic redundancy. But what about Lightning? I’ve been frustrated by the simple issue Lightning has of force closing channels when restoring a backup. If I’m the bank for my people, I need 24/7 uptime. Will we just be plugging into an LSP for swaps, without actually maintaining our own channels? This actually sounds nice because it allows competition from LSPs on a per-transaction basis. 🤔

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Discussion

Cerebrum 2y ago

when you run a mint you can easily swap the lightning node, at least if you run a LNbits instance with the Cashu extension

mrclownworld 2y ago

Interesting

What happens to the balance in the mint when you swap? How does the mint claim the balance it held with the LN node? Does it forward to the new LN node?

mrclownworld 2y ago

But do LSPs really want to hold small amounts from thousands of different issuers? Seems more likely the mint will have at least a Phoenix style channel (or a few with different LSPs).

Running the mint as a non-profit as has been suggested for legal reasons would mean it might be necessary to pool channel open/close fees from all cash holders. Would that even be possible? Would people agree to that? Could that be automated?