Mutiny is coming out really swinging against end user LN recently to explain their pivot to federation backed ledgers for their wallet (their reasoning makes sense to me, fwiw)
how long til breez + phoenix pivot to federation backed ledgers?
pick a reaction emoji (or reply with one) to vote
🤙 within 6mo
👍within a year
❤️ within 5y
👋 after 5y
⚡️ never
I hope never. I would like at least one self custodial LN mobile wallet and I think splicing with Phoenix is a good way to solve the liquidity /channel management issue for those willing to pay fees for the user experience
Seems like the future. Is there a future for the plen node runner or the sun is setting in your opinion ? 🤙
the other option is more in the direction of greenlight, where your keys control some node in the cloud that's hosted and maintained by someone capable
Depends on where fees go in the next few months…
hopefully never, Phoenix is a great option for LN
for the record, a “federation backed ledger” is a setup where a small group (3-7 for fedimints iiuc, 15+ for liquid) hold a multisig address
bitcoin is deposited into that address, in return you get a “permission less” account object (ecash/a liquid utxo) that corresponds to the deposit you made
the multisig group runs a redemption gateway that you can claim L1 utxos in exchange for the account object you hold; generally third parties also run swap services where you can exchange your account object for an LN payment (made to a node you or someone else runs)
hm might be limited to 15 w/ liquid still, i might be misremembering how dynafed works
iiuc, liquid is mainly limited to 11-out-of-15 because of the onchain script size limit, taproot fixes this.
What’s the recovery process for fedimint funds? iiuc the recovery “key” changes with every spend
I wonder if there’s a way to cloud backup that ever changing key with 12 words encryption that keeps the arrangement between user and mint anonymous and private
I’m sure nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg knows the answer to this
Uhmmm... Who's voting several times??
😏😁🫂
#m=image%2Fjpeg&dim=1080x381&blurhash=Q8D9YXsk00D*9FRh%252kY5R00tR-ps9s%2BtRR%2BD%25t701_4%2508_t7R.WCxZ%252&x=aafbe0d222c2b79755b4962e2f189eec0871eae2fbe1f59bf47b551630c5cf4f
is this from liking people’s responses??
Tbh, I'm not sure.
Maybe nostr:npub1gcxzte5zlkncx26j68ez60fzkvtkm9e0vrwdcvsjakxf9mu9qewqlfnj5z can explain how #Amethyst is counting likes.
🫂
The tradeoff with end users is mainly cost. Lots of people have spent a lot of money on hardware wallets. People will still be willing to spend money on self sovereign lightning channels.
Fedimints need a lot more time in the wild.
Mobile LN wallets are good for the time being.
they’re gonna get it! im very excited about ecash tbh 🙈
Isn't Breez going with greenlight? Phoenix always do their own stack I doubt they will be using fedimint.
