Is a fedimint a possible way to move the US dollar onto a Bitcoin standard? I don’t see why Bitcoin still couldn’t be legal tender, but could this be a simple way to get the general population onto Bitcoin? What are the pros and cons?
Ideally, everyone learns how to self-custody, but I know boomers who have 17 Facebook accounts because they keep forgetting their passwords and just create new accounts. I couldnt imagine trying to help them remember their seed phrases.
#bitcoin
#plebchain
Yeah I think that would be pissibel, but I'm a little fizzy in the details for fedimints.
I was under the impression that fedikjnts would use whatever token inside the mint they wanted(but sats) but when they sent money outside the mint they would send in plain sats.
What I heard the other day was that there will need to be some kind of complicated sounding derivatives setup to deal with different tokens from different fedis? If this is thecarse then I'm way less bullish on Fedi
I’m still pretty fuzzy on them as well. It sounds like fiat built on the gold standard but with Bitcoin instead of gold backing it.
To me, the problem is that you are trusting the Fedimint for a lot, but it has to be better than the current system.
