Replying to Avatar utxo the webmaster 🧑‍💻

Fedimint is the perfect trust tradeoff imo.

Instead of millions of people trusting one anon custodian (ie WoS) - just your close friends and family have to trust you.

Your incentives to rug are gone, in fact you stand to lose your friends and family, so you're even more incentivized to be honest.

Extremely bullish on this.
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Habanero 2y ago

Why would you willingly sequester and limit the ability to spend your money?

(I do not believe lower fees are a legitimate answer as tech like lightning and channel splicing is already solving that)

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utxo the webmaster 🧑‍💻 2y ago

Because there isn't enough space on L1 for all of us to have channels.

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Habanero 2y ago

No

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Habanero 2y ago

(I do not believe lower fees are a legitimate answer as tech like lightning and channel splicing is already solving that)

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Habanero 2y ago

It's a shit way to scale. The only use for Fedimints would be inside the same entity... like a corporation. Not across multiple entities like sovereign people

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HodlHomestead 2y ago

There is the possibility that a Fedimint would allow you better privacy by having your payments come from the mint instead of your personal lightning or legacy addresses.

It's going to have to be a very simple software and interface for normal people to feel comfortable essentially starting their own family/community bank.