This fedimint primer was helpful. Starting to think this will be a big deal…
Discussion
FEDIMINTS ARE GOING TO BE FUCKING MASSIVE.
SAME WITH CASHU.
INCREDIBLY FEW REALIZE THIS YET.
Cashu made me fall in love with bitcoin all over again.
Zapped this with a Cashu wallet
Cashu.space
Received with a Cashu wallet! LFG!
DOCTOR PLEASE HELP, I HAVE A NASTY CASE OF RECEIVING TO WALLET OF SATOSHI
🤝🤝🤝🤝
TONS OF FEDIMINT AND ECASH TALK AT nostr:npub1s0veng2gvfwr62acrxhnqexq76sj6ldg3a5t935jy8e6w3shr5vsnwrmq5
Does Bitcoin Park have any plans in the near future to have events surrounding these?
I'm looking for an excuse to visit.
Honestly, I love the branding of cashews and mint. FUCKING delicious.
Just like a good college event, "Provide food and they will come. In due course."
I don't get the big use case or larger product market fit
Some people will always need banks
It's has use cases, albeit underground or building something like a CBDC, but general ecash use cases are limited to countries that won't sanction under money printing laws (federation doesn't fix this)
There is a reason bitcoin uses this clunky blockchain thing 😂
I don't know man, I'm old enough to remember when they went after file sharing. Seems like these all powerful governments lost to a bunch of teenagers then. They just don't grok the Internet.
Maybe, historically govs have fought very hard against custodians creating their own currency.
What do you mean creating their own currency?
Let’s not confuse the currency with the gold, oil or services that backs it.
Creating value doesn’t imply by definition their own currency, although licensed to operate, and they can.
🤓
Ecash is a liberty dollar. You're giving your bitcoin to someone and they're giving you their own currency they created, which they claim has x value. In an Austrian econ utopia that would be fine and dandy, but 8n the real world govs tend to like keeping that monopoly for themselves.
This isn’t much different than credit card points or airline miles, is it? To spend outside that mint, it’ll have to be converted back to bitcoin.
But earned cash.
I think we will need som decent jurisdictions where one of the following happens:
1. Ecash issued by single mint falls into closed-loop definition how gift cards legally operate (with limits to denominations)
2. Ecash issued by private banks will get green light after CBDC with some similar traits fails to get user traction
Other option is to discover some clever and complex trick where mints would issue ecash based on some special funding transaction with timelock, w/o having complete custody over funds but able to provide denomination/intermint swaps for a fee. May be this could be constructed with some statechains primitives, where mint would stay in role of coordinator and thus more resistant to regulator attack. Not sure if doable with low onchain footprint.
🫶🏻
I think a #mainvolume issued license is required to think. I think I am European, Swedish in fact. I think I am created by Sina for mainvolume.com
Fediments is a good idea.
I read this, started watching the video. then drifted into a nap. I had vivid dreams about it… and just before waking I dreamed was packing a bag and telling you “See you at the FediDev conference!”
Woke up a bit disappointed none of it was real TBH. 🤣
Fedimints and Cashu answer the scale question. If your grandma gets orange pilled, she’s going to have a tough time figuring out how to self-custody via a multisig solution. But “banks” make sense to her. Trust will build in local communities. Mass adoption will start trusting second and third parties.
I need to reread the white paper. I thought we were trying to avoid 2nd and 3rd parties.
Beauty is that you can/should and that should be encouraged. However, especially at certain amounts it’s going to be impossible at some point for the normie user to self custody due to fees and technical know how. Fees alone are already through the roof and this is just the beginning. So, what do you do when the cost of fees exceeds the amount you are putting into cold storage?
What’s your solution?
Its interesting
This did it for me too. How “easy” is it to set up a fedimint at this point?
I have some serious homework to do. This has legs
It will be
nostr:npub1tjkc9jycaenqzdc3j3wkslmaj4ylv3dqzxzx0khz7h38f3vc6mls4ys9w3 are you seeing much adoption or use for Fedimint?
Looking forward to more!
nostr:note1a4re397kyxzhvhkc5fy5wydxqlxwdwndeet4wh3ngskgclr39uhqzd6hvk
nostr:npub1jk9h2jsa8hjmtm9qlcca942473gnyhuynz5rmgve0dlu6hpeazxqc3lqz7 nostr:npub1m3xdppkd0njmrqe2ma8a6ys39zvgp5k8u22mev8xsnqp4nh80srqhqa5sf
I didn’t realise it was a big deal 😭
I take back what I said about skittles and horny pills 🙏🏽
Idunno. Financial security is quite arousing.
¿Porque no los dos?.gif
Happy I finally got around to watching this