Fiat folk can't afford one SBC per microservice. 😆

https://www.thrillerbitcoin.com/trust-talk-with-paul/

Security is all trade offs. Where are your keys stored? How do you secure those? Do you trust someone else to safeguard them? Not many people live completely alone or trust no one. Community based trust has and will always exist.

That is the scale of focus for Fedimint. If the small stack means a lot to someone, then it would be recommended they not put that in someone else’s trust.

But coming back to the topic at hand, if someone values a swap into XMR more than that stack, a module that enables swaps makes sense.

Nothing is absolute. You trust someone along the path of using bitcoin. It’s how things scale.

security is all tradeoffs. what convenience feature are you willing to trade for sovereignty of a small stack?

nvm. gotta stay humble and stack sats.

Talking to my co-worker XMR bro, wicked smart guy. Tell him about fedimint. "Oh, it has modules." "Yea, it's transaction in and out at the core protocol" "So it could do swaps for Monero"

Got me thinking a bit. Plebs want sats. Many plebs want more sats. Monero bros wants more XMR. XMR is 'easier' to mine and can be done on CPU by design (last I understood). Plebs have CPUs more than they have ASICs. Plebs min XMR, bring to a fedimint and swap for ecash. Monero bros come to fedimint and swap sats for eash. Plebs get sats. Monero bros get XMR. Monero gets more TX volume and mining. Arbitrage opportunities abound.

Is this shitcoining? What if it unlocks some pleb level arbitrage with just a Fedmint module to swap XMR for ecash? Is the what it's like working on a permissionless protocol?

https://blog.start9.com/running-startos-on-apple-silicon/

https://blog.start9.com/running-startos-on-apple-silicon/

https://blog.start9.com/running-startos-on-apple-silicon/

Well this is pretty neat...

nostr:npub1pp355axf69z8ndrz8zdnqa54s90e5xy737mwqk9e9cvt606nwszsdx8nu7 is there an ecash spec somewhere? Seems like having published specs on handling ecash tokens would be helpful

https://cryptome.org/jya/digicrash.htm

https://nakamotoinstitute.org/finney/rpow/index.html

"Using RPOW tokens for email would have advantages, as people could then reuse tokens from incoming email in outgoing email. Spammers will have no such advantages since almost all of their email is outgoing. Reuse allows the cost of the POW token to be much higher since most people won't have to generate them, making the system more effective as an anti spam measure."

ecash can be RPOW.

https://gist.github.com/AdamISZ/28c3475734becf031c9924f0b50d1bed

Interesting read on ecash. Good linked references as well.

Fedimint allows you to spread risk of rug pull across multiple entities. In addition, it can provide you privacy. Not all custodial solutions can say the same.

note17q92hkm88jhguz3hllhn3z0usv0npf3nnufes7n8xpnup4r2ynrscqwglx

One day you’ll be able to talk to your Fedimint using nostr. The Fedimint itself will have an npub.

It seems that there will be a market that could develop around "L1 insurance". Where a large capital allocator collects on "insurance" and promises you exit support during times of congestion/high fees where an average user cannot afford to exit from one of the aforementioned "bitcoin banks".

Inspired thought by: https://delvingbitcoin.org/t/thoughts-on-scaling-and-consensus-changes-2023/32

Yes. There is a client secret that has to be managed that can allow you to recover ecash using derivations but that default assumption is a client will manage and store the ecash data.

that's a starting point but we're not there yet for using real money.

Be on the lookup for some announcements soon though... 👀

https://github.com/fedimint/ui

from a simple explanation: fedimint clients connect to one (or several) websocket JSON rpc endpoints and interact with the fedimintd. Users with LN nodes will want to talk to gatewayd too if they're interested in providing LN liquidity to the federation.

Keep me in mind if you ever want to chat fedimint.