Thanks for your response. After doing more research, I now have a better grasp of fedimint. I agree that if it's scaled properly, it could be a promising better alternative to liquid, for the scaling and privacy part at least, i believe it is inferior for transparency.

However, I have reservations about the part you mentioned as irrelevant. While it's true that they may not be able to see your balance, my understanding is that they can potentially hold your BTC (not the IOU) hostage. This means they could restrict your trading outside the mint, impose KYC requirements for specific trades, or even compel you to "upgrade" the mint protocol to something else with different rules, as long as all guardians agree.

I recognize that this is a risk in liquid as well. However, the current state of liquid is a decentralized federation not under a specific authority or jurisdiction of entities that have a lot to lose if they were to attempt something. This stands in stark contrast to the PR campaign for fedimint, which encourages small secluded communities. These communities are vulnerable to government overreach or manipulation.