27 sats \ 2 replies \ @_b_o_n_e_s_ 25 Apr \ on: "Federated" is nomenclature used by scammers to mislead the non-technical bitcoin
non technical person here
you seem to be saying:
because of the way the internet works via API calls its still a 1:1 trust relationship. think of fedi/liquid as functuonally the same as any single party custodian like an exchange and know what you're dealing with
that makes sense to me and hadn't seen like that before thanks for explaining for simpletons like me
then you seem to be saying:
because it works to capture dev mindshare which would otherwise be spent on developing alternate tools, were fucked
putting my best mutiny wallet hat on, just for example, i assume the reason for going down the 'federated' path is to minimise legal attack surface to show they not straight 1:1 custodying funds like WoS which cant operate in US. gives cover for a period of time? is that not good? whats alternative if didn't do this when you hear all the problems with lightning. and its open protocol though cant stop people building what they want.
I don't know what answer is, what would you rather people work on?
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50 sats \ 1 reply \ @justin_shocknet OP 25 Apr
Scamming the regulators is where I give the concept at least some credit, but Federations do so at the cost of corrupt big-custodian incentives buying up resources, and slowing the pursuit of better solutions.
Nostr as a social graph and communication layer gives us an opportunity to bootstrap new users from their pre-existing social network. I'm personally working on that with Lightning.Pub, but the concept has gained traction on other projects as well, like LNBits.
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17 sats \ 0 replies \ @_b_o_n_e_s_ 25 Apr
scamming regulators is funny way to think about it i like it
nostr does seem promising. will check out lightning.pub 👀
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