10 sats \ 7 replies \ @nerd2ninja 29 May \ parent \ on: Aqua Wallet: A Great New Bitcoin Mobile Wallet bitcoin_beginners
The frantic outcry regardless of that is "It uses Liquid which is ultimately a custodial multi-sig with a bunch of companies and you aren't one of them nor do you have unilateral exit"
But e cash federations are kosher
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Said who? (Actually I know a lot of people who said they were, I'm just saying I'm not one of them)
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The mutiny creator
Liquid is bad because of federation
But please embrace fedimint and cashu
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I'm not gonna embrace fediment and cashu. Its also not the first thing I've disagreed with the mutiny creator about lmao. Its not that much that I disagree with him so don't get that impression, but lets just leave it at, I'm not a hero worshiper lol.
So look I'm looking at self-custodial stuff. n-of-n multi-sig like how the lightning network is 2-of-2. So you could do more like 7-of-7, but all of the participants have to be online. So all 7 people have to be online. However, if we have CTV (or any other covenant method) we could do timeout tree vtxos and then its like the ARK protocol.
(Pending a better paper getting made) I currently like John Law's "Scaling Lightning with Simple Covenants" https://github.com/JohnLaw2/ln-scaling-covenants/blob/main/scalingcovenants_v1.3.pdf
Because I don't want banks/rehypothecation.
Now, I did see Calle talk about trading one e-cash with another e-cash atomically which was neat and everything, but being m-of-n (a federation or 3-of-4 for example) instead of n-of-n with unilateral exit doesn't sit right with me.
But who knows, maybe we'll figure out something self-custodial with e-cash somehow...who knows what the future could hold.
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Good analysis
I like to point out the liquid federation haters who speak highly of e cash mints like Fedi and cashu. I guess they can’t ascertain fedi is short for federation. Their hypocrisy is annoying in addition to their lack of logic.
On mutiny you have to join a federation before opening a lightning channel.
I am bullish on liquid and lightning and fedimint
Federations are not the end of the world. I won’t lose any sleep over it.
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On mutiny you have to join a federation before opening a lightning channel.
No, you don't. We had channel opening functionality at the beginning far before adding fedimint. And nothing has changed with it.
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I joined a federation. No regrets.
I actually regret opening a lightning ⚡️ channel
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