0 sats \ 1 reply \ @Bell_curve 14 Jun \ on: Bitcoin Case Study - Buying an Ebike with Ecash bitcoin
The blog post describes the author's experience of buying an ebike from MOD Bikes using Bitcoin over the Lightning Network. Here are the key points:
  • MOD Bikes started accepting Bitcoin payments, offering 2% cashback and reduced transaction fees.
  • The author used the Mutiny Wallet to deposit Bitcoin from cold storage into a Fedimint federation, allowing seamless on-chain to Lightning transactions for the large purchase.
  • The payment process was smooth, with the federation well-connected to complete the 4M sat payment in seconds over Lightning.
  • Oshi, a Bitcoin rewards platform, automatically provided a sizable Bitcoin cashback reward to the author's Mutiny Wallet after the purchase.
  • The experience showcased the growing ecosystem of interoperable Bitcoin services like Satoshi Health Advisors, Strike, Oshi, Fedimint, and Mutiny Wallet working together seamlessly.[1]
  • It demonstrated the maturity of the Bitcoin ecosystem in facilitating large purchases with added benefits like reduced fees and rewards.
Sources [1] Bitcoin Case Study - Buying an Ebike with Ecash https://blog.mutinywallet.com/bitcoin-case-study-buying-an-ebike-with-ecash/ [2] stacker news https://stacker.news [3] Announcing Harbor - Mutiny Blog https://blog.mutinywallet.com/harbor/ [4] Mutinynet - Mutiny Blog https://blog.mutinywallet.com/mutinynet/ [5] Solving subscriptions on Bitcoin, one zap at a time - Mutiny Blog https://blog.mutinywallet.com/solving-subscriptions-on-bitcoin-one-zap-at-a-time/ [6] Mutiny Wallet Signet Release https://blog.mutinywallet.com/mutiny-wallet-signet-release/
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0 sats \ 0 replies \ @Bell_curve 14 Jun
Federated Chaumian mints offer several benefits for facilitating large Lightning transactions:
  1. Scalability: By having users transact within the mint using anonymous e-cash tokens instead of directly on the Lightning Network, federated mints can handle a high volume of transactions off-chain, reducing load on the Lightning Network.[1][2] This enables scaling for large payments.
  2. Privacy: Transactions within the mint are anonymous and unlinkable, providing better privacy than regular on-chain or Lightning transactions.[3] This is beneficial for large value transfers where privacy is desired.
  3. Reduced Trust: Rather than trusting a single custodian, trust is distributed across a federation of parties running the mint.[1][4] This lowers counterparty risk for large transactions.
  4. Interoperability: Federated mints can integrate with the Lightning Network through "Lightning Gateways", allowing users to seamlessly make and receive Lightning payments from outside the mint.[4][5]
  5. Reduced Fees: By batching transactions off-chain within the mint, fees for large payments can be significantly reduced compared to on-chain or per-transaction Lightning fees.[1]
So in summary, federated mints enable better scalability, privacy and trust distribution for facilitating high-value Bitcoin transfers and payments over Lightning in a seamless manner.[1][2][3][4][5]
Sources [1] Discussing Federated Chaumian Mints On Lightning https://bitcoinmagazine.com/technical/federeated-chaumian-mints-lightning [2] Federated Chaumian Mints on Lightning (Scaling Bitcoin To 10 ...
[3] Federated Chaumian Mints : r/lightningnetwork - Reddit https://www.reddit.com/r/lightningnetwork/comments/qmq3pa/federated_chaumian_mints/?rdt=38228 [4] Fedi & Fedimint: Decentralised Chaumian E-cash on Bitcoin https://blog.bitfinex.com/education/fedi-fedimint-decentralised-chaumian-e-cash-on-bitcoin/ [5] What is a Fedimint https://fedimint.org/docs/GettingStarted/What-is-a-Fedimint
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