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0 sats \ 5 replies \ @notgeld OP 12 Sep 2022 \ parent \ on: Standard Sats against Fedimint Hype bitcoin
Fedimint has nothing to do with fiat and therefore doesn't need any hedging on exchanges.
Exactly like just Hosted Channels working with sats and nothing more.
The e-cash will just be satoshis in the case of Fedimint and the wallets with Fedi support will look like normal lightning wallets and only show satoshis.
Simple Bitcoin Wallet works exactly this way.
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0 sats \ 4 replies \ @f321x 12 Sep 2022
Hosted channels don't have federated custody, sbw is the best example (dev in war, future of node uncertain, see twitter). Much more unlikely to happen with Fedimint.
Also with Fedimint you have less resource hungry wallets (no pathfinding on the phone) with same or better privacy (don't know exactly).
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0 sats \ 3 replies \ @notgeld OP 12 Sep 2022
Only if Federation is distributed geographically. In that scenario it will be either trusted setup or local "community" bank should become relatively large.
If you talk about the Host which is owned by Uncle Jim who went to fight, it will likely mean that all villagers went to fight.
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0 sats \ 2 replies \ @f321x 12 Sep 2022
You can choose your federation, if some of the members get unreliable you can withdraw your sats. If you chose the wrong HC and the host rugpulls it's too late
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0 sats \ 1 reply \ @notgeld OP 12 Sep 2022
Yes. How I could distinct one federation from another? Wouldn't you suggest that people will use big-brand federations eventually and it ends up with Liquid-like network?
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0 sats \ 0 replies \ @f321x 12 Sep 2022
That's up to you, there will be big federations and small ones run by enthusiasts.
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