20 sats \ 1 reply \ @TheMorningStar 24 Oct \ on: Fedimint: Scaling Bitcoin for Billions of People? bitcoin
I know a little bit but it's the same as centralized exchanges in some way. There I trust a company and here a bunch of people.
Sorry if I'm wrong. Please correct me.
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0 sats \ 0 replies \ @teemupleb OP 24 Oct
Yes, it’s not self-custody.
The major differences between fedimints and centralized exchanges are that fedimints don’t have a view on your balance/transactions.
Also, the assumption is that Fedimint guardians are less likely to rug pull because they have more social capital at stake.
With fedimints, more bitcoin would be held by these federations instead of CEXs, ETFs etc.
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