Major Milestone For The Fedimint Protocol \ stacker news ~bitcoin

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Major Milestone For The Fedimint Protocol tftc.io/fedimint-mainnet-release/

1157 sats \ 18 comments \ @OgFOMK 10 Jan bitcoin

Marty Bent of TFTC writes:

As we said yesterday, don't get fooled into thinking that bitcoin needs to be locked into the financial system. Bitcoin provides us with the ability to build a whole new system from scratch and it's happening right in front of Wall Street's face.

https://tftc.io/fedimint-mainnet-release/

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31 sats \ 3 replies \ @garyKrause_ 10 Jan

MOST PEOPLE ARE SLEEPING ON THE MODULE SYSTEM OF FEDIMINT. THIS WILL BE THE BIGGEST UNLOCK.

10 sats \ 2 replies \ @OgFOMK OP 10 Jan

I don't know what you all caps-ed, but I zap anyway.

10 sats \ 1 reply \ @garyKrause_ 10 Jan

IT'S A WAY TO HAVE FUN. I WAS TOLD WE SHOULD HAVE FUN IN 2024. I AM TRYING.

10 sats \ 0 replies \ @OgFOMK OP 10 Jan

Ah, Good answer! May the caps-lock be with you!

10 sats \ 0 replies \ @TNStacker 10 Jan

Revolutionary for individuals, communities, and especially people in developing nations!

10 sats \ 0 replies \ @kytt 10 Jan

I don't have time to deep dive yet, but what is the learning curve for running a Fedimint? I have some other things I'm working on, but absolutely plan to run one.

10 sats \ 2 replies \ @DiedOnTitan 10 Jan

I will be following Fedimint closely and it does look exciting. I have been thinking about this particular tradeoff:

You are trusting the federation of mint operators not to collude to steal your bitcoin.

Is it not possible to mitigate or remove this aspect without turtling all the way down?

10 sats \ 1 reply \ @geisterde 10 Jan

Its partially mitigated by things like mint operators not knowing whos bitcoin is whose, not having visibility into who sends nuts to whom, and IIRC there are measures to verify mint operators still have the amount of bitcoin as was given to them. So mints can steal, but not with precision and likely at the cost of further operation, I suppose unprofitable mints have an incentive to steal everything before finally shutting the mint down.

0 sats \ 0 replies \ @OgFOMK OP 10 Jan

From "game theory" to "game 😹".

10 sats \ 8 replies \ @TheBTCManual 10 Jan

I am really bullish on Fedi for developing markets, while I think there will be ruggings with this tech as people set up scam mints, you know people can use tech in malicious ways, I still think that federation composition is going to be an important custody model not only for scaling but bringing in users who didn't find the current options appealing

10 sats \ 7 replies \ @kytt 10 Jan

Setup your own non-scam mint.

21 sats \ 6 replies \ @TheBTCManual 10 Jan

I will be experimenting with it for sure, maybe just one for my family, hope more wallets start to support it soon, so far I've tried out fedi wallet and Mutiny

10 sats \ 5 replies \ @kytt 10 Jan

Fedi Wallet? I can't find this. Can you share a link to it?

21 sats \ 4 replies \ @TheBTCManual 10 Jan

It was this testnet wallet I tried out

https://www.fedi.xyz/builders

10 sats \ 3 replies \ @garyKrause_ 10 Jan

MUTINY WALLET HAS FEDIMINT INTEGRATION AS WELL.

10 sats \ 1 reply \ @TheBTCManual 10 Jan

Lol bro I just said that in my initial comment wtf?

0 sats \ 0 replies \ @OgFOMK OP 10 Jan

The repetition is for blond people like me. Shiny thing works, too.

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0 sats \ 0 replies \ @kytt 10 Jan

Isn't that being a part of their federation, though?