0 sats \ 14 replies \ @siggy47 OP 22 Jan \ parent \ on: Starting a Family Or Local Federation? ecash
I'm weighing the benefits of using my ln node Uncle Jim style v. fedi. I guess theoretical fedi benefits would be more reliable transactions and greater privacy.
If you plan to be the only custodian for your family you don't need to build up a federation, and you could use Cashu instead of Fedimint, at least to get started for the time being. It's working already and integrated as a module of LNbits, so it should be easy to set up.
Perhaps later, when some of the people on your family get some interest and skills, you could move to a fedimint. :-)
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If you plan to be the only custodian for your family you don't need to build up a federation, and you could use Cashu instead of Fedimint. It's working already and integrated as a module of LNbits, so it should be easy to set up.
Are there any tips to set this up for non dev folks that you could point to?
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Have a look at this article: https://bitcoinmagazine.com/print/how-to-guide-running-an-ecash-mint. From it:
"As a user, click on the extension and create a new Cashu mint. Enter the details for your mint and select the backend wallet that will be used for funding the mint. That’s it! You can copy the mint URL and use it with any Cashu wallet, such as Nutstash.app or Cashu.me."
It sounds easy, once you have your LN node and LNbits set up, that is.
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Have a look at this article: https://bitcoinmagazine.com/print/how-to-guide-running-an-ecash-mint. From it:"As a user, click on the extension and create a new Cashu mint. Enter the details for your mint and select the backend wallet that will be used for funding the mint. That’s it! You can copy the mint URL and use it with any Cashu wallet, such as Nutstash.app or Cashu.me."It sounds easy, once you have your LN node and LNbits set up, that is.
Appreciate you sharing this. Going to give it a try now as I have an LN node setup via LND and just installed LN Bits
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Report back when you try, please. I'm interested as well, but I haven't set up my own LNbits yet... :-)
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Report back when you try, please. I'm interested as well, but I haven't set up my own LNbits yet... :-)
Question. If I deposit 100k sats into my mint, I of course see the total mint balance as 100k sats.
If my wife joins my mint and she deposits 100k sats, does she see a total of 200k sats or she just sees what she herself deposited into the mint?
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She should only see hers, and so should you if you use the Cashu wallet (eNuts, etc.), although the mint has 200K and you should be able to see it on the server. I can't tell you how, since I haven't installed LNbits, yet, but this is what I understand from all the readings about it. I hope it helps.
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That makes sense. Yea, using eNuts as well. I initially thought if anyone joined my mint, I wouldn’t see the balance increase from their deposit on the server but it sounds like I would see the balance increase in LNBits but I wouldn’t necessarily know who it belong to. Hopefully I got that right!
Good idea.
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In a familiy setup its probably way easier to just use cashu.
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In a familiy setup its probably way easier to just use cashu.
Hmmm, understandable. I think I got maybe 2 more wallets to offer my wife to try before she gives me a permanent eyeroll haha, so I’m looking forward to when Fedi and Cashu come out of Beta and is ready for prime time. I have enuts and Fedi the last few months testing them out.
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I'm weighing the benefits of using my ln node Uncle Jim style v. fedi. I guess theoretical fedi benefits would be more reliable transactions and greater privacy.
I think both sound good to me. It’s good to run our own nodes for the education of learning how to do it and if one of the benefits is that we could Uncle Jim family and friends, then that’s a great bonus. As well as help the network too.
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