How FediMints could ease onboarding and privacy in Bitcoin w/ Eric Sirion and Matt Odell | Opt Out Podcastoptoutpod.com/episodes/s3e01-fedimints/
493 sats \ 4 comments \ @sethforprivacy 11 Jul 2022 bitcoin
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10 sats \ 0 replies \ @Spartan 11 Jul 2022
Just finished the pod, and am Bullish AF on FediMints now.
I think many people like myself are the sole technically minded person in a sea of non-technical people. With FediMints, we will finally be enabled to leverage our technical backgrounds to do something meaningful for the people we care about, as it relates to Bitcoin. Much in the same way that we were the people who fixed grandmas computer, or helped other setup friends' WiFi networks. This will become a way to genuinely help.
In terms of monetization, I tend to agree with Odell. While philosophically I want an Uncle Jim (non-monetized) version to proliferate, I think there are many ways to build a business around FediMint. Some tied directly to being a federation member, and some indirectly. Say you have an audience that trusts you, like Odell does. He makes money from podcasting and donations. What's to stop him from becoming a mint, but not monetizing that aspect of it. Thereby deepening trust and loyalty.
Or how about someone who wants to help with Bitcoin education at a local, boots on the ground, level. Perhaps they could be a federation memnber, and sell consulting / accept donations to run their business and also be a mint at the same time. They build trust through their business, and deepen the trust by acting as a custodian signer in the federation.
This is going to be big, and I really cannot wait to get my hands on it.
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51 sats \ 2 replies \ @cryptocoin 11 Jul 2022
This episode, we're sitting down with Eric Sirion and Matt Odell to chat about FediMints, a fascinating and unusual new proposal that seeks to ease onboarding and privacy on Bitcoin with important trade-offs.
More about Eric Sirion and Matt Odell:
Eric Sirion's guest profile -- https://optoutpod.com/guests/eric-sirion/ Matt Odell's guest profile -- https://optoutpod.com/guests/odell/
More about FediMints:
Website -- https://fedimint.org/ Github Organization -- https://github.com/fedimint FediMints Telegram room -- https://t.me/+-AsKtcH4Geo2ZTU0 Citadel Dispatch episode feat. FediMints -- https://citadeldispatch.com/cd45/
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51 sats \ 0 replies \ @cryptocoin 11 Jul 2022
This episode on Youtube:
How FediMints could ease onboarding and privacy in Bitcoin w/ Eric Sirion and Matt Odell
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51 sats \ 0 replies \ @cryptocoin 11 Jul 2022
Timestamps:
2:04 Eric and Matt introduce themselves 4:48 What was it that woke you up to the need for more attainable privacy on Bitcoin? 10:14 What prompted the creation of FediMint? 19:35 What would you hope users get from using FediMint? 34:02 What are the key trade-offs with FediMint, and why do you view them as worth it? 42:09 A shoutout to Opt Out's sponsors 43:41 How does FediMint provide strong privacy to users despite being custodial? 47:12 What are your thoughts on the legal and regulatory attack surface FediMint may bring on custodians and users? 57:29 What financial incentive do FediMint custodians have, and how can they build a business model around FediMint? 1:05:03 What does user authorization/access look like? Are seed-phrases unnecessary? 1:11:20 How does FediMint pair with Lightning? How are they symbiotic? 1:21:42 How do you view the tradeoffs of FediMint vs using Monero for spending while saving in Bitcoin? 1:30:02 How can listeners help support what you're doing with FediMint?
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