Mutiny and fedimint \ stacker news ~bitcoin

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1073 sats \ 20 comments \ @BallLightning 3 Aug bitcoin

I saw that mutiny no longer lists federations and you need to manually discover them if you want to add one. I know that some time ago there was a problem with their freedom one mint so maybe this is related.

My question is how do you really discover federations? I know about https://bitcoinmints.com/, but there is almost no information about each mint. Who runs it? How many guardians does it have? How long has it been up? Discussion about is it reliable and trustworthy? I also can't really find anywhere anyone discussing individual federations. Is there such a place?

I know that you are supposed to personally know the guardians, but is this really the common use case today?

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121 sats \ 0 replies \ @byzantine 4 Aug

i'm hopeful they will add a directory back again so that their lightning addresses can work again

135 sats \ 2 replies \ @Bell_curve 4 Aug

I tried joining a couple but no luck. It seems like many are not accepting new members

21 sats \ 0 replies \ @BallLightning OP 4 Aug

I can tell you three you can join successfully, but I won't since as I have said there is currently no way to discover anything about a specific mint. No way to know how long it's been online, how many bitcoin it has, how many guardians it has, who are the guardians and so forth.

21 sats \ 0 replies \ @sangekrypto 4 Aug

looks like we have the same case, I can't join either, it seems limited, I want to try it.

100 sats \ 3 replies \ @nullcount 4 Aug

Ecash tech is "cool", but not "good enough" to resist nation-state bullies from calling you names like "unlicensed money transmitter" and "unlicensed money service business".

10 sats \ 2 replies \ @random_ 4 Aug

What is?

10 sats \ 1 reply \ @nullcount 4 Aug

If someone else can lose "your" money (or the money which backs your eCash IOUs), its not good enough to avoid regulation.

0 sats \ 0 replies \ @random_ 4 Aug

What is good enough to resist nation-state bullies from calling you names like "unlicensed money transmitter" and "unlicensed money service business"?

100 sats \ 1 reply \ @SatsMate 4 Aug

Didn't one of the mints face issues technically a few months back with Mutiny Fediments? How has that progressed?

0 sats \ 0 replies \ @BallLightning OP 4 Aug

I have no idea. And also i don't know why nobody is giving updates on it.

21 sats \ 1 reply \ @IamSINGLE 4 Aug

Can we not create our own Fedimints? It would be nice to have a SN Fed?

0 sats \ 0 replies \ @Wumbo 4 Aug

This sounds like a great use case.

Using one's SN reputation prompt a Fedimint

10 sats \ 1 reply \ @cyberpunk02 4 Aug

here seems like a good place, who's using what mint?

0 sats \ 0 replies \ @carlosfandango 4 Aug

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2 sats \ 1 reply \ @Coinsreporter 4 Aug

When I first used mutiny, my issue was how can I trust any of the federation from the list when you don't know anything about them.

0 sats \ 0 replies \ @BallLightning OP 4 Aug

This is a real issue that I have no idea why this is the case. There is no info about any federation anywhere.

0 sats \ 0 replies \ @standard_sats 4 Aug

Just use non custodial Lightning Valet for Android.

https://play.google.com/store/apps/details?id=com.btcontract.walletfiat&pcampaignid=pcampaignidMKT-Other-global-all-co-prtnr-py-PartBadge-Mar2515-1

0 sats \ 2 replies \ @jerrybature 4 Aug

Mutiny wallet is great, Fedimint is not, imo. I find Fedimint complicating every-bitcoin rather that simplifying things. People should be educated to know more about Bitcoin as a self-sovereign tool rather than trying to create communities of what? I don't know. I find it hard to really understand what Fedimint is all about. Sorry.

0 sats \ 1 reply \ @BallLightning OP 4 Aug

Fedimint is a scaling solution for bitcoin.

It is impossible for everybody to have a lightning channel. Run the numbers and you will see that opening a channel for everybody will take years.
With fedimint a new user can have ZERO sats and you can send them 10 sats with no problem. And he will have 10 sats. You can't do that with Lightning. And receiving a small amount of money is the natural first experience that somebody should have with bitcoin. "You have to have money to receive money" is really a big problem. PLEASE, PLEASE, PLEASE people, stop pretending like this is not an issue.

If somebody super smart manages to find a way to do 2. without sacrificing custody, I am all for it and will be happy. But currently this is not the case and we all need to accept the reality.

P.S. Why do you say "Sorry" at the end?

0 sats \ 0 replies \ @jerrybature 4 Aug

To be honest, I've not yet took time to learn Fedimint because of the negative picture I have about the project. But with your above explanation, I'll my best to study it. Thanks a lot.