JamGosBTC on Nostr: For me the issue isn't even directly that it's too complicated - I have engineering ...

For me the issue isn't even directly that it's too complicated - I have engineering and science degrees and an quite comfortable coding. I use both custodial and non-custodial wallets for different circumstance and I understand the trade-offs of both. I use a custodial lightning wallet primarily for zapping on Nostr and other small payments, and it almost never has more than $20 in it. Would it suck having that rugged? Sure, but its a minor nuisance. Do I wish it was non-custodial? Sure. The problem is, for me to invest the time and effort in setting up the Lightning Node for that purpose alone is disproportionate to the amount of loss I would incur. Having said that, I'm excited to see how fedimints bridge this gap.

quoting nevent1q…q066

Running lightning nodes is too complicated for 99% of people

To do non-custodial lightning on your phone it needs to be online when you receive the payment and requires an initial onchain tx to receive.

This is terrible ux, so you are forced to use custodial solutions like wallet of satoshi, and privacy is terrible.

fedimint is a third option: the mint can provide a lightning address for receiving and sending out zaps even when you’re offline. This is private, temporary custody.

When the phone comes online it can choose to sweep fedimint funds into its non-custodial phone wallet (a future non-custodial ⚡️ wallet in damus as an example). In the UI this would be simplified as your custodied and non-custodied balanced summed to your total balance.

Damus’ fedimint would be federated with other guardians such as mutiny, so I can’t unilaterally rug the custodied balance. This is implemented as a multisig bitcoin wallet behind the scenes.

The use case is killing non-private lightning custodians who can unilaterally rug you. note12yd…8n9m