Jeroen Ubbink on Nostr: To me losing funds is just an indication that people have been spoiled by having ...
To me losing funds is just an indication that people have been spoiled by having insane amounts of security on everything in life. You are super protected from anything ever going wrong. This is the mindset that is super ingrained because this has been the status quo fornall of our lives.
A free market has to emerge from loads of actors trying to participate. There are no institutions here to hold your hand by putting up walls of regulations so that only a few can enter and dominate. We want a free market that anybody can enter right? You just have to start from zero and build up reputation as a good mint operator. Or do we really want regulations and licenses invented and handed out by some kind of institution?
This not only means that there will be hobbyists running mints and losing your funds but there will be bad actors rugging you once the market becomes big enough.
If this makes you feel uncomfortable then you should not put any money on any mint. Plain and simple.
Good mints will have to emerge from reputation. I have not seen any mints with thousands of users, to me this indicates infancy in the mint so just stay away from it if you can't afford to lose a single sat.
A free market has to emerge from loads of actors trying to participate. There are no institutions here to hold your hand by putting up walls of regulations so that only a few can enter and dominate. We want a free market that anybody can enter right? You just have to start from zero and build up reputation as a good mint operator. Or do we really want regulations and licenses invented and handed out by some kind of institution?
This not only means that there will be hobbyists running mints and losing your funds but there will be bad actors rugging you once the market becomes big enough.
If this makes you feel uncomfortable then you should not put any money on any mint. Plain and simple.
Good mints will have to emerge from reputation. I have not seen any mints with thousands of users, to me this indicates infancy in the mint so just stay away from it if you can't afford to lose a single sat.