EthanTuttle on Nostr: > A fedimint of a group of 5 is also liable to the risks of 5 peoples lives. There is ...
> A fedimint of a group of 5 is also liable to the risks of 5 peoples lives.
There is a threshold quorum to move funds? so the majority of these 5 would have to collude to aid the one child.
> The whole basis for fedimint is based on an anthropological error made by wealthy westerners AND wealthy disconnected Africans about the people they are trying to help.
I don't claim to understand any culture other than my own (western), and even saying that would be a stretch, so your assertions of other cultures outside of western culture may or may not be accurate. However, it does seem that you're only considering one use case of fedimint and not other cases. It's a modular system that can be extended to custody and reach a threshold consensus on arbitrary data. Taking custody of bitcoin is only the default use case. I anticipate many more to be developed.
Multi-national corporations can custody their money and data across jurisdictions in a secure way. Market providers can build an entire ecosystem around their market with modules to customize how the marketplace works. Offline payments with ecash open up a whole heap of other use cases, for example, I only accept communications with valid ecash attached to them.
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we already covered the writing critique in another thread. 😅
There is a threshold quorum to move funds? so the majority of these 5 would have to collude to aid the one child.
> The whole basis for fedimint is based on an anthropological error made by wealthy westerners AND wealthy disconnected Africans about the people they are trying to help.
I don't claim to understand any culture other than my own (western), and even saying that would be a stretch, so your assertions of other cultures outside of western culture may or may not be accurate. However, it does seem that you're only considering one use case of fedimint and not other cases. It's a modular system that can be extended to custody and reach a threshold consensus on arbitrary data. Taking custody of bitcoin is only the default use case. I anticipate many more to be developed.
Multi-national corporations can custody their money and data across jurisdictions in a secure way. Market providers can build an entire ecosystem around their market with modules to customize how the marketplace works. Offline payments with ecash open up a whole heap of other use cases, for example, I only accept communications with valid ecash attached to them.
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we already covered the writing critique in another thread. 😅