Interesting!
I’ve liked the model of Fedimints being community-based from the beginning - the trust tradeoff is counter balanced with the social proof of the custodians
That therefore implies that if the use of a particular Fedi steps outside that community group then there’s a potential undermining of that balance
Then Cashu came along and their public open development and speed of operation has been very impressive and interesting to watch and to experiment with; that aspect of openness in development has been a big differentiator between the two
A 🤯 moment for me was when Calle was able to implement MPP from multiple mints to execute a single ⚡️tx .. this opened a route to mitigate the single-mint trust risk (fast rug) by spreading funds across multiple mints
Both projects openly acknowledge the slow-rug risk (nefarious debasement)
Initially i thought that risk is higher in a single operator mint than in a fedi .. but fedi have done fantastic work in making it easy to launch mints (reducing technical expertise barrier) but ironically that means most likely only one of the custodians needs to be technically savvy and the other (visible and socially trusted) custodians are not necessarily
On balance, the reality is that these two approaches may not be that far apart on actual risk in the real world
Which leads us back to social trust and networks of trust which are highly relevant to both projects and to many other nostr-focused ones too. If emerging mechanisms flourish, then they’ll have a role in seeing either implementation flourish in believe
What is the key reason/reasons why you think cashu is (currently?) only for experimental use? Better stability/maturity of Fedi given age and progress of project?
btcschellingpt
npub1nvf…e7zd
2024-05-26 02:01:36
in reply to nevent1q…r8l0
Author Public Key
npub1nvfgglea9zlcs58tcqlc6j26rt50ngkgdk7699wfq4txrx37aqcsz4e7zdPublished at
2024-05-26 02:01:36Event JSON
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"content": "Interesting! \n\nI’ve liked the model of Fedimints being community-based from the beginning - the trust tradeoff is counter balanced with the social proof of the custodians\n\nThat therefore implies that if the use of a particular Fedi steps outside that community group then there’s a potential undermining of that balance\n\nThen Cashu came along and their public open development and speed of operation has been very impressive and interesting to watch and to experiment with; that aspect of openness in development has been a big differentiator between the two\n\nA 🤯 moment for me was when Calle was able to implement MPP from multiple mints to execute a single ⚡️tx .. this opened a route to mitigate the single-mint trust risk (fast rug) by spreading funds across multiple mints\n\nBoth projects openly acknowledge the slow-rug risk (nefarious debasement) \n\nInitially i thought that risk is higher in a single operator mint than in a fedi .. but fedi have done fantastic work in making it easy to launch mints (reducing technical expertise barrier) but ironically that means most likely only one of the custodians needs to be technically savvy and the other (visible and socially trusted) custodians are not necessarily\n\nOn balance, the reality is that these two approaches may not be that far apart on actual risk in the real world\n\nWhich leads us back to social trust and networks of trust which are highly relevant to both projects and to many other nostr-focused ones too. If emerging mechanisms flourish, then they’ll have a role in seeing either implementation flourish in believe\n\nWhat is the key reason/reasons why you think cashu is (currently?) only for experimental use? Better stability/maturity of Fedi given age and progress of project?",
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