Appreciate the response. I fully agree that the privacy issue is a real problem. But what I still struggle with is the other side of the coin. If bitcoin is don’t trust, verify then doesn’t hiding the transactions defeat that purpose? I get that the main chain is then used for settlement so the funds themselves are what is verified on the distributed ledger. But in the case of the fedi mint isn’t this then honeypotting the settlement funds to a single source? Maybe I’m missing a big step here, I’m just trying to reason through this without a heavy tech background