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I never really got Cashu or Fedimint.

After a long call with Jeremy Hill and Jonathan Wilkins during our catchup call (I invested in their startup), they explained how they were going to be using Cashu for their bitcoin powered VPN network …

I had to ask a lot of questions but I think I finally understand it.

It seems like it is a way to do allow for *infinitely scalable* and *private* transactions of sats.

🤯

Is real?

Am I understanding it properly?

If so, and if it works, how is this not one of the most incredible developments in Bitcoin history!?

182❤️5🤙6

₿log · 158w

Fedimints look like our best chance at scaling bitcoin, if we can do it while avoiding fractional reserve.

Blocktent · 158w

Custodial, yes. There are issues, known issues and Calle explained them very well on whatbitcoindid. Fedimints are somewhat of a federated cashu mint. So there is reduced counterparty risk as the counterparty would be federated. Cashu as I understood is super fast to set up and make your own mint...

owenkemeys · 158w

Cos it’s still custodial, just much less bad type of custodial. You’re not transacting sats, but sats IOUs. Conceptually just like fiat started out, which worked ok until the rugpulls. That said, the people working on bitcoin ecash are smart, realistic, know its weaknesses and are working to mit...

Mags · 158w

Yes! This is a similar but very different L3 implementation for privacy on lightning (plus you can do 🤯 things like offline tx): https://asats.io/ Being worked on by a Canadian too

RamenCoffee · 158w

you give up soveirgnty for anonymity. It's not all roses. It's good but you can't just park you $ in there. meaning you have to move in and out of it. the state is going to paint any funds going through those as criminal.