@fedibtc @fedimint π β Reynolds Foundation @finneyprize @GridlessCompute β #Community #Privacy #Freedom #Bitcoin
Bitcoin. Fedimint. Lightning.
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The Bitcoin industry is paid to recommend certain ways to secure your Bitcoin that are not necessarily the safest.
I ran a Bitcoin exchange for nearly a decade. Now I run Fedi. I have incentives too.
Hereβs what nobody gets paid to recommend.
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Bark serving as the LN backend for a Fedimint. π₯
Working on new ways to connect Fedimint to Lightning with bark by @secondhq
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By this time next year, it will be almost impossible to safely use the internet.
- Instant messaging will be rife with fake or hacked accounts.
- Social media will be 99% AI-generated content, perfectly designed to maximise your addictive response.
You'll be forced to employ an AI "food taster" - much like spam filters do for your email - to to ensure you are safe while you browse.
Alternatively, you could unplug from the internet, connect with your community, and touch grass.
My guess is people are going to be doing much more on both.
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Working on new ways to connect Fedimint to Lightning with bark by @secondhq
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"A community that can talk freely but can't pay each other privately is still captured. A community with private money that coordinates on watched channels has handed over the map anyway." - @JeffBooth
jeffreybooth.com/articles/prβ¦
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The cost of security exploits in the age of AI is rapidly trending to zero. Here are my thoughts as to what this means.
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With @fedimint, your security set up looks like that of institutional bitcoin security setups.
Your keys are stored:
1. In multiple locations
2. On multiple devices
3. On different software implementations
4. With multiple custodians
@obi recently explained this on @watchbmtv:
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Fedi CEO Obi Nwosu says to assume you will get hacked in the new AI age:
"AI drives down the cost to exploit. It makes it basically free."
The solution? Coinbase-grade multisig and timelocks, now:
"Simple enough for any individual, any community or any family to run and have the same safeguards in place." π
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"The protocol requires privacy." Jeff Booth on the @darkside2030 and @puncher522 Space with @fedibtc. Here's a free Fedi guide that tries to simplify it: few.guide/guides/fedi.html
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Group saving with Multispend is one of the most powerful and under appreciated features within the Fedi app.
More info here:
People have managed money together long before joint bank accounts existed.
The Multispend feature in the Fedi app lets you save with your group in a shared wallet you manage together.
In our recent article, we explained how Multispend works and how it differs from traditional joint wallets.
The article link is in the thread.
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Fedimint aims to remove single points of failure with your Bitcoin custody.
But having one codebase was an obvious gap.
In Berlin, members from the @Fedimint and @CashuBTC community made great inroads in resolving that situation.
bitcoinmagazine.com/featuredβ¦
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Community custody means no-single-point-of-failure custody. π
Self-custody sounds simple, but managing your keys can be challenging.
@vryfokkenou of @BitcoinEkasi points to this problem. Custodial Lightning is becoming harder to rely on, while self-custody puts all the responsibility on the individual. Lose access to your wallet, and no one may be able to help.
However, thereβs a fourth way: Community Custody.
With community custody, @fedimint distributes control across a group of trusted Guardians. You get the security of shared control, removing the entire burden of key management from yourself.
For many people, community custody could be a better fit than self-custody.
Click the link in the thread to learn about the different custody models and why community custody is one you should consider.
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Happy Ecash Coffee Day!
Canβt believe itβs been five years since the first ecash transaction in sats.
But step by step the ecosystem is maturing as recognition for the need for federated private transactions on Bitcoin is growing.
More bullish on ecash than ever!
Happy Ecash Coffee Day! ββ‘οΈ
Five years ago today, someone bought a cup of coffee with ecash on Bitcoin for the first time.
Here's the story of that coffee, and why it still matters π§΅
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The currency exchange business should be on notice... Trading sats for local currency (rupiah) in Indonesia @Silatoshi_id
60,000 sats made me a rupiah millionaire.
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As @fedimint and @CashuBTC both move ecash forward at @btcplusplus in Berlin this week, hereβs a look back at Milton Friedmanβs vision for its power to protect privacy and freedom 27 years ago.
So much exciting stuff happening in the federated ecash space.
@EricSirion yesterday, @calle and @joschisanbtc today.
Federated ecash is so hot right now!
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Just caught @joschisanbtcβs talk in BTC++ Berlin on @fedimint and am blown away. As someone who is ecash-agnostic I donβt think thereβs another project in bitcoin thatβs using as much cutting edge black magic tech in pursuit of their goals. Incredibly impressed.
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Federate all the ecash! π
The FROST basis for this new design enables composability across the ecosystem,
with @bitcoindevkit to power onchain, and Bark (@secondhq) to power the Lightning!
@callebtc @btcplusplus
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