It's very forward thinking- the idea is that in the future potentially blockchain transactions will be heavily tracked. A bad actor be it a criminal, government, or criminal government could piece together who people/entities are and go after them & their coin. Fedi is a shield against this. John McAfee warned about this suggesting that this was a huge flaw in Bitcoin, but Jeff is solving this on layer 3. As someone that is educating others on Bitcoin, I need full confidence in what I'm talking about and recommending. I have so many questions I'm not sure where to start, but this looks like something I want to onboard everyone I know to.
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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
I’ll be doing a podcast with nostr:npub1cj8znuztfqkvq89pl8hceph0svvvqk0qay6nydgk9uyq7fhpfsgsqwrz4u in 2 weeks and we’ll make sure to cover this extensively.
High level here is now that the OG guardians are unknown to each other and unknown to Fedi. That allows anyone to start a federation (and use 3 other guardians) without risk of collusion. Because all of these federations are interoperable through lightning, an analogy to bitcoin is that it scales “nodes” (these nodes can’t be found) and all transactions and communications are only peer to peer on top of that foundation.
So I as a user can now create my own federation (with whatever rules and limits that I decide) and protect my friends/family or anyone else who wants to join my federation with complete anonymity.
