CAN FEDIMINTS ASSIST IN BITCOIN'S GLOBAL SCALE?

[StanCrypt]

David Chaum, a computer scientist, introduced e-cash, a novel method for users to spend digital money without disclosing their personal information, 33 years ago.
Similar to these carbon slips, Chaum's DigiCash issued "cyberbucks," which were online virtual credits that could be converted into dollars through banking partners. His vision for the early 1990s was a society where people could go about their everyday business, shop, and transact without fear of being watched by a burgeoning Orwellian corporate state.

Unfortunately, Chaum's strategy was unsuccessful. DigiCash filed for bankruptcy in 1998 because it struggled to establish itself as a recognized business. Following the September 11, 2001 terrorist attacks in New York City, American and European authorities implemented a new round of financial security measures.
These "know your customer" and "anti-money laundering" regulations put an end to any possibility that establishment banks could actually protect the financial privacy of their customers. The dream of e-cash was over.
Chaum's concept is currently, however, being revived and improved upon as a result of an unusual partnership in the Bitcoin community.

https://bitcoinmagazine.com/culture/will-fedimints-bring-bitcoin-to-the-world

My question is CAN FEDIMINTS ASSIST IN THE WORLDWIDE SCALE OF BTC?

What are your thoughts on this..

[DooMAD]

Not sure if it's something I'd use very often, but it definitely sounds preferable to centralised custodians.  I suppose the only issue is incentivisation.  Many people leave funds on exchanges for convenience when trading alts, but there doesn't appear to be much of a use for funds held in a Fedimint.  Aside from being able to withdraw, what else can you do once your funds are in there?

[StanCrypt]

Not sure if it's something I'd use very often, but it definitely sounds preferable to centralised custodians.  I suppose the only issue is incentivisation.  Many people leave funds on exchanges for convenience when trading alts, but there doesn't appear to be much of a use for funds held in a Fedimint.  Aside from being able to withdraw, what else can you do once your funds are in there?

Many of our issues are resolved by Fedimint in a single system. It provides us with an additional degree of security to maintain the whole decentralization, anonymity, and ownership of bitcoin.

It also provides a way for bitcoin users to distributes trust. With the help of the open-source protocol FediMint, teams of people can establish federated Chaumian Mints for Bitcoin. People who deposit bitcoin to these federated mints receive Ecash tokens, which stand in for various sat denominations.

In exchange, they can send these to other users within the mint while maintaining a high level of secrecy. Members of the federation are unaware of who is transacting with whom once users have entered the federation and are using Ecash tokens. This is a highly innovative technique to improve end users' privacy while fostering a setting in which bitcoin may grow to serve billions of users as well.

[Doan9269]

Unfortunately, Chaum's strategy was unsuccessful. DigiCash filed for bankruptcy in 1998 because it struggled to establish itself as a recognized business.

we have lots of developers as well from the past who has started something related to this but eventually couldn't make it to the final stage for launch, they only work on their projects but got abandoned along the way for some reasons, but Satoshi happens to be the fortunate and successful founder to launch his long researched project (bitcoin).

Following the September 11, 2001 terrorist attacks in New York City, American and European authorities implemented a new round of financial security measures.
These "know your customer" and "anti-money laundering" regulations put an end to any possibility that establishment banks could actually protect the financial privacy of their customers. The dream of e-cash was over.

what happened during these times were not intended to turn to what it has becomes now, they also must have regretted their actions because this centralization of a thing also affect them as well, later the masses discover a need to have privacy and realised all that had been instituted by government (AML and KYC) were just a deprivation to human right and insecure financial system, then comes the lasting solution which is bitcoin.

[DooMAD]

It provides us with an additional degree of security to maintain the whole decentralization, anonymity, and ownership of bitcoin.

I can definitely see the privacy advantages.  But, while that's certainly an important consideration for some, I don't think it's enough of a draw for most newcomers to the space.  Particularly when a large number of new users are drawn in with tales of profit for day-traders.

I think if more people were introduced to Bitcoin as "be your own bank" instead of as a get-rich-quick scheme (like most people are incorrectly introduced), the idea might see more interest.

[estenity]

Starlink and fedimint ?
see paper..

https://www.zerohedge.com/crypto/how-starlink-changes-bitcoin-mining-and-improves-decentralization

[franky1]

fedimint.. is basically just a adjective for blockstreams Liquid

its a AEC(anonymity enhancing currency) which by regulatory standards is a 'no..no' (red flag) which is why unsurprisingly for services like coinbase(sister to blockstream) coinbase does not use liquid

yep even coinbase is staying away from using its own sister companies product.
yep coinbase doesnt want to use its sisters companies "fedimint"

though i do detest all products and services made by the power house of DCG(mother of all services/products like coinbase/liquid and LN and blockstream)
from a security flaw point of view. liquid is not perfect(locking funds up with a group of people who have signature authoirity over funds(federation))

but liquid has less flaws than say LN which even if they turned a LN "hubs"(factory) into a confidential TX contract system to get closer to being the liquid federated contract system.. LN is still weak and broke for multiple other reasons. even LN devs lose value and admit to many flaws(though certain people of fanboyism will never admit to their utopia being broke)

so i cant see that everyone would want to abandon bitcoin and offramp to these silly side/subnets like liquid/LN for many reasons of un-acceptablility with MSB/VASPS(exchanges)
as well as the security and bugs of things like LN

there might be a new network without the flaws/issues in the future for some users to use as a niche/temporary use side service .
there may even be bitcoin onchain solutions to scale.

but liquid/LN are not the solutions to scaling

(i expect the same dozen people that adore DCG to now threaten/insult/and just cause social drama because i put their idol they adore so much, to shame)
bored of the social drama. so why bother