Basically speaaking, yes.
It's possible to use the program called 'mail' to (duh) deal with your mail. It's--in my not so humble opinion--completely bollox though, except perhaps for programatically shipping mail around, so I recommend a better mail client. I use mutt, which "outsources" editing outgoing mail to $EDITOR (that is, your editor of choice).
Anyways, to do so, you need to install (and correctly configure) a mail transfer agent such as exim. Read the manuals, read the config file, ask in #exim or (I guess) #fedora, that should generally work out okay.
One problem, though, is that by default mail I send out seem to be coming from email@example.com
(that is, your-username <at> your-machine).
Unless you're one leet sysadmin, you're probably going to have lower uptimes than most decent email providers, so you don't wan't to tell people to send their mail to firstname.lastname@example.org
--but bounce messages (and other "control traffic") look at your from-address.
You fix this (or at least I
fixed this) by adding a line to /etc/email-addresses, saying "jonas: email@example.com
"; that is, "username: <email address I want people to think I'm sending from>". So all the mail servers you talk to will believe you're coming from (in my case) firstname.lastname@example.org
, and thus send all replies to that address (use your favorite gmail, yahoo, hotmail or whatever account).
Also, this is somewhat beyond answering your question, and a bit of pimping my own preference, but here's what I do: I have a "public" account (at sourceforge) which I tell people to mail me at; all mail sent to that account is then forwarded to my private "backend" account.
The benefit of doing this is that you can switch backend account without going around telling your friends (and mailing lists) that "I've changed my email address yet again". Currently, I use mailshack as a backend, and they've worked without complaints. I then use fetchmail to automatically download any email in my backend account to my machine (via the pop3 protocol, so you can do this for free with gmail, AFAIK, for a price with yahoo mail, and not at all with bloody fascist microsoft hotmail).
Warning: if you are offended by reading a fucking few swearwords, please do not read this post