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Replies (88)

↩ replying to The Daniel 🖖
Once a mint rugs someone they loose all credibility… and then nobody would want to use that mint anymore. So it’s in their best interest not to rug because then nobody would use that lint anymore. Use it for small amounts only Like spending cash in your wallet. You wouldn’t walk around with thousands of dollars in your wallet because you could get robbed It’s not a savings account But also you could run your own mint and not have to trust anyone Or you could diversify across hundreds of mints. Or your local bitcoin meetup could run a mint and you know those people in real life so if they rugged you . You could r mess up their reputation….
↩ replying to npub1ht4c...qeku
But what if they don't give a shit about reputation? Maybe not the current big ones like minibits, coins etc. But the future ones. Imagine Shitcoiner setting up cashu mints and after a long time and a certain amount of Bitcoin, people hold on the mints, they rug. Maybe got millions of dollars, enjoying life and setting up new mints. Like shitcoin ICOs back in 2017 or so but with mints? Would that be possible?
↩ replying to npub1t6n2...uqdw
Exactly. Here’s a scenario: I’m a brand new ecash user. I download wallet called Joe’s Ecash-O-Rama. It’s really slick and has good UX. I proceed to use it for a few weeks, get a bunch of zaps, onboard some friends and family members onto it. Then one day Joe disappears, his node goes offline, the wallet is unreachable, and everyone’s sats are gone. Now, not only do I feel scammed, but so does everyone I convinced to use it.
↩ replying to The Daniel 🖖
This is how retarded cashu is. Joe doesn’t have to run a node to run a mint. Cashu is not dependent on Bitcoin in any way. Lightning addresses are the only optional field to add Bitcoin support in any way to a mint. That lightning address can be a custodial or non-custodial. That means someone could run a mint with a wallet of satoshi address. Which means the mint operator themselves can be rugged by the custodial wallet provider they used as a funding source for their mint.
↩ replying to :P
Lol Y’all are so worried about getting rugged your missing the whole point I’ve been using ecash for a long time and never lost a single sat But even if I did get rugged it wouldn’t be enough to even make me upset My life savings is onchain And I have lightning channels also But there are very good use case for ecash y’all are ignorantly missing Sometimes lightning doesn’t work, It’s hard onboarding new users to lightning because it comes at a cost to open a channel. Not everyone will run a node, Most probably never will lol If the government shuts down the internet Or there is a power outage Or if you just want private small transactions It’s wayyyy better for a normie to use than something like primal kyc wallet Or strike to cash app It gets people away from that kyc trash But it’s retarded Ok ✅
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↩ replying to The Daniel 🖖
Which mint to trust is the same as “trusting” which Bitcoin hot wallet or hardware to use—assuming you’re a regular pleb who isn’t versed enough to verify open-source code or hardware. It’s a mix of rating, recommendations, and trust built on proof of work. I really like Minibits and Coinos Mint, and that’s what I recommend. Calle has this project where it would use donation sats to move money between mints to constantly probe their liquidity.
↩ replying to The Daniel 🖖
I think people are using in the wrong way these public cashu mints. A good example of using cashu mint is @npub1huyn...s34t. They created a local community mint and promote it around their merchants and users. That add a good trust level and communication between users. I think this is the main utility for a cashu mint. If you do not have a local community mint, and you have to use a random public one, then better use these lists and choose wisely: -
Mint Auditor
 -
Bitcoin Mints
 Use them with small amounts and do not keep everything in just one mint. I hope soon we will have multi-mint spending so will be easier to manage multiple mints. Don't abuse these mints! I've seen people using them as coinjoin services... that's wrong. Moving around large amounts of sats through mints you are disrupting their liquidity with unnecessary transactions. Behind every mint is a LN node. Not all have a good management of liquidity and you will encounter problems, stuck funds, lost keys etc. People must understand how mint tokens works, are not just some papers where it says "IOU x sats"... are more than that and are many technical details that cashu devs didn't explained to the end user so well. So do your own research and read how these cashu tokens works.
↩ replying to npub1lxkt...5xlc
With regard to using a random public mint, personally, I wouldn't even bother with multiple mints. The "small amounts" rule is sufficient mitigation in my book. I recently learned that mints will effectively invalidate tokens that have been dormant for a while, by design, in order to clear out tokens that are presumed abandoned and keep their database of outstanding tokens manageable (or maybe other reasons as well? 🤷‍♂️) What constitutes "dormant for a while" may be years, or it may be weeks, or it may be whatever. Presumedly, that policy is up to each individual mint. For this reason, I think trying to manage "small amounts" of tokens across multiple mints is bound to be more trouble than it's worth.
↩ replying to calle
False, Dan is a real one. He’s tests a ton of new wallets and software. Helps run and support or of the largest group of node operators I’ve found, for free. He’s told you where he actually lost Cashu nuts and yet all you can do is still call him a troll wtf? All I can say is if you’re new here, remember: If you Don’t understand and can’t verify. Don’t trust. Keep asking for help. There’s people out there like Dan that can help. Instead of calling you a troll.
↩ replying to npub1ht4c...qeku
"Use it for small amounts only" - agreed. this is the key "You wouldn’t walk around with thousands of dollars in your wallet because you could get robbed' - This is *mostly* a true statement; but it's a terrible analogy (which many people use)... unless the threat model is that you're worried about the dollars in your wallet becoming non-transferable regardless of your own actions.
↩ replying to calle
no calle. i met him on a sidewalk in nyc and we chatted and he was a good communicator and educator and it was clear as day to me at the time that he cared deeply and was earnestly enthused. as far as im concerned: if he is not an asset no one is. a lot of time, dedication, and hard work.
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↩ replying to Chuck Langstrumpf
This is a new perspective. I’ve never heard anyone say lightning “sucks ass”. Could you explain your reasoning as to why you’ve come to this conclusion regarding lightning please? What is a better solution than lightning? I personally believe ecash via the Fedimint protocol is an excellent choice. There are tradeoffs to everything. But to say lightning “sucks ass” I’d say is a bit obtuse in your criticism. Lightning may be no good for the implementation you’re looking for…that’s logical. But to say it “sucks ass” (overall) is a narrow viewpoint.