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↩ replying to Iggy Golo Music ⚡️
It's a bearer asset. A string of characters that the mint agrees to trade for bitcoin. E.g. your cashu wallet asks the mint to make a lighting payment for you, and you give it these cashu tokens to pay for it So basically you swap lighting for cashu, and vice versa The token is essentially an IOU with a serial number, signed by the mint The cool thing of that the mint signs the IOU without seeing the serial number (cool maths going back to 1982), and therefore it's very private. The mint makes the payment, after verifying the signature and checking for double spending with the serial number, but the mint doesn't know who it originally issued that token to Cashu wallets pay and receive lightning like any lightning wallet, but with this extra bit of privacy. It has other advantages too, I'm working on very high frequency micropayments with Cashu (sending a millisat, hundreds of times every second) But the obvious risk if that the mint can steal it. So the balance should be kept small.
✅ Push Damus users towards a custodial wallet without privacy (see their default wallet connect screen below) ✅ Take zero responsibility when those users got rekt because of Damus integration choices ✅ Throw shade at Cashu and the people who actually build useful freedom tech ✅ Lecture other builders about what’s real bitcoin or real nostr Look, Primal has a built-in custodial wallet with KYC lite. We make difficult tradeoffs to legally deliver a product that is usable by newbs. There are no solutions; it’s tradeoffs all the way down. I have no issues with the Damus design choices. Also, running a custodial service is not a simple task, and mistakes can happen. But this endless larping and virtue signalling is insufferable. image View quoted note →
Cashu is a lot more complicated than bitcoin too. Anyone can send bitcoin. It’s very easy and intuitive. I watched an hour long YouTube video about cashu and I’m none the wiser on what it is or how it works.
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So the way I would see it is for Cashu to be a stepping stone for people new to Bitcoin. I feel like there should be a market for people who wants their coins to be custodied and have the ability for offline payments. Cashu is great for spending, but not saving your coins. Use it as a spending protocol and you'll be fine.