You can now Zap with Cashu! 🚀
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Do you have any good resources on cashu? Based on the website it feels too good to be true but I’m sure there’s some tech I haven’t read up on yet.
I’d love to understand the trade offs.
The primary trade-off is that mints are custodial by nature. If replacing a custodial service like a custodial lightning wallet then the benefits are huge!
This could be a good resource
@calle is the man to follow.
Cashu.space
Cashu is a free and open-source Chaumian ecash system built for Bitcoin.
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Helpful. I’ll read right now the thing that’s escaped me so far is who the custodian is
Whoever is running the mint. My basic understanding is that the mint is effectively running a custodial lightning node with a cashu mint on top. The bitcoin funds sit in a lightning wallet and cashu tokens are generated and regenerated as they are used or redeemed. If a token is redeemed at a second mint, the second mint effectively requests a lightning payment from the first to redeem the tokens.
It’s like a lightning wallet that functions as a bank issuing redeemable, private IOUs
Gotcha. Makes sense. Almost an L3 where banks or bank like entities could issue private ecash the way Hal Finney talked about things working eventually.
Yes! One good example I’ve heard is that wallet of Satoshi could run a mint and it would be the same experience, but better privacy for the users.
So fucken private it’s laughable
I wouldn't call any zap private... In the end, all zaps are public receipts of payment anyone can see.
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Cool!
Incredible! This is nuts!
great work. how did you do that? my wallet is default WoS for #nostr ?
wow!
cashu is not bitcoin. It just uses bitcoin as a starting point. zapping with cashu and using it as money will reduce the frequency and circulation of buying and selling using bitcoin - it may not be visible now but but when there are many "add fancy privacy related name" token coming in, or high usage of tokens, it will drastically impact circulation of bitcoin and its chances of becoming global currency. This is exactly how altcoin comes into bitcoin. This is not a good thing.