Thread

It's called free banking.

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.

Yes, I’ve contributed some sats to that project.

I think people are using in the wrong way these public cashu mints. A good example of using cashu mint is @Cuba ₿itcoin. 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.

If you don’t know if you can trust the mint, you can’t trust the mint. That’s the point. 2 options. 1) Find one you can trust with people you know. 2) start one (then it’s self custody bonus) and share with people you trust.

Are mints like federations for fedi?

he’s a concern troll View quoted note →

most cashu users dont have their own community's mint

And that is a wrong approach. I strongly encourage all knowledgeable bitcoiners to start building these local communities, being a local "LN bank" and "local cashu mint". I wrote some guides about these aspects: 1.

DarthCoin Guides

Private banks over The Lightning Network

How to manage a Bitcoin LN routing node for a more private use as an “Uncle Jim” Bank for yourself, for your friends and family

2.

DarthCoin Guides

Bitcoin adoption using ecash

A use case scenario for Ecash over Bitcoin LN, using Cashu mints. How can we bring more Bitcoin adoption to people that can’t afford to start wit...

Take the example of the @npub1kj4r...65u0 brazilian community https://www.lnvoltz.xyz/en/brln-academy BE THE CHANGE IF YOU WANT TO SEE THE CHANGE IN THIS FUCKED UP WORLD

Who, me? The guy who crash tests every wallet I can get my hands on with real sats (and sometimes loses them) so I can help other people not lose theirs? Sorry for looking out for new users, but that’s not gonna stop. People ask me questions and I try to find answers.

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.

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.

i don't know what has gotten into calle lately. also the note he quoted of yours is such a non-troll note... you gave a positive review of three mints 😆

guy has been commenting for ages, always the same questions that have been answered many times.

That’s what happens when you always get the same answer and it’s not sufficient.

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.

I can only give my honest account. People who come to our meetups have practical questions about literally every topic you can imagine, and I try to find answers for them. It’s part of the learning process.

Integrity is everything. Don't trust, verify.

Making it about me doesn’t fix the inherent problems. I’m sure you’d much rather face these questions now when Cashu sill has a tiny user base rather than waiting until there a billion users trying to onboard. And I don’t believe I’ve heard anything about how mint capacity (not to mention trust) scales to meet that level of use.

But that’s the problem with cashu you have to trust it and you can’t verify it

yes, it's custodial

Make mints available to be audited, force them to show proof of reserves or something at least…

we’re open to contributions

i have no idea what we are talking about so i am recusing myself, only hopped on re: daniel, will say using the word "force" in any context is pretty not great tho

Thanks @nobody, appreciate the kind words! 🥰

Force may have been the wrong terminology to use… "giving the mint the opportunity to prove reserves" would have been the better wording.

cool! i gotcha now thank you

Not a problem you’re welcome

I’m here to change that Share my project with others and help me make it possible cashu4community.xyz

Dont tell people what to do just because Lightning sucks ass.

fuck off bcasher

Dont have to be a bcasher to realize how much lightning sucks. Been 3 times to el salvador and saw the disaster. Everyone uses trusted third parties. Wake up you moron.

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.

What disaster happened in El Salvador regarding lightning?

have you ever used it with a self custodial wallet?

Everybody uses custodial wallets, that means - not your keys, not your coins - you use a trusted third party which holds your coins and sees all your transactions. This is not Bitcoin, this is a credit card. All advantages of BTC are gone.

🔥🔥...🤝🔥🔥🔥❗️ AMEN 😌

🔥🔥🔥❗️✅️ I don't trust a crypto bank => same problems, and also maybe in the (near) future higher risk🫥, than a traditional bank😓