btw, cashu isn't bitcoin
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Thatβs not how itβs marketed though
I agree.
Is cashu to bitcoin like the paper dollars were to gold in the free banking era? Mints are like banks, you can be rugged, they can run fractional reserve, they can shut down run away with the LN bitcoin that you deposited?
Yes
Pretty much, similar to a promissory note
Nice explanation!
Spot on! Keep a little bit of ecash on hand any pay privately π»
Thanks calle!
Yes, but the difference is you can choose other methods like β‘οΈ, or Fedimint, or unchain.
It's choices, made by you, not the Hierarchy
This ist driving me nuts.
Sir, I see what you did there.
Cashu tokens are utility tokens that are redeemable for Bitcoin. They are an IOU or digital cash equivalent secured by a trusted (or federated) mint, which is a key difference from holding the Bitcoin itself in your non-custodial wallet. This introduces an element of custody and trust in the mint operator that is not present in bitcoin nodes.
Bitcoin loves Signal. And that's why we put something that's not bitcoin into Signal.
Bitcoiners should not be loving a messenger that leaks group memberships, requires a GSM locator,, runs on a centralised / black box server, enforces location permission or sms when changing device, uses a persistent identifier, and cannot be self hosted
That said, this fork is cool. And cashu is awesome.
neither is #ln
There is an expression in french for this : "C'est de l'enculage de mouches..." π
eCash is better than Bitcoin for commerce. Nobody wants their spending history easily analyzed by anyone, forever.
Ideally, there would be some type of proof of reserves / security of reserves type of GUI in wallets so users and holders of eCash would have a more intuitive understanding of what eCash is vs. on-chain Bitcoin (i.e. that there's some degree of counterparty trust / risk).
π€―
View quoted note β
Itβs not clear what it is.
who didnt know that yet?
Install @Fedi and Iβll teach you what ecash is. Gotta use it to understand it.
Install Fedi
Copy and paste the link below into the scan tool within Fedi (top right corner)
Enjoy chat, money, and more
https://app.fedi.xyz/link?screen=user&id=@npub1qkcjtq2kkpu57e8pc0v85y5nk6quhh7ww2225zy3d09tl0caahfqqmssuq:m1.8fa.in
#fedi