cashu are ious for sats that get issued by a lightning node called a mint
i redeem my ious and the mint pays an ln invoice that shows up as sats in your primal wallet
mints are nodes that pay invoices and issue tokens
lightning network is the bridge between mints
cashu tokens in a mint can be shared without making a lightning payment
Can mints cash out other mints’ cashu tokens into lightning, or are they just paying out lightning and taking on the redemption risk of the token, or ?
mints issue and redeem their own cashu tokens
mints settle between eachother via lightning
ln sats -> ln -> mint -> cashu token
cashu a -> mint a -> ln -> mint b -> cashu b
This is a good simplified explanation. In my honest humble opinion, it’s still too cumbersome. For the average person, why would they want to deal with an IOU? Recall, they say the main benefit of using Cashu is privacy. All these steps don’t seem worth it. There has to be an easier simplified way. Do people have to run their own node for this? Well good luck with that. The majority of the world don’t even use Bitcoin. People still need to learn about that. Now throw in Cashu. Who is using it like that? For the record, I’m not saying it can’t work in the future. Perhaps it’s ahead of its time. It’s just that Bitcoin doesn’t even have universal adoption. Now people and governments want to use Bitcoin for other things such as ETFs, strategic reserves, capital markets, investments, banks involvement, and other rubbish. 🙄 How does Cashu scale considering Bitcoin is the segue?
It is quite simple once you take a moment to understand the work flow, use a wallet and understand the terms. It is essentially automated with good ux.
You don't have to run a node
You get better privacy than with a normal custodian
Cashu + nostr can educate and make more people use Bitcoin daily with low to no fees and no need to have hardware or knowledge
I was introduced to cashu in real time. I tested the first cashu zaps from minibits on nostr so I have an excellent history of using it and seeing the utility
Many who are lightning node runners don't see much value as they are confident with lightning liquidity. Lightning has a chicken and egg problem for new users.
Cashu can allow anyone in the world an immediate way to get sats
Sounds great. Well someone needs to drop a bomb commercial showing how it works and make it convincing. Marketing is valuable. I want to see a 60 second commercial of what you wrote that’s convincing enough to use.
