gm did Seth post another 6 feet long note on why he doesn't care about ecash 🤣
Discussion
Pretty much. All I see is fear.
Step aside, boys.
Blue check Seth for privacy
He posted from his American view of the world how ecash is unsuitable for scaling a global network like Bitcoin.
Isn’t the problem of trusting a single mint mitigated by utilizing many, many mints with small balances?
Hypothetically it reduces the variance in the amount you get rugged yourself. If you assume some distribution of mints that will eventually rug you, say 10%, and you use 10 mints on average one will rug you and if you distributed your sats evenly you loose 10% of what you held in mints. If you had all for sats in a single mint you would have a 10% chance of losing it all, but a 90% chance of keeping it all. The expected value is the same. But one strategy has less variance. And humans are usually risk averse so you like reduced variance. But the expected loss would still converge to the percentage of mints that will rug you either way.
Posted a response to this from primal that doesn't show up in other clients... Hmmm