Replying to Avatar Nice and Kind Vic

One of my favourite parts about cashu mints is that they are not backed by lightning or bitcoin, and in fact don't need to integrate with such.

This makes them very flexible for being integrated with other assets/tokens like monero, dollars, pesos, cbdc, pogs, pokemon cards, smiley face stickers and more.
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Taoist Bitcoiner 1y ago

I've been thinking that we should work with the Bitcoin Beef Initiatives to create Noste Identies for each cow, combining a GPS tracker and live tracking to enable "herd audits" to back a Cattle-mint that can be redeemed for meat or LN sats. Seems like a great form of commodity reserve based on proof of work empowering the Ranchers with a means of hedging and raising capital for reinvestment into maintaining and upgrading the ranch.

With a LN routing node and Nostr relay, these ranchers could evolve into semi-trusted localized food banks performing Uncle Jim and custodial solutions built on the "branded reputation".

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Nice and Kind Vic 1y ago

seems like a lot of unnecessary steps?

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Taoist Bitcoiner 1y ago

Cattlemen Bank & Trusts have a long history of providing these services to local communities. Commodity futures markets help the Ranchers manage risks of time, but they've been co-opted by fiat speculators and manipulated by the money printers. Creating a "Circular Satoshis Economy" within the Ranchers' control will be a big upgrade and a means for their supporters to create a "Proof of Steak" system many Bitcoiners could support. 😀

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Nice and Kind Vic 1y ago

I guess im not sure what problem is addressed by a mint that still would need recordskeeping