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Replying to Avatar M0053

Oh, I never said it wasn't amazing. I think the concept of chaumian mints is excellent. And there's all kinds of use cases for it. I just don't think we're done looking at it carefully yet. It fundamentally changes UX/UI. Since it requires absolute trust in a single authority, (Fediments notwithstanding) I think it could be most useful when issued by banks of some kind or another. But even just that turns the entire Bitcoin ethos on its head. This doesn't mean that cashu is not a useful technology and that that exact use case would not serve lots and lots of people. Bitcoin is hard to use. This - under the right circumstances - could be easy to use.

@jb55 Made an airplane example a while back that gives a great idea of just ONE detail in a new attack surface...

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Tim Bouma 6mo ago

If you build a solution that enables multiple mints and relays to be invisibly plugged in the backend, then the ‘single authority issue’ is not a big deal.

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M0053 6mo ago

But doesn't each cashu token have a single issuer? If so, I could see how this could spread your risk around, but still whatever you hold from x mint is that mint, right?

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Tim Bouma 6mo ago

It’s like private banking before the central banks. Very stable and successful in Canada until we decided to copycat the US.

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