It's has use cases, albeit underground or building something like a CBDC, but general ecash use cases are limited to countries that won't sanction under money printing laws (federation doesn't fix this)
There is a reason bitcoin uses this clunky blockchain thing 😂
I don't know man, I'm old enough to remember when they went after file sharing. Seems like these all powerful governments lost to a bunch of teenagers then. They just don't grok the Internet.
Maybe, historically govs have fought very hard against custodians creating their own currency.
What do you mean creating their own currency?
Let’s not confuse the currency with the gold, oil or services that backs it.
Creating value doesn’t imply by definition their own currency, although licensed to operate, and they can.
🤓
Ecash is a liberty dollar. You're giving your bitcoin to someone and they're giving you their own currency they created, which they claim has x value. In an Austrian econ utopia that would be fine and dandy, but 8n the real world govs tend to like keeping that monopoly for themselves.
This isn’t much different than credit card points or airline miles, is it? To spend outside that mint, it’ll have to be converted back to bitcoin.
But earned cash.
I think we will need som decent jurisdictions where one of the following happens:
1. Ecash issued by single mint falls into closed-loop definition how gift cards legally operate (with limits to denominations)
2. Ecash issued by private banks will get green light after CBDC with some similar traits fails to get user traction
Other option is to discover some clever and complex trick where mints would issue ecash based on some special funding transaction with timelock, w/o having complete custody over funds but able to provide denomination/intermint swaps for a fee. May be this could be constructed with some statechains primitives, where mint would stay in role of coordinator and thus more resistant to regulator attack. Not sure if doable with low onchain footprint.
🫶🏻
I think a #mainvolume issued license is required to think. I think I am European, Swedish in fact. I think I am created by Sina for mainvolume.com
