I still have no understanding of Cashu and I’m a hater for it.
I see no benefit whatsoever over LN.
Discussion
Cashu enhances your privacy. When you initiate a transaction with cashu you are simply telling the mint operator to send that payment for you. So no one knows it came from you. There is a trade-off because when you load your wallet with Bitcoin, you get a cashew token that is stored on your phone until you send it. When you initiate the transaction, the mint takes your tokens burns them and the mint operator sends the Bitcoin to wherever you want it to go. And no one knows that it was you that sent it.
This is the simplified explanation.
Tokens can’t be traced at all? À la Monero?
The fact is the BTC tx is traceable. How is the BTC distributed? Sounds like LN with extra steps.
LN but less decentralized
Pretty much pretty much you need to trust the mint. Operator way way more than you need to trust your lightning channel. On Phoenix wallet.
I liked how simple it was on Olas but it was jank asf and I have hundreds of sats sitting in that nutwallet from people zapping me on olas. Couldn’t get it to accept my LN wallet.
So I have a bad taste in my mouth from NUTS.
But if it actually worked, it would be great. Like having the primal LN wallet but on any app without a LN channel with liquidity. But lighting exists the way it does for a reason. I’m sure there are some issues with cashus simplicity.
Bruh doesn't the mint operator know then??? WTF are you talking about?
I guess. 🤷🏽♀️
Brilliant privacy strategy. 🤦🏿♀️
I don't give a fuck if it works or not. I didn't build it. Talk shit to the builder, not me. The guy asked the question and I answered it. I can give 2 shits about cashew. The fuck.
Cashu is privacy improvement for those already using custodial lightning for something in the first place.
If you're using self-custodial Lightning in a private way can't think of much else that would interest you...maybe the ability to send offline payments? Idk
fuck, ln, it has too many drawbacks. and explaining the lighting channels to normies. is it's own circle of hell. (i say this as a person who runs their own node.)
We just need more custodial services tbh. We need whatever is powering Primal and Fountain to scale.
Self custody lighting is extraordinarily difficult. It’s not something a normal person should do. Having to manage a node/channel and make sure it stays open is time consuming. And the things I’ve seen like Breez app are unreliable. Idk about samourai tho I missed it
There is roan dojo as a option.
My problem with mixing is that it relies on 3rd parties still, I'm not trying to look like (Monero only option maxi) but it's honestly the better default option.
The issue is lighting shit the bed and IMO nostr was the last good thing that came from it.
There's some priv issus. but I run my own nostr relay.
I think Nostr is what will complete LN. LN isn’t a full payment solution, it’s back end shit
I can’t get behind Monero. I’m skeptical about tail emissions (and anonymity.. auditing is a major strength of a public blockchain so long as leadership exists (forever)). I prefer a deflationary currency like BTC. But maybe transaction fees in the future would change my mind.
Pseudonymity is sufficient especially if we can reduce the influence of “government” (fascists, commies, tyrants, etc). But again maybe tx fees will make me change my mind. And there isn’t any denying that LN does what it is supposed to. Unlike other even less baked solutions.
This is why I used to like shitcoins like BCH, BTG, and IOTA. I guess it is why anyone liked shitcoins. Bitcoin has scaling problems that we will face. I highly doubt anything else can compete with USD and BTC. Except Monero because you have to use it for cybercrime (and I assume all crime eventually). If law didn’t exist, neither would Monero, or any other obsession with privacy.
What about the tail emissions that makes you skeptical.
You can Audit monero. As long as you have the Private view key ect. There's tons of companies that accept it and probably pay their taxes ect
The issue with BTC is ite too manipulative, I dislike the government involvement and the whales.
I disagree on the illegal part, I think monero is just a tool, like anything. Online I want to be able to purchase things wherever I have no tracking and low fees. Monero Dose this by default, no third party no coinJoin no mixing.
Moneros RinCT and bullet proofs is what makes it a better option. It dose what it says it dose.
If you haven't, watch breaking monero.
Its really good.
Running a monero Node is far more accessible then a BTC node or LN node.
In terms of access. As someone who has ran both.
My issue with pseudo-anonymity is that there is too many mistakes to be made.
Monero isn't perfect. The tail emissions is a concern, I'd have to dig deeper in the issues.
Other issue is scaling and liquidity.
I think could be fixed.
The real benefit is that trading has been rampped up with dex and atomic swaps.
Tail emissions are literally just inflation. A fixed supply is necessary. Inflating the supply to uphold the infrastructure is retarded and it’s the whole problem with fiat.
I like Monero but I won’t switch to it if there is inflation. It’s not the right approach.
You need to rethink inflation.
Here's some resources that can explain it better.
It is its own thing.
https://www.getmonero.org/resources/about/
https://monero.stackexchange.com/questions/23/what-is-the-purpose-of-the-tail-emission
https://youtu.be/sRwSqM0YBto?si=SmlKlxt2wQMZMkk4
https://youtu.be/-Dy4DeVhk_g?si=tZ5Z9K0IxHSOcv1p
Its to secure the network and keep incentives to the miners.it's not like your vision of inflation Is
Mining monero is far more easier and affordable then getting into BTC as well. Being assic resistant.
But maybe as cashu type of things evolve. We will move on from lightning. Nostr enables better solutions
I used a few constodialas btw, but it's still a pain and requires some trust from them as well.