Ecash technical frens I was just told by a Monero enjoyer that ECash mints can print as many “tokens” as they want thus breaking Bitcoin’s fixed supply.
It seems that if this were true ECash would be a money printer and wouldn’t be viable as solution at all. GM and what’s the deal here? nostr:npub1utx00neqgqln72j22kej3ux7803c2k986henvvha4thuwfkper4s7r50e8
It doesn't break bitcoin in anyway but it can break an individual mint, it is true you can have a malicious mint that issues more tokens than they have sats
And just like the ftxs and other custodians before them, the free market will sniff them out, they will collapse, and some people will get rekt
doesn't break bitcoins fixed supply. mints a centralized 3rd parties that hold all user deposited funds (btc).
can they print as many ecash tokens as they want?
yes.
the issue is when users attempt to pull funds out, the quantity ecash != the quantity bitcoin. the mints credibility will be destroyed, and user funds essentially rugged/stolen, and likely will have a run on the mint with users all trying to transfer out.
the fix supply is never effected, but mints can theoretically use fractional reserve practices and lie to their users.
Yes and the only way they can do this on a large scale is if they coordinate with all banks in the region, which all get the trust of the populace. This can happen in a government, but even then people can take their tokens out onchain if they suspect foul play, so long as the government wishes to maintain the illusion of transparency. These people can then flee the country or set up a thriving parallel market.
For this to happen between governments would require a federal government (cartel) to coordinate (like the EU). The larger it gets, the harder it is to stop crucial economic actors from exiting the system. This outflow will eventually give way to a collapse of the local ecash economy and increased popular interest in real BTC or alternative ecash issuers outside of the regime. Like how Argentina had a thriving black market for dollars when the official exchange rate was distorted.
Ecash mints CAN covertly print as many tokens as they want. You don't know that? That's an inarguable fact. Ask any ecash dev. It has no connection with Bitcoins supply so can't break Bitcoins supply. I don't know who told you that (I sure didn't)
Ecash is a shitcoin (a useful one). It has all the properties of one. Yall just perform insane mental gymnastics to pretend it isn't one because it's the one shitcoin Bitcoin maxis like and you can't admit that. It's okay to find Ecash useful bro. No need to pretend it is something that its not.
