Nostr Web Client

>What they mean is that if you lose your ecash, it cannot be recovered. This ecash is the unique proof, and there is no account that can restore it.

I understand this but how does that change anything/why does that matter? Your Bitcoin isn't under your control anymore whether you traded it for ecash or some other shitcoin token.

Keychat 1y ago 💬 1

Good question. Keychat uses ecash sats as stamps for messages. Users do not lose privacy due to payments, and relay servers no longer need to rely on advertising models to make money.

Onchain sats and LN sats cannot achieve this, making it the most suitable application scenario for ecash sats.

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Discussion

Saberhagen The Nameless 1y ago 💬 1

Sounds cool, but your answer has little to do with the original topic: Why is it relevant to bring attention to the fact that the IOU (ecash) is self-custodial when the underlying asset itself (Bitcoin) is held by custodians?

Keychat 1y ago

This statement should be more accurate and avoid misunderstanding: ecash is custodial and a bearer asset.