Welcome to ecash zaps: we throw random checks at you from no-name banks and consider a photo of them as “proof of zap”
Also your money is on the nostr! (wait… it’s on a custodian… what benefit does this have again over nostr login to a custodian) nostr:note1rp9n3pzrsawk2t6kqr8rhkrh527m93y7aph0aqah9ghtw9hgat9qgv6tcx
It depends what you are willing to accept as money.
If you want private money, ecash is it and it has some great properties for payment.
If you want sound money, ecash ain't it, but it is redeemable for sound money so you can always have both and interchange and without worrying about conversion rates or anything like that.
So you “redeem” your custodial ecash to custodial lightning and redeem that to Bitcoin? That sucks lol
This is how nation states will screw their citizens in 50 years. For now, we're still on the Bitcoin standard, but I'm convinced the commies have already invaded this space to get back to money printing.
Central banking is central to communism. It's a devilish design, but the need it, or everything else falls apart.
Inflation goes hand in hand with all kinds of degeneracy. And inflation requires fiat (custodians).
Anyone in favor of the original bitcoin vision should be pushing for drivechains or something like it
Whatever it is, it needs tie back to layer 1 so that things can be confirmed without trust. The idea of mints reaks of central banking and going right back to shitcoinery.
Literally going right back to the same issues we had with gold but with digital layers. So dumb. We're losing the forest for the trees.
You can redeem it straight to lightning.
What is in Nostr is an ecash locked to your pubkey. Usually you redeem it for a new and unique unlocked token and store it locally (hopefully encrypted) so that you can hand it to someone else in the future.
But you don't need to trade ecash for ecash, you can just submit a lightning invoice paired with your ecash and the mint will pay the invoice.
You can think of ecash as a partial request packet that needs to eventually make its way to a mint if you like, only when you redeem it for something, be it a new never before seen ecash or a lightning payment, you can assume you haven't been paid yet.
It's more private and spreads custodial risk
The risk of losing 73 sats
