Also ecash mints should start preparing for micro sat denominations (1 millionth of a sat) because a milli-sat isn’t small enough. We should use ecash as an alternative to rate limiting and other such use cases.
Discussion
YES
#YESTR
I use Msats right now for my nostr:nprofile1qqsyu43zk46umw6dthksj0jgc6xd8aeylt25w9p0psds4mp09v4qktspz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsz9thwden5te0dehhxarj9ehhsarj9ejx2a30qythwumn8ghj7un9d3shjtnwdaehgu3wvfskuep0tntfql using the otrta mint
By msat do you mean millisat? (1 1000th of a sat).
Yes. Msats currently allow precision of pricing variable costs for efficiency in consumer experience.
1/1000th isn’t small enough for things like rate limiting, especially if bitcoin rises in price
I was thinking about this for a bit. Smaller unit use seems correlative to either fiat denominated price increase or scarcity via proof of work in order to accomplish the task at scale. nanosats/nanosecond the future.
cashu as the auth/api token string is incredible
Sweet yeah we can go to 1 billionth of a sat
🎯
milli already works, do we really need micro?
Yes! AFAIK it’s the best anonymous payment method for rate limiting. Suppose the following:
- 1 Bitcoin is 1M USD, so 1 sat == 1 cent
- a server running a performant Nostr relay costs $100 a month (or 10B micro sats)
- if that relay server can handle 100 requests a second, that’s ~250M requests a month
- if the relay charges 50 micro sats per request, thats 10.25B micro sats per month, which is 10,250 sats, which is $102.50.
We really actually might need nano (billionth of sat) in the future if we get massive deflation from technological progress…