“The main benefits are lost if a trusted third party is still required”
— Satoshi Nakamoto, Bitcoin Whitepaper
Discussion
No to eCash, then?
Ecash is for spending.
The exchange is for exchanging, not for saving.
A trusted third party is still required.
No shit
The amount of value that's at risk is minuscule.
Use ecash, but don't store your wealth in it.
Is a store of value the main benefit this Satoshi Nakamoto person is referring to, then?
eCash is custodial. Predicated on a trusted third party. Just trying to understand, and am early in my rabbit hole learnings of eCash. Seems like a principled position, not one based on the size of the value.
E cash is amazing
I’ll do doing a show on it
Episode 11 coming soon
Let’s go down the rabbit hole together
With npub.cash
Cashu.me
NWC
ECash on Zeus 👀💟
Lightning ⚡️
Etc
Great! Here’s some questions that would help me understand it a bit more:
-Is it more reliable to use than a noncustodial lightning wallet? As in higher uptime (or node uptime doesn’t matter?), faster to transact (as in less dependent on node or channel hardware), etc.
-If you were to allocate ratios of a holding between on chain, noncustodial lightning, and eCash, what would those ratios to each be?
-How’s it different than a stable coin?
-Can eCash conceivably be converted at POS to a local currency… so it can actually solve the use problem ₿ has?
-Who are running the current mints, how are the eCash structured/pegged to ₿ today?
-How can eCash be structured in the future?
-What are today’s use cases?
-Is it a layer 3 or a layer 2?
-Can eCash be noncustodial by running your own mint?
-What’s the difference between the different wallets?
-WTF is Cashu?
-Why use eCash on Nostr instead of a lightning wallet?
-Why introduce trust back into Bitcoin?
-How can it be used without internet connections while still being custodial?
-Any books on eCash?
Hopefully most good lighting wallets will integrate ecash
Zeus already has
Lot of good questions in there #asknostr
Humans are doomed, keep messing up anything good...
This!!
And for the future: highly competitive or community ecash mints are the only third party you should be relying on, and that's if you don't have enough long term savings to justify a whole UTXO!! Don't trust a banker, verify you can punch him in the face if he steals from you!!
#ecash #fedimint #donttrustverify #bitcoin