Excellent for free banking.

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lol, holy bitcoin

no, actually, the mint can just turn off the server and the owner has full control of the onchain and lightning wallets behind it, and can go off and do whatever they like with it

just like robber barons.

That's the same thing as frickin' normal ass free banking with gold.

The cashu token is not so much bitcoin as it is a bitcoin substitute. A warehouse receipt for real bitcoin with a company that promises to redeem it on demand.