Fedimint and Cashu?
Discussion
I'm confused on how Cashu is self-custodial, if linked to dollars. Can you explain?
Also the purpose of cryptocurrency is I'm saying reject fiat
2 things on cashu. It is self custodial sort of and sort of not, but you have to trust the issuing mint operator to be honest.
It isn't linked to dollars. Sats and LN are the native currency for 'exchanging' for cashu tokens. Send sats, get tokens.
Ok well if you trust the operator, we're back to a weaker form of banking
How is it weaker? Operators are enabling users to make private transactions while they grow their balance. Users might actually withdraw from the mint when it's economically beneficial for them.
Sorry I meant weaker than Bitcoin self-custody. Not weaker than fiat banking. It's the same concept
Cashu is completely custodial. Improper framing is going to setup people for failure. The tokens can be backed up but the mint hopefully has your sats.
It's not self-custodial. Calle the creator of Cashu has even urged users to stop saying this many many times. Custodians hold your Bitcoin and give you an IOU.