Nostr

Replying to

average_bitcoiner

1. Fedimint is not USD denominated. It’s on a sat standard.

2. It is not issued by the govt, although the govt is welcome to run FOSS code if they choose.

3. Anyone can run FOSS so it is available to public use

4. It’s based on bitcoin with 1:1 reserves. And requires LN nodes to interop with other projects on bitcoin.

5. Yes. It does this.

Justin (shocknet) 2y ago

The stack can use any backing currency, you can spin up ECash from literally nothing.

Banks are a proxy for government.

Reserves as still trusted and political, there's no cryptographic certainty.

Offers are not reverse compatible, there's also no meaningful privacy enhancement with banking scale mints.

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Discussion

average_bitcoiner 2y ago

1. Sure. This what crypto has been doing. Is crypto a CIA op too?

2. Agreed!

3. Correct again! https://gist.github.com/callebtc/ed5228d1d8cbaade0104db5d1cf63939

I assume nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg is an asset of the banks too for creating Cashu?

4. I know nothing of Bolt12 or Offers so can’t comment.

average_bitcoiner 2y ago

Fwiw. Crypto totally could be a CIA/bank op to suppress bitcoin (as seen by FTX)

Justin (shocknet) 2y ago

Crypto? Probably, sprinkle in Mossad, UFW, GCHQ, etc. (Fwiw tho I also think Bitcoin is an NSA white hat op)

Calle took HRF spook money so might just be a useful idiot.

The ECash libs already existed, not sure to what extent they've been improved. Cashu though does plenty of affinity scamming as a Bitcoin project, tsk tsk.