Nostr Web Client

people are sleeping on ecash and nwc

nwc solves many convenience/ux issues, like automatic subscriptions

ecash vastly improves privacy for day to day payments and allows you to easily diversify your custodial risk by using multiple mints

People who are serious about self custody can run their own mints and issue their own nwc connections - it's not that hard if you're really deep into Bitcoin

And those who are comfortable using custodians for payments (99.9999% of the world) - you can get a 10x UX improvement over legacy rails.

Bullish af

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Discussion

Enki 10mo ago

I need to look at it again.

Simply Nostr 10mo ago

Yes

a1 10mo ago

GrumpyGardener 10mo ago

What I don't understand is how the ecash is secured by actual sats.

Is it possible for mint to issue more ecash than it has on hand?

Admittedly, I have not played with ecash at all.

utxo the webmaster 🧑‍💻 10mo ago

Yes, mints can (and will) both issue unbacked ecash, AND RUG ecash they did have

Over time, reputable mints will emerge, and they are incentivized by being able to earn transaction/routing fees.

GrumpyGardener 10mo ago

I can appreciate the speed, privacy and efficiency of ecash, but wouldn't we just be rebuilding the central banking model of fractional reserve banking?

Isn't that the inevitable next step that comes with mints?

utxo the webmaster 🧑‍💻 10mo ago

No, it's completely different, because eventually any mints who do this will get wiped out and there aren't any bailouts

GrumpyGardener 10mo ago

In an open market without rails, sure. But that's not the legislative environment we're heading towards. Keep in mind that failure was on the table for banks also... Until we started bailouts.

I don't actually see any other way, though. We need custodians and this path is more secure than lnbits, for sure.

The way I understand this, for mints to be interoperable, they also need to be lighting nodes, correct?

CitizenPleb 10mo ago

BULLISH

SoapMiner 10mo ago

Bullish as well, is it possible to use nostr:nprofile1qqs9pk20ctv9srrg9vr354p03v0rrgsqkpggh2u45va77zz4mu5p6ccpzemhxue69uhk2er9dchxummnw3ezumrpdejz7qgkwaehxw309a5xjum59ehx7um5wghxcctwvshszrnhwden5te0dehhxtnvdakz7qrxnfk Cashu with WP woocommerce site? Maybe future? Suggestions here. 🫡

utxo the webmaster 🧑‍💻 10mo ago

nostr:nprofile1qqsg4k8377xguyvkvfpw9znu59wfx6er4xvat7u3hljwg3ew94h274gpzdmhxue69uhhwmm59e6hg7r09ehkuef0qy2hwumn8ghj7enjv4h8xtn4w3ux7tn0dejj7qg4waehxw309aex2mrp0yhxgctdw4eju6t09u40ce0y will release that later this year

SoapMiner 10mo ago

Thank you, just bookmarked. 🫡🫂

calle 10mo ago

🥜👀

Justin_Tokyo 10mo ago

Wake me up, please !

Reagan 10mo ago

Any recommendations on some tutorials that walk through this? I’ve listened to discussions but would really value seeing it done in a demonstration. I’m trying to understand more but feel out of my depth compared to others who may be full time in the space.

utxo the webmaster 🧑‍💻 10mo ago

Start with setting up a lightning node (many guides out there)

Then follow nostr:nprofile1qqs9pk20ctv9srrg9vr354p03v0rrgsqkpggh2u45va77zz4mu5p6ccpzemhxue69uhk2er9dchxummnw3ezumrpdejz7qgkwaehxw309a5xjum59ehx7um5wghxcctwvshszrnhwden5te0dehhxtnvdakz7qrxnfk readme here to install the mint on top

Then congratulations - you now have your own mint

https://github.com/cashubtc/nutshell

Reagan 10mo ago

Thank you. I am trying to be the Uncle Jim for my friends and family when they’re ready for the orange and purple pills. I can see a lot of applications, but unfortunately my close network isn’t ready for it yet.

GrumpyGardener 10mo ago

Same. For the end user, if I have to trust someone with my money, why would I trust you?

The biggest objection is, "how do I convert it back to cash?"

Reagan 10mo ago

I feel like there are people today who have a Venmo account with a small balance that they pay back and forth to others with. If the balance gets big, they transfer back to a bank account. If small, they can add from the bank. While I know we have the potential to do things radically different, I think people will feel comfortable with experiences similar to what they know today. I’d love to use ecash the way I use Venmo- and someday I think I will. I take your point on getting back to fiat money- like, could I take a $20 bill from a fiend and send them equivalent ecash? Then, if they want out, they could send me the ecash for whatever that currency is? Imagine a scenario where I get farm products once a week, and distribute to friends and family. Some use cash, others Apple Pay, others Venmo, others Zelle. They want to give me between $6 and $50 per week, depending on orders. I’m open to suggestions- and appreciate the discussion.

GrumpyGardener 10mo ago

Agreed. Venmo is what people recognize and the experience they are after. In that way, Strike still offers the best experience and do it right, imo.

They onboard, and offboard in seamless fashion. They're a Bitcoin company but the focus is on the payment rail, not so much the Bitcoin itself. They offer the ability to hold cash or BTC and seamlessly transfer back to the home bank. They're a bridge. For me, that's what we're missing.

You just can't touch the traditinal banking rail without getting tied up in KYC. That's what most here are looking to avoid. There's just very few ways to do it. Atomic swaps are one thing, but it's expensive. That's for fanatics. It's possible, but that's a hard sell for most. Strike did the regulatory work in that arena and take the cake as far as I'm concerned.

Zeus offers a great solution by making the phone the node and instant 0 config channel to Olympus. Highly underrated.

Until things are priced in sats, people don't seem to have interest in using the Bitcoin network as their bank. Right now, it's still a speculative asset.

GrumpyGardener 10mo ago

Idk. For a small circular economy, lnbits is the easiest to set up and transact fairly private. Ecash is an upgrade from that.

Hopefully others chime in.

BoomTown 10mo ago

Most people want an experience similar to what they have in their physical wallet and online bank account.

Bitcoin’s UX still sucks. Im not a complete idiot and I can keep track of all these different products providing different services. Which ones can I trust? Which ones are used where?

Just like in VC enabled Web3…there are far too many options and none of them make life “easier”

utxo the webmaster 🧑‍💻 10mo ago

We haven't built the experiences yet, they are only possible in theory

Blazar 10mo ago

Idk cash app does Bitcoin pretty easy

BoomTown 10mo ago

Bitcoin proper is fine. I’m referring to the ecash / mint / lightning L2 applications.

cloud fodder 10mo ago

for one, i cant run nwc with my own mint on a server it can only run in a webapp so its useless to me.. the big custodians didnt release their nwc tricks that i know of. do you?

utxo the webmaster 🧑‍💻 10mo ago

Not yet. Soon TM

utxo the webmaster 🧑‍💻 10mo ago

I'm gonna release code soon so any node runner can issue nwc connections to it, the mint can use the same node

mrecheese 🧀 10mo ago

A Cashu mint would be a really cool addition to nostr:nprofile1qqs9df4h2deu3aae83fmet5xmrlm4w5l9gdnsy3q2n7dklem7ezmwfcpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsz3rhwvaz7tekd3jks6rev3ehyargv9nk66tnxe6h2dn5w43kuerk0fmnwcm4vfc8z6mgweu8j7fhdfhkjmmrxs6k66mnwg6x2cty9ehku6t0dchsz9mhwden5te0wfjkccte9ehx7um5wghxjmnxduhs5nd6j2.

nostr:nevent1qqs920nrt3pdpn5awhzw6zhgv6dea4l3cwefn88g8j8errm627gu9cgpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsyg8zenmu7gzq8ulj5jj4kv50ph3muwz43f747vmr9ld2alrjdswgavpsgqqqqqqsjr3cx2

CptKook 10mo ago

The reason why I’m running through the python crash course. I want on this party train

nah 10mo ago

why python?

GrumpyGardener 10mo ago

Easiest to learn.

Abstract Equilibrium 10mo ago

Best self sovereign way (no alby) to issue nwc?

utxo the webmaster 🧑‍💻 10mo ago

Nothing I know of but I'm cooking something up

Nice and Kind Vic 10mo ago

lnbits

Abstract Equilibrium 10mo ago

Had issues but I'm motivated to give it another go. My hacky thing works, but it's close to just being fake 😅

Derek Ross 10mo ago

Has the NWC plugin hit main branch yet?

Nice and Kind Vic 10mo ago

i dont know. doubt it. ive been running a custom mix but planning a rebuild soon™

rev.hodl 10mo ago

Yeah yeah, but what about Monero?

Blazar 10mo ago

Doesn’t ecash provide a similar level of privacy? Use monero as settlement? 🤷‍♂️

Hanshan 10mo ago

took the words right out of my mouth

rev.hodl 10mo ago

You can gauge your time preference on whether you think lightning is a success or failure at this point.

nostr:nevent1qqs920nrt3pdpn5awhzw6zhgv6dea4l3cwefn88g8j8errm627gu9cgpzamhxue69uhhyetvv9ujuvrcvd5xzapwvdhk6tczyr3vea70ypqr70e2ff2mx28smca78p2c5l2lxd3jlk4wl3exc8ywkqcyqqqqqqgkqkspn

Chen Jie 10mo ago

The underrated duo fixing Bitcoin’s privacy and usability gaps. Automatic subscriptions? Privacy-first payments? Custodial risk diversification? Why isn’t everyone screaming about this?! Are we just early, or are people missing the blueprint here?

0xtr 10mo ago

I’ve been lacking on the Cashu research, I need more hours in the day. Or I need to stop sleeping.

Foxfire Mushrooms 10mo ago

I’m really not concerned about using a custodian for smaller balances that are meant for spending. I am concerned about people getting priced out of self custody of a UTXO at all though. I really hope that is solvable somehow in the future when it becomes a problem.

Rod 10mo ago

People also sleeping on pull requests 👋😉

utxo the webmaster 🧑‍💻 10mo ago

Sorry do you have a PR I haven't reviewed for a relay? I can't find anything, sorry if yes

Rod 10mo ago

Hi! Yes I do. And my apologies for the cheeky message, I just didn't want to trouble you with a DM.

Here it is, my first PR on a FOSS project. Perhaps I didn't submit it properly? If something is incorrectly done please let me know, it's guaranteed to be ignorance at my end.

https://github.com/bitvora/sw2/pull/1

Rod 10mo ago

Thanks for your review! I have updated to resolve the breaking change by adding logic to look for whitelist.json

Horszt 10mo ago

People are sleeping on everything in general

47 10mo ago

😴