Replying to Avatar HoloKat

hear me out... globally available, instant payments for EVERYONE who joins nostr, INSTANTLY. No setup required.

How? Well.. NUTS! Magic nuts at that.

1. user creates npub -> creates your nuts address

2. UI displays that user has a nuts address. They can get zapped RIGHT AWAY. That's right - everyone can get zapped IMMEDIATELY! Forget 4% address in profile bullshit.. 100% adoption!!

3. User can change their address to an LN one of course.. or to other cashu address in settings. Upon modifying a field or detected LN address, the UI changes the visual to show its an LN address or it's been modified. Why the change? Well, so people don't go zapping large amounts into the void if the new user never claims their nuts.

At this point, we don't even need cashu websites, because you can do everything in the client UI.

What about centralization?

OK. Rotate trusted mints. It's no different than what Primal has going now as far as I know. You are trusting someone for a bit and have the option to transfer your sats out. Same with nuts. Concerned about rugs? Swap your address to an LN one. Or.. choose another mint, or add your own if you're a pro.

This would bring nostr to 100% sats accessibility.

What about lost sats? F'em! Thank you for your contribution to bitcoin my humble sirs and ladies. The tradeoff of global(nostr) zap adoption is massively better IMO.

LET'S FKING GO!
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D'joey 1y ago

Is there a recommended video for what's eCashu or nuts are? I've seen this around, but still don't understand it.

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HoloKat 1y ago

I'd probably butcher it if I tried to explain.

I think the basic premise is that cashu is an L3 payment solution where you are getting tokens to signify your sat share at a mint. The mint is custodial and holds your sats but cannot give them to anyone but you. This is somehow connected to your nostr key pair.

So, people can send you sats (technically to the mint you specified), and in exchange you get tokens (cashu / enuts, whatever you wanna call them, doesn't really matter). And then you can redeem them to a) a cashu wallet, OR to a lightnign address (the mint pays out your desired sat balance). So.. mints operate in sats, but you deal with tokens.

That is my basic understanding of it, and I hope I did not butcher it.