bitcoin audible wen?
Discussion
Isn’t ecash a shitcoin?
Its custodial bitcoin will genuine privacy. Can also be federated with things like Fedimint. In a way an IOU is always a “shitcoin,” but no it’s not some separate token with a blockchain trying to sell that it’s “better than bitcoin.”
Ecash can be predominantly understood as one of the biggest potential improvements to custodial bitcoin/lightning wallets.
You wouldn't say sats on strike or WOS are a shitcoin
🤔I don’t leave SATS on either that I wouldn’t care if I lost.
WoS may be a bad example due to recent “news”.
The point is, its custodial. Don't trust ecash tokens unless you trust the mint. If you don't trust the mint, cash out to lightning as soon as you get them. Amethyst does this for you. Then only mint tokens for sending to others.
Ecash needs two advancements: recoverability and mint trustlessness.
Wallet recoverability is in the works.
Mint trustlessness isn't possible yet, therefore you need to find a mint that is run by someone that is trustworthy. You also want to establish trust with the mint owner, so if the mint breaks, you could ask the mint owner for your sats back.
“see ay ess aych yoo ay ee why jay zero bee too tee ell …”