Printing your own money is the antithesis of Bitcoin.
These shitcoins are an abomination
Discussion
Word
ecash too?
Ecash is at least supposed to be/representing sats and not printed out of nowhere
Of course some mints will likely rug
Ecash is better than shit coins it is backed by bitcoin and will mostlikely be the scaling layer we need for the majority of the world to use Bitcoin as a medium of exchange we cannot do this on layer one or even on lightning.
I like to think of ecash as checks.
You give someone a check. (ecash)
Your bank(custodial wallet or mint) cashes the check(pays the ecash holder sats via lightning)
That is actually one of the best basic explanations I've heard for ecash
As much as I like ecash it's not tied to bitcoin at all.
I've seen argentinian peso denominated mints, as well as USD. We will see all kinds of shitcoinery on them.
Yep this is correct
My basic thoughts around ecash are that it's a slightly better way to use a custodian, but not by much
And with 100% certainty, some mints will rug and print ecash they can't back
Ecash is better than a regular custodian in that it's an open protocol we can build some assurances around.
Mints can do epochs at regular intervals for proof of reserves, use multisig (fedimints for sure) and leverage the web of trust, though this one could also apply to a regular custodian
Two of the greatest innovations in the last 3/4 centuries are Bitcoin and the stock market.
I wish all Bitcoiners acknowledged the fact that enterprises built the world we live in. Issuing new tokens is the same as issuing new stocks. But some tokens are shit just like how some stocks are shit.
Stocks are fraction of a business, there are assets and cash flows behind them and they have a lawful apparatus around them
pePeElonCoin or whatever shitcoin people print up isn't remotely close to a stock
All I'm saying is: not all non-bitcoin tokens are shit. I'd refrain from conveying these statements to your large audiences. Many people will believe your words without a second thought because they trust you.
Instead I would say:
Printing your own *scam* money is the antithesis of Bitcoin.
These shitcoins *that provide no value to the world* are an abomination.
*Can we stop promoting such shitcoins and only promote good coins?*
> Stocks are fraction of a business, there are assets and cash flows behind them and they have a lawful apparatus around them
Of course. They are fiat and work like any fiat.
Antithesis of creating a level playing field.
Equal opportunity is obviously the enemy of crony capitalism.
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