People sure are salty about ecash
Discussion
salty about People sure ecash are
I did notice that lately. Why is that?
I'd like to know
Its custodial. Very slippery slope, and in my opinion it should be considered a tranistionary solution until we have something better. I use it currently, but being complacent is a concern
Do you mostly use it for zaps? Or what other ways you use it? Am I essentially using it if I am linked up with coinos for zaps?
As long as people are honest about it, I think it's fine. Waiting until Fedimint gets further a long until I can run one with some other bitcoiners on here.
The link between fedi ecash tokens is still through custodial software. The tokens are only minted by the federation, but to redeem them, the software still needs to be hosted. The fedi mint is a single point of failure, and at that point and for general use, cashu in its current form is a perfectly acceptable way to use a custodian.
If you trust the cashu custodian to host the mint, you probably can trust them to not rug your tokens, at least in the short term. It's not perfect, but there aren't any silver bullets yet, both lightning and ecash aren't perfect alone, but together they largely solve the majority of end-user issues. Adoption of them together provide tools to solve many market problems.
If market use-cases are identified, and solutions are built around them, the need amplifies to find better solutions to the ecash custody problem. We know the problem is solvable, the only debate is over how and whether better solutions might emerge.
Patience is key, education is paramount.
> The fedi mint is a single point of failure
The difference between fedimint and Cashu is fedmint isn't a single point of failure. If one of the nodes goes down, the fedimint can still run.
Also, a great use case for ecash is for an employer to pay employees. Great privacy and ease of payment.
You just blew my mind. 🤯
If we're talking a few $20 bills then how much do we even trust ourselves? We rug ourselves all the time, we put bills through the washing machine, we let them fall to the Starbucks floor when messing with our pockets, we don't pay attention to them when we get short-changed...
Even if choosing cashu mints at random, I'm pretty sure the amount of cash I'll self-rug in a given year will he higher.
Well it is a custodial technology that can rug people easily unless you are running your own mint. It is just modern banking and money printing reimagined for bitcoin.
that's ok thelegendaryman@faintain.fm
denominationally divisive even. 🤷
Who lol ?
I love ecash
💟
ecash is so fucking cool. it is elegant and beautiful and powerful and it will free the world
i think the haters' biggest problem is a lack of imagination
Oh man, I hope I didn't come across as salty 😂 I just happen to have all of my zapping sats stuck in a respected mint right now, so I've been actively thinking about my own dilemma.
No, it was everyone else
tell me about it
i wish people were 1% as concerned about custodial mining pools as custodial mints. nobody gives a shit. i feel like i'm taking crazy pills.
just kinda weird that we're going to unnecessarily have these centralized custodial solutions
and then make a bunch of posts like
"but wait, how are we going to vett these trusted 3rd parties???"
If only there was a private non custodial solution with low fees.
and a good UX?
No. They are just honest about it being a piece of shit that doesn't improve bitcoin.