With ecash, the mint doesn't know who the users are. No one does. This could be app level, but again that is a central point of control. IMO we should make it cultural like zapathons. Ecashathon: every Fri and Thurs ecash users reissue all their notes.

Reply to this note

Please Login to reply.

Discussion

Seems like clients not managed by the mint could force runs but the UI/UX. 🤔

Yes, exactly. To really bank run you need to withdraw to lightning. This will cause liquidity issues if you have a large balance of ecash and/or small channels. Reissuing ecash doesn't prove that the underlying funds are safu but it is a critical piece of the puzzle. If you want to dig in you should read nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg's proof of liabilities scheme. https://gist.github.com/callebtc/ed5228d1d8cbaade0104db5d1cf63939

I reference this to people regularly when the ecash fud about inflation happens.