Physical bills but they're redundant nfc/magnetic stripe/qr code ecash denominated in sats.
I'd be walking around with a fat stack of 100 sat bills like a baller in 20 years.
Discussion
Paper thin eink display so you can reload the bills
You have reinvented how cash even became a thing
bank issued banknotes => govt issued backed cash => govt issued unbacked cash => mint issued “ecash note” => government issued “sats note” => government issued unbacked “sats note”
Ecash is just a glorified IOU… not sure why people are so hyped about it
you do not have sats until you redeem the ecash, in which case you may get rugged and gets absolutely nothing
We live on the knife's edge of trust and security. If you're isolated and alone, you crave security. But if you have a strong social network, generations deep, you can rely on trust.
Right now a lot of bitcoiners are in the former state, trying to build the latter.
true trust often only emerges in small, tightly knit groups of people
it is so small to make the utility of ecash or similar trust based systems useless for 95% of use cases
Maybe that's enough, and the other 95% use another solution.
But for that 5%, it's better than all the alternatives, so it has to exist.
That 5% is what we might call “shared accounts/custodians in a single small community”
And it’s certainly not ecash
the game theory of trusted third parties should have been obviously a bad element of the architecture for anyone pretending to be part of bitcoin lol
in security design you already assume everything is untrusted until proven otherwise, most trusted components are limited and internal, and whatever external “trust” exists is limited to the bare minimum
the reason for the hype:
X algorithm seemed to really like calle
and primal algorithm also seems to like calle
calle is not a retard, ok, fine, but this severely flawed game theory model about making bitcoin banking, and that's what it is, is fundamentally flawed, IMO its best case is uncle jim use case, it isn't even good enough security for a village of 150
#yestr it's all fun and games until the paper in your pocket or the ecash on your phone returns to it's intrinsic value.
also known as 0
Your so-called "unbacked" cash is backed by goods and services in the economy.
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Lol :turtlehappy_sm: