So it's a BRC20 with extra steps and possibly more centralization
Discussion
I don't know if Cashu has technical papers written yet but I am not a fan of the ordinals either. Luring of the crowd to pump and dump is not the way to raise value of Bitcoin. Everytime this happens we loose sight of what's real and miss the chance of building real businesses that uses bitcoin as money
This all seems like the altcoin's trojan horse entering bitcoin - and its kinda scary
Exactly 💯 ☝️☝️☝️
Trust the mint bro 👌
What is it minted on?
🤷♀️
Don't trust, verify
Pretty sure that's one of the ten commandments of bitcoin 😅
Exactly my point.. but hey we just plebs that don't code and don't know anything because we don't code hahaha 😆 😉
Your 100% right but in my opinion, we don't need to know how to code to still understand certain fundamentals. I learned HTML from Neopets when I was 6-7 years old. 😆
Think of it like this. Do you trust altcoins and layers 2 for ethereum like matic and arbitrum? If your answer is no, why should you not have same level skepticism when it comes to lightning and other layer 2 protocols for bitcoin?
To be honest I only trust the lightning network and not fully trust because you just can't. If I have to trust a human on the back end I won't trust it.. lightning is cool because you are not converting btc to anything lightning network is just a tunnel to move it faster. Not a lot of newbies understand this shoot I'm a newbie too haha. I don't see any use for cashu or Lbtc for me idk I'm strict with what I put my sats in.
I believe Cashu's USP is "privacy" as they ride on the notion lighting is centralised in terms of data collection, not private, user data exposure, security risk etc - this was articled passed on : https://abytesjourney.com/lightning-privacy/
I don't know if anyone has dived into this, quantify providers vs services and determine accuracy of this claim. But if there is I would love to know more
If Cashu is to target niche markets on specific privacy requirements, take on the Tor approach then I get the gist. However at this point, they plan to have a wide target market, which means cashu taking over a large amount of sats' circulation. I think this is a very bad idea. Having said that, so many others can also start establishing tokens of their own and do whatever they want in the name of "Bitcoin privacy".
Tgis an old screenshot I saved