very interesting concept
when you spend cashu mint tokens, someone has to receive the same amount of tokens, correct? how does the cashu protocol move these tokens around the network with no logging?
curious with the protocol tho
In terms of metaphors for #cashu nostr:npub1dx5q2el8nd4eh3eg9t2e25fd7zuqg7zxz6ldkc3uzgh66ss2yc6st288sj , this is what I’m thinking (out loud) for newbs.
In terms of privacy it’s like when you go to the atm to withdraw cash, the bank can see how much cash you withdrew (in this case lighting) but not where you are spending the cash (your cashu mint tokens). Should you need to put cash (mint tokens) back into your account, you can deposit cash back to your account via the atm (withdraw tokens to lightning and send out to lightning wallet).
So cashu has great privacy benefits even over and above lightning and is ideal for a community P2P system. I love it
Discussion
It’s not like keys that unlock the Bitcoin/sats, the tokens themselves ARE the currency. I believe it’s the pool of sats as the “entrance fee” to the walled garden transferable 1:1 sats to equal parts cashu tokens. You pay a lightning invoice of 500sats, you get the equivalent cashu tokens, and everyone else does the same. I’m trying to draw metaphors here to simplify for newbs without missing critical protocol components and oversimplify. I’m not 100% clear on the technical part of the moving tokens with no logging other than there’s perfect harmony between sats entering and cashu tokens created.
nostr:npub1dx5q2el8nd4eh3eg9t2e25fd7zuqg7zxz6ldkc3uzgh66ss2yc6st288sj and nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg are good resources for all things #cashu
