Replying to Avatar Max

Bitcoin full nodes create base money.

Even eCash mints can create base money when they don't offer any peg out mechanism.

Base money is not a claim on something else, but it is the thing itself.

Today's cashu & fedimint are money warehouse receipts, and holding this bearer asset constitutes a claim on base money sats.
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Toshi 1y ago

Which brings the risk of diluting the 21 m cap of Bitcoin. Of course not the real Bitcoin, but if more ecash is printed than Bitcoin is custodied it will decrease the purchasing power of actual bitcoin.

How is this problem going to be solved?

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