Replying to Avatar geodesic

Can someone link me to a good explanation why Cashu users shouldn't worry about the mint being trusted? The dialogue I always see, goes something like:

* Alice: cant mints steal or fractional reserve?

* Bob: yes, but that would hurt their business, so they wont.

Can someone elaborate on that? Not trying to be cynical, but it seems to me like a large mint could choose to exit scam at any time.

#bitcoin #lightning #plebchain #cashu #enuts
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SecondBreakfast 2y ago

Its a tool for certain circumstances. Obviously life savings can't be trusted with something like cashu. However, it does seem like a very good privacy tool for smaller amounts, even with those flaws. IMO I think the privacy gains are worth it for small txs. If you use it in that way, I could see why people aren't concerned with the trust model

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geodesic 2y ago

Yeah, I'm just trying to better understand which circumstances it makes sense for.

If 10K users just store ~$100 in a Cashu wallet for online shopping, that leaves $1MM that the mint can steal.

Should users not connect to a mint with 10k other users? How do you know how many users a mint is operating?

Should users store only $10? What do you do with $10?

I'm just trying to wrap my head around _what applications_ #Cashu makes sense for.