I've been seeing people describe ecash in Fedimints and Cashu as users giving away their bitcoin for ecash. Is this framing actually correct, or is there something more nuanced going on? I've seen elsewhere that users aren't giving away their bitcoin but are instead also receiving server credits that allow them to interact with the Lightning gateway of mints. Can someone clarify this for me? nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg nostr:npub1t0nyg64g5vwprva52wlcmt7fkdr07v5dr7s35raq9g0xgc0k4xcsedjgqv
Discussion
I believe the framing is still in the making. Personally I imagined at the beginning the concept of "buying" ecash for sats and in early version of minibits, the unit itself meant to be
After short discussion with calle roughly a year ago I released the wallet without unit at all.
Later I've just aligned with convention in order to not bring mess into early protocol.
From regulatory pov, idea of buying something could be more easy going for the mint legal structure even it is likely that not all jurisdictions will accept it.
The other model of providing "sats" sounds to be clearly a banking service.