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Replying to Avatar Nice and Kind Vic

Cashu does not put satoshis INTO bearer ecash tokens. It issues an independent token which on its own is incompatible with every other cashu mint doing the same.

A mint itself takes possession of the sats, and offers a service to

- give you tokens for sats

- swap tokens for fresh tokens

- accept requests to pay bolt11 lightning invoices denominated in satoshis and provides an offer exchange rate

- may fullfill payment of aforementioned invoices through bridging to lightning network.

When you send satoshis to a cashu mint, you are effectively selling your sats for tokens under the hope that you can later get some of that value back.

nostr:nevent1qqsvfq9wv8ttncn2cewxw0yc8ee60hfpdw6kwcr8p26lrk86s0n6y6cpz9mhxue69uhkummnw3ezuamfdejj7q3q2rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sxpqqqqqqzx2nnyk

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Keysa - Simplest Bitcoin Edu 1y ago

nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg would you agree that is an accurate explanation of what cashu is/how it works?

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