I think Chaumian Ecash on Btc lightning is going to evolve to where there is no need for monero , so I wouldn’t save in it no. There’s no longer going to be a need for it with the privacy features being worked on
Discussion
I’m working through all of this right now and I agree with you on XMR.
What I can appreciate about the XMR crowd is that we have the same goals and aspirations about how the world should work. I just think we should “keep it simple stupid” and look for a solution that works for everyone, which I believe is bitcoin.
This might need time to get to the same place xmr is on the privacy side, but i think it all starts with BTC
I’m going through a tutorial on eCash right now. I’ve been an XMR supporter for a long time because of privacy and the legit business case for private transactions; eCash mints have promise to achieve the same result. Amazing.
It’s really amazing. The only thing is right now you don’t know if you can trust the Mint is fully funded. I think this will be solved soon though
Trust has to be solved. There is currently too much trust.
I think Mints will have more transparency if they are fully funded or not in the future. But agreed
Enjoying this discussion.
I like to keep an open mind and always want to explore what’s out there. Have never heard of eCash but I’m intrigued. Let me ask this…
If trust is the biggest concern with eCash, wouldn’t Zcash potentially be more appealing given the longer history and strong privacy tech that Zcash is known for?
Serious question.
I think trust as an issue with eCash is a transitory one; it will be figured out. The allure to eCash in the iterations I’ve read are it’s direct link to BTC; offering a fully integrated, private solution.
Great discussion!
With eCash you gain convenience, privacy (from both the mint and others), and cheap transactions. The trade off for all that is loss of custody. But Fedimints offer a trust minimized version of that. The mint can have multiparty custody to at least reduce the likelihood of being rugged.
A few episodes on Fedimints if you want to learn more:
https://optoutpod.com/episodes/s3e01-fedimints/
https://stephanlivera.com/episode/331/
https://www.whatbitcoindid.com/podcast/fedimint-the-future-of-bitcoin-custody
If Bitcoin achieves virtually every benefit of Monero with eCash, I can't see why Monero community wouldn't use it. Loyal to the goal and spirit of Monero, not the name. The loss of custody with eCash is quite a big deal though.
Chaumian Ecash is really interesting and a step in the right direction, like with Fedimints, but the custodial nature is still just that. Custodial.
Will keep my eyes on it though and see how it develops.