Subnostr

with ecash you have the "how to start", you can have your first private money (with a bit of counterparty risk associated) and then when you have your 50 bucks you can use a non-custodial lightning wallet like zeus. There is a lot to do to make the ux better, I agree on this. But I also think that even today lightning makes monero obsolete.

And in the future we will see a lot greater gap from the two solutions, cause lightning can scale better with new solution as a layer (see splicing channels or bolt12 for example) while monero is a dead end, it cant scale without making impossible for most to verify txs.

Saberhagen The Nameless 1y ago

Ok, but ecash is custodial...you're just making my point for me about having to choose between either good UX, or sovereign LN, but not both. Moving that $50 to Zeus is less private than ecash though lol.

Yep I've been keeping my eye on bolt12. Definitely a big privacy improvement for LN. There was too much mania over lightning in the early days that fell short of the hype, so i'll reserve my judgement until bolt12 is more widely used and I can play around with it and see it work in the wild.

We'll see

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Discussion

ponymontana💜⚡ 1y ago

Its a spectrum, even when electrum created the concept of what we call today a "light wallet" there was problem regarding not validating yourself the transactions and delegate to a third party. But light wallet are an immense scalability solution and a tradeoff that can be useful in most cases. Nothing is really black and white, and I think that good hybrid solution are what we realistically need to scale. Ecash for little payments I think is really a cool tradeoff, I dont care to have a 100% security to not loose 50 bucks and delegate custodial. Privacy is more important for this kind of use, and with cashu you have it.

Is like entering the cinema and pay the ticket 1 hour prior. Nothing assure you to not being rugged, you have an abstract custodial asset redeemable at cinema entrance. I dont see no problem with having a custodial cinema ticket if I decided I'll want to see a film today.

Saberhagen The Nameless 1y ago

You say "nothing is really black and white", "tradeoffs", and "spectrums"

So if you're honest why can't you see that using Monero is just another tradeoff? It has it's own advantages/disadvantages over Ecash, Lightning, and on-chain Bitcoin too.

ponymontana💜⚡ 1y ago

it is, I used it some years ago as "hot potato money" to transact with lower fees and clean my utxos. Today, as I see developments on layer 2, I think monero is an obsolete tradeoff that is not useful anymore. In general layer 2s on bitcoin are here and mostly works, and no more shitcoins are need to scale, have privacy, have more programmable money, even nfts...

Saberhagen The Nameless 1y ago

I don't agree. And neither do markets where privacy is critical, but that's okay. Appreciate the chat.