So now i have 2 mints in my #minibits wallet. I know the pros of it but what are the cons.
Discussion
Move em to one mint maybe? Don’t have to really.
- Without knowing how many other users are in the mint, or more importantly regular activity levels, you can't rely on a meaningful anonset and the mint operator continues having substantial insight into transactions
- Typically, spends out of the mint for a lightning transaction payment incur a minimum fee which is not competitive with major custodians for those that transact frequently.
Can you exchange from one mint to the other?
If you can, thats a con.
Mints need to settle in BTC
Not sure. Still learning
More mints might have some advantages, not far from reasons why people hold accounts with more than one bank.
Ecash wallets like #minibits allow you to spread the trust in funds custody across more then one mint: typical custodial lightning wallets don't provide that.
In the longer term if ecash takes off, mints might differentiate by other features like providing ecash representing other assets like USD or having good lightning connectivity in specific regions thus providing reliable pay-ins and -outs etc.
We are very early.
Cashu ecash moves from one ecash mint to another ecash mint via a lightning transaction between the lightning nodes of each associated mint.
ecash can move between people/wallets without a lightning transaction if the ecash stays in the same mint.