Every zap on Olas is being converted into cashu rather than going to my lightning node, meaning I can’t use it except from Olas if I use their built in cashu wallet.
Cashu is a shitcoin.
Discussion
Just use cashu.me to switch out to lightning.
Olas is still early. Features will be built out.
Why when I have a regular lightning wallet connected are zaps going to my non existent cashu wallet instead of the node linked to my npub? Cashu is literally a step backwards.
It’s not hard to attach a wallet to a Nostr app, you literally have to paste ONE FUCKING THING.
This experience has made me into a certified cashu hater
It's a credit instrument. Not exactly a shitcoin but two deviations away from base chain Bitcoin.
It does nothing that lightning can’t do
Asynchonous payments is one thing, loans is another but regardless, I don't like a layer three at this point either. I am just saying it's not a shitcoin, definitionally.
I know I’m retarded but how does it help with loans?
And I know it’s not a shitcoin but as far as I can tell it’s basically like a treasury note (but it is backed 1:1 by Bitcoin). It’s just fun to call things shitcoins
So, you hold Lightning in escrow to a cashu mint. The mint distributes (in a loan) those cashu tokens against the locked up lightning funds. This allows fully collateralized loans without having to confirm it on chain.
Think of it this way:
>Anything you can do with gold, you can do with Bitcoin.
>Anything you can do with cash, (pre-1971) you can do with lightning.
>Anything you can do with credit, you can do with Cashu.
Credit is a loan instrument by its nature.
Retard take
Why doesn’t your sister have a lightning node yet?
She doesn’t have a bitcoin wallet. She is a normie.
My brother however has a sub account on my node, and he can connect it to Nostr apps by pasting one fucking thing.
Cashu is fucking retarded. The solution to not having a self custody LN wallet is to have a custodied LN wallet, not a custodied shitcoin token wallet. What the fuck
Cashu is basically an upgraded hosted lightning wallet.
It enables offline payments and instant micropayments with zero fee. Also the host mint is blind to the user balances for privacy.
Someone brand new to nostr can get cashu immediately without setting up lightning at all. It is provably not a shitcoin.
Cashu is like credit cards
Lightning ACH
On-chain wire
A normie like your sister just has to download Olas and she can receive Bitcoin. No set up from you or anyone else.
How will she transfer cashu tokens from olas to an actually bitcoin wallet?
Eventually she’ll be able to redeem the satoshis on a mint and then the mint can send a lightning payment as a withdrawal to her own keys on lightning or a swap to on chain.
Pablo is still working on Olas so it does not have all its features yet. Even nostr protocol itself is being worked on to enable this. (Nip-60)
This is cutting edge.
Try playing with cashu.me if you want to see what’s possible
I use the mint:
But, if you aren’t a novice user, why would you not just use LN for zaps. I get using it for more complex things like loans but cashu is really just an unnecessary layer for anyone who knows what they’re doing, at least for simple zapping.
I guess maybe it’s good for being KYC-free, but if you have your own node that’s not a problem anyway
I’m sure I’ll feel like a retard in a couple years for doubting cashu in any way lol. Just doesn’t make sense for things LN can handle, to me
Stay toxic dude we want every idea challenged and tested by fire 🫡
Check your DMs I sent you a cashu you can test if it can sent back to your LN node!
Just add the mint it is currently on and you get it no fee- then when you send it to your invoice leave a couple sats for routing.