nostr:npub1zgqgn4cechumpen540shlfzzcagq23x3mcgdm8k827lvl5lnyuzsa28255
Why would you use monero when you have e-cash?
Discussion
Does it really need to be said? Figured the "why" is obvious by now.
-One is self-custodial. The other requires a custodian.
-One network can't be shutdown. The other becomes useless if a single mint shuts down (voluntarily or not).
-One has no seignoirage. The other can be arbitrarily and covertly printed.
-One has a united anonymity set. The other is fractured.
This doesn't mean that ecash doesn't have it's own uinque perks though.
nostr:npub14a6q6xvt4wuv0wpdpfr336e4fweldtu6np3ehpw55h83xuw2h2zsgyz6rn
Are those really points of failures. Or are the safeguards?
I choose the base layer signature of cashu
The only thing wrong may be expecting one of them to be a winner over each other
Confused by your first question. Is Bitcoin being self-custodial and having an unstoppable network a safeguard? Or is that a core value prop?
I don't thing they are in competition because they are solving different problems and combine different advantages
I agree with your last sentence
how is being custodial a safeguard?
Please tell me the great risk of using Cashu then?
The risk of using any custodial solution, Cashu included, is that the mint either inflates the supply or rugs you.
DYOR
What did he say that was wrong?
I know the ecash token is self-custodial, but it is worthless without the underlying asset that backs it that is held and controlled by a custodian (Bitcoin). The mint can even mass-censor all it's users by not exchanging/swapping tokens (intentionally or by coercion).
I run my own mint to pay my workers
Ok
So are you the only person in your mint and you pay your workers out of your mint over lightning? (no anonymity set for your mint and no receiver privacy over lightning - defeating any benefits of ecash)
Or do you mean you pay your workers with ecash tokens? (in which case you are their custodian)
You are defending a shitcoin
He doesn't need to defend anything. Monero just is. It's open for everyone. No matter your background or ideology.
And as Bitcoin OGs we are very well aware of the trade offs. That can't be said about Bitcoin newcomers of the last 10 years who are mostly interested in fiat gains and seem to rectify a lot of their illogical reasoning.
For edge cases we will have mints for Monero that put privacy on a new level.
You're the one defending a ruggable + printable IOU token with you mental gymnastics. Not me.
🤡
Obviously the risk of hidden supply inflation or rugpulls does not exist with self-custodied Monero.