Ecash doesn't scale Bitcoin — it scales Bitcoin's use cases.
Discussion
🔥👌🏾
And.., it introduces counterparty risk – the very thing bitcoin eliminated.
not necessarily.
Please elaborate in one sentence.
As per my understanding, the most secure way of doing it is through locking it to your npub. If it's locked into an npub like in npub.cash, then I would assume only at the instance when redeeming for sats with the chosen mint.
It has nothing to do with locking ecash but with the mints you use. Ecash today is used whenever a user would otherwise have a balance (mining, API access tokens, Internet access credit, custodial wallets). Nothing changes in terms of trust. It adds privacy and other features to these systems.
> mints your use.
Makes sense, that's why I mentioned redeeming.
Other part has to do more with custodians: if you, for instance, had ecash balance with coinos during recent events and couldn't access your account because of the hack. Having it locked to your npub means you can always access it as long as you hold the key pair.
Am I wrong to assume this?
I've figured it all out. There's David Chaum, and Chaumain is a play on his last name, and purposely sounds like Chow Mein, which is American Chinese food, and then there's Cashu, which is a play on cash, and purposefully sounds like Cashew, which is a key ingredient of Cashew Chicken, which is also American Chinese food.
This more or less confirms what we all thought, which is that the future if Bitcoin as a medium of exchange is somehow tied to American Chinese food.
So it's kinda like the "other stuff" in bitcoin :P
So it's kinda like the "other stuff" in bitcoin :P
It scales Bitcoin custodial use cases