GM Nostr ☕
When the first mint runner gets indicted on some bullshit money laundering or money transmission charges, will we finally agree that e-cash is cool tech, but a complete distraction and waste of time for the Bitcoin end goal?
Have a great day 🧡⚡
gm
I have a huge respect for nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg and think he is a prolific builder, but I'm 100% with you on this. It's a distraction from what's important
Contrary to Whitlpool or Phoenix shutting down, when mints get seized people will loose funds (and it won't be small amounts, it will be more than they admit) and they will cry and act surprised.
Yes completely agree on Calle. Always honest and principled. I look forward to buying him a beer and chatting with him again Oslo.
the more options we have the better.
people should be aware of the risks and decide for themselves.
*More* solutions isn't always better.
*Better* solutions is better.
Look at the shitcoin market. Imagine if all those dev hours and money were poured into Bitcoin.
Think about it for a second: anything they are acusing Tornado/Samourai from, bitcoin does.
Money Laundering? MSB? Conspiracy to evade sanctions?
Be brave and go for the bigboy. Do like China and ban bitcoin. All what they are doing is just a fear game. A psysop.
The west doesn't work so brazenly.
Hard to disagree, however ecash plus nostr allows anyone in the world to aquire no kyc sats and stack them up while their only bitcoin balance is below the minimum 100k sats that a self custody lightning channel needs to be to open. It let's users enter from a social layer and move down the chain.
Im not doubting its abilities, I'm stating it's critical vulnerabilities.
Who's gonna run a mint to enable what you mentioned after the first one gets shut down?
Anyone who feels comfortable with that risk, because of his measures for anonymisation of the mint ownership, or his expectations of profit, or because he feels he is legally covered. Other reasons could be ignorance or unawareness of the risk, or for activism. Even apart from the last one I think we get plenty of mints.
Because of ecash characteristics, with at least some trust involved, and it just being text there is plenty of ways you can disguise your mint and you would need to have total communication crackdown to prevent transactions.
Even though its technically not a layer of Bitcoin, anything that can reduce the load of transactions on Bitcoin like cashu could do is important and not a distraction IMO
my boi still haytin on the mints. 🤣
currently the best privacy tech out there!
Also the best rug pull tech out there.
it's rugs all the way down mate. All that whirpool code in the bin now. Priced that in too??
You must credit the design with a lower risk of rug, and with the privacy benefits being the current leader, should be pause for thought.
Gm. If you want something to exist, be productive and work on it.
I'm sorry but I think your statement is the distraction and the waste of time.
Ecash is not only cool, but improves privacy, transaction success and reduces entrance costs of Lightning. Like being able to run a LN Node on a RPi was, this is another paradigm shift in improving decentralisation and lowering friction for money transaction.
The mints will move to the jurisdictions pro Bitcoin.
Just like of those Whirlpool and Wasabi coordinators we see popping up in El Salvador?
The incentives to move were not strong enough (yet).
Can you elaborate?
When it is obviously illegal (after a courtcase), people will run the software in other countries.
Do you have any examples of this being true?
Sorry for the late reply, but i have no examples. (did no effort to look this up as well).
This game theoretic logic of mine in this thread is just that, theorethic. We'll see how it turns out, but I really believe that ecash is well worth developing.
You are right with this take, unfortunately.
