🎯

I completely agree.

The programmers should focus on the further development of #Lightning

instead.

Not yet.

Well said 🤝

Cashu is fun. If people want to spend time and energy on that, it is what it is. I'm all for travelling the unbeaten paths exactly because we don't know what we'll find there.

How do the trade-offs with the Rizful wallet differ from the trade-offs off a cashu wallet?

Respectfully, disagree.

Bitcoin's breakthrough was that you don't have to trust *a central bank*. Bitcoins breakthrough is trustless scarcity.

Hyper-bitcoinization does not imply trust is removed from every layer of our markets (financial or otherwise). Markets necessarily require financialization, and financialization requires varying levels of consensual trust. That consensual trust is GOOD and beneficial as long as the foundation is a sound money.

It does not mean trust further up the stack will never be broken, of course it will. But when that trust is built/broken on top of a sound money, the system can heal properly.

Various market interactions will always trend towards centralization and trusted models, because they are inherently more efficient along the happy path. That's a good thing (once coercion is removed!).

I think these mints have a purpose for trusted relationships. Like if you’re part of a group of friends that regularly do things together it would make sense to have a mint for fee-free exchange. Similarly, you could run mints for your household cash exchange (privately teaching your kids about digital money), if you find like-minded families you can exchange mint-to-mint via LN privately also. Federated mints would have more utility - you could have regional networks of like-minded people exchanging value privately. Think like a homeschool event network or something like that.

You could use LN for those cases but you have to pay fees and lose the privacy add from the mint

cashu is about completely frictionless (small) payments. You can add a header with your token and access paid services. Many such cases that are not possible with onchain or lightning.

For me it’s mostly useful for streaming sats and usage in API especially with very low amounts of 1 sat or even less. That’s where lightning has too much overhead.

You pay a service with lightning and while using it, you spend your cashu balance. It’s a very convenient and painless way for developers to add bitcoin/lightning integration by using a mint.

Bitcoin doesn’t scale to all people for P2P transaction, at least it hasn’t. Does that mean it has already stepped off its own path?

Analysis of the Game Theory Behind the BIP-444 Proposal

https://njump.me/naddr1qvzqqqr4gupzpcnza5az9tvvg79swlh46lzkktpu0ffs2x0dd9hd9etuvhs5077tqywhwumn8ghj7mn0wd68ytnzd96xxmmfdejhytnnda3kjctv9uq3samnwvaz7tmwdaehgu3wwpshyet5duh8gmmhdchsq926wen9gtf4gfnnz7rsg3yryvtzx3g5vntwcxgdgr

Bitcoin is money

but we need a payment system or layer

Like savings account is the Onchain Wallet and a daily driver via Lightning/Liquid/ecash to spend sats

Bitcoin is dollar

Layer 2 is visa / Mastercard…

Don’t Forget that when all BTC will be mined, miners will only get paid via Onchain fees that’s going to rise a lot

So only important money transfer will occur via Onchain