Replying to Avatar Max

If we define cash as base money with no counter party risk, then credit money tokens are not cash.

I'm not sure if cashu is the right tech for bill of exchange, as there are strict requirements for a contract to be classified as a bill. For example, a bill cannot be divisible, it requires signatures of both the sender and receiver, it should have an invoice attached etc. I think this can be all done with nostr alone.
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Hu₿ertus the Austrian 1y ago

This needs more nuance, I prefer a risk view:

1. Ecash gives 'cash' finality on counterparty risk just fine.

2. Yes, there is mints' issuer risk but that's a different matter altogether.

3. Last, sovereign risk on the base denomination, nation states or DAOs whether formalised or informal like Bitcoin.

So better: base money CAN be used as cash – with certain trade offs – but not all cash needs to be base money, it just has other trade-offs.

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