I don't usually comment, but since I'm trying to do nostr-only content...
Ecash can be helpful or a hindrance. Basically, if the norm becomes closed non-fungible systems, where you cannot get out (think gift cards, arcade tokens) that's a clear lose. Unfortunately running a system like that is great for the person running it.
On the other hand, if the expectation is fungibility: that you can seamlessly lightning out 24x7, and mints which don't do this are widely eschewed, then the promise is great.
I hope for the latter, but fear the former. If the pioneers set the social norms correctly, it might just work though.
I think the latter is more likely.👇
nostr:note1xuv2l9e40vm2p05lk6prsn45tfmy4v4kgj6lxwewdxuysdr4wcrsrnva37
I don't see any evidence in your post, just hope?
This is a guess. Suppose many Nostr relays charge a fee, requiring users to pay 1 ecash sat for each note they send. At the same time, many mints issue ecash, and these mints are more likely to opt for a model that allows for redemption back into LN sats. Nostr relays would choose to accept ecash from many mints. Both Nostr relays and Ecash mints are service providers, making it unlikely for a monopoly to occur.
Here's a question. Are ecash tokens capable of decomposing? Using fiat as an example if I exchange for 20 dollars am I getting:
A) one 20 dollar note
B) twenty 1 dollar notes
And whatever note I get can it be incremented down any further?
I guess Cashu now supports decomposition down to 1 sat, and may allow for less than 1 sat in the future.
Thread collapsed
Thread collapsed
But there's a well-known business model where you only allow one-way trade for your tokens. It's very lucrative if you have volume, as people over buy and then can't trade out easily. Think parking meter minutes, in-game currency, mobile phone credits, gift cards, airline miles....
Thread collapsed
Thread collapsed
Thread collapsed
Thread collapsed
