Still have zero clue what cashu is
Discussion
CASHU IS AN OPEN PROTOCOL FOR PROGRAMMABLE BITCOIN BANKS.
IN PRACTICE IT PROVIDES USERS AN EASY AND CHEAP WAY TO SEND AND RECEIVE BITCOIN OFFLINE OR ONLINE WITH INCREDIBLY STRONG PRIVACY.
THE TRADEOFF IS CUSTODIAL RISK.
YOU CAN TRY IT HERE: https://cashu.me
The real magic of cashu and nostr is that it allows precoiner/nocoiners to bridge the first 100k sat gap that exists before being abke open a self sovereign ln channel.
You can create a nostr key pair, add a npub.cash ln address and start to get zaps immediatley. Users need to have 100k sats to open a channel with lsp like zeus.
Nostr native bitcoiners move down chain not up. Start on nostr, add cashu, open ln, close channel to base chain, hot wallet then cold storage.
Cashu makes nostr zap ecosystem seemless!
The gap is 10x smaller. We’ve seen channel sales as low as 7k sats in the past week. Just need to use the purchase in advance service https://lsps1.olympusln.com/
Common misconception.
I am only familiar with the long standing 100k minimum required to open a self custody LN channel with Olympus which creates an LN address. I haven't wrapped my head around this purchase in advance.
When someone has no sats how can they buy in advance?
When someone buys in advance is it a temporary channel rather than self custody?
Can I get a Zeus LN addresa for 7k sats?
That limit was removed quite a while ago.
Purchase in advance channels just require confirmation on-chain, but they are self-custodial and can be used for ZEUS Pay LN addresses