You can trade an ecash token against another ecash token from another user *atomically* (i.e. user's can't rug each other) if the mint supports ecash HTLCs.
🥜🤝🥜
Pretty sure David Chaum didn't see this coming, gm.
Discussion
Can we consider different ecash tokens fungible if they were minted by different mints? What's the advantage of routing ecash tokens if we can directly send them?
The above idea works within a mint but it also works the same way across different mints.
Tokens don't have to be fungible, the users need to agree that the trade is actually worthwhile. The mints don't care about this happening (they can't stop it from happening, if they have HTLCs).
Unstopable exchanges
Been thinking about this as well.
Using P2PK multi sig the two trade parties could agree on an arbitrator in the event of a dispute. In the good case the two trade parties sign the 2/3. In the case of a dispute arbitrator and one party signs.
Could use nostr and web of trust to find willing and "trusted" arbitrators.
This might be able to shape up to be something a lot less custodial than originally designed.
Its interesting, but I'm still skeptical. The e-cash tokens even in this design are not provibly linked to a utxo. So rehypothecation is still a risk. Still, this is an interesting development.
GM
What……!?😮
Use cases, application ? E cash tokens are fongible and tx privates so why would I want to exchange a token for another ? I’m missing something
Do you have a protocol name for this operation yet good sir ?
If I may suggest, I think this should be called Mind Goblin !
Serious question, i would really appreciate your answer on what i get wrong here.
what i dont understand so far:
i go to the mints website, get a token. the mint can log my ip and which token string i get
then i pay with the token, the receiver goes to the mint, enters it into a textarea to redeem it for lightning. The mint can also log the receivers ip and the token string.
so it knows who transacted with whom. What do i get wrong here?
you're missing the blind signature part: the token you get and the one you give back don't look the same, so the mint can't tell
thank you. when is the token changing, does the receiver need a special wallet to create the new token?
just a cashu token
*wallet
sorry, still having some issues with understanding it.
isn't the wallet also the cashu.me website? or is it a separate application i need to install separate from visiting cashu.me?
https://fountain.fm/episode/DqMeZJB0T851mCZ2RNsD
I tried to make an audio explainer for the blinded signatures. It's rough but an attempt was made.
Cashu.me is a progressive web app. You should open the wallet there and then install it: Android Chrome -> Install App or in iOS Safari -> Share > Add to Home Screen
Then you have it on your home screen. Does that work?
thank you for your answer. Sure that works, but what i mean is that the website and web app is issued by the same entity running the mint.
So it could log whatever is pasted into the text area as a ecash token and therefore should be able to log the sender and the receiver of the token on a application level, even before it is sent back to the mint to redeem it or not?