Subnostr

But why would you do that? You get no benefit by having a mint in that scenario if you are the only one using it. You would be privately shuffling tokens inside the mint to yourself from yourself. I don't know how that helps you.

As soon as it leaves the mint, it is no longer private again, and you remain just as anonymous as before you entered the mint with your KYC-free btc. In other words, the mint was a completely unecessary step.

And if you are sending tokens from your mint to other users, then we are right back to it being custodial for other users.

Cyber Seagull 2y ago

You said cashu is custodial because of mints.

I said if you own/run the mint , you are still in custody.

Now you are saying sending tokens to other mints makes it custodial again.

At some point in an exchange, money/value/tokens, is in someone else's custody...that's kind of the point of a transaction.

What i think you mean is, when you send the token to someone else, it will be on a mint owned by a third party.

If so, you have misunderstood Cashu. A token is not sent, it is announced and then redeemed. If the user you share the token with redeems it using a mint they own, everything is in the custody of the intended persons, throughout.

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Discussion

Saberhagen The Nameless 2y ago

>"Now you are saying sending tokens to other mints makes it custodial again."

No, I'm saying if another party operates within your mint, using your token, it is custodial. The act of them redeeming it on lightning or onchain, means it is no longer ecash on your mint. I feel you are conflating the redeemed bitcoin with ecash.

>"At some point in an exchange, money/value/tokens, is in someone else's custody"

You are being somewhat semantic here. Of course it is in *someones* custody, but there will be many more counter parties with IOUs that do NOT have custody.

The only time ecash is private is when you are transacting WITHIN a mint. And 99.9% of users will be doing that custodially with a "third party mint" as you say. Otherwise it is pretty pointless.

Cyber Seagull 2y ago

I see what you mean about the IOU. So because it settles on chain eventually it's not private, because in A>B>C the eventual exchange between A and C is known.