Dear nostr:nprofile1qyv8wumn8ghj7mn0wd68ytnxd46zuamf0ghxy6t69uqsuamnwvaz7tmwdaejumr0dshszxthwden5te0wfjkccte9eekummjwsh8xmmrd9skctcqypgdjn7zmpvqc6ptqud9gtutrcc6yq9s2z96h9dr80hss4wl9qwkx3zqtxl , Thank you, Sir, for responding. 🙏🏻🫂😀
I have been reading your posts and those of others about Cashu with considerable interest. I've been "orange" for many years now, and a very strong proponent of the separation of money and the state. A cofounder and I have recently launched a local area bitcoin meetup. We are hoping to establish a strong circular bitcoin economy in our neighborhood. Your reports of existing and future developments in the technology sound very appealing to me for that purpose. Another gentleman (whose nym I forget at the moment) has been testing the use of Cashu over LoRaWAN nodes, and I imagine setting up such a standalone mesh system in our area. I mention all these things so you will know that I am very interested in and appreciative of the work you are doing.
And so, before going all-in on Cashu, due diligence moves me to learn more and to try and understand the ins and outs of Cashu and to evaluate to what degree the FUD leveled against it by nostr:nprofile1qy2hwumn8ghj7un9d3shjtnyv9kh2uewd9hj7qgwwaehxw309ahx7uewd3hkctcpzemhxue69uhhyetvv9ujumn0wd68ytnkv46z7qpqxvtwx6tduaxnn9v3y7uasskl277achgu0tu2qncmc7hdsz6y2zyqwe9eex or others has any merit in reality. And I see now that you have comprehensively responded to him on the Stacker News thread, and I find your response there very helpful and instructive, Thank You.
In your reply to nostr:nprofile1qy88wumn8ghj7mn0wvhxcmmv9uq32amnwvaz7tmjv4kxz7fwv3sk6atn9e5k7tcpzfmhxue69uhkummnw3e82efwvdhk6tcqyqe3dcmfdhn56wv4jynmnkzzmatmmhzar3a03gz0r0r6akqtg3ggsxvdtaf you have certainly addressed the questions of individual privacy and of the custodial nature of Cashu and consequent precautions when using it. However, in light of recent state attacks on various bitcoin wallets, companies, and individuals, I would greatly appreciate it if you could please address the question(s) of exposure to and risk from predatory state actors for those who would create and operate mints and/or other necessary infrastructure in support of a community using Cashu? If you have already addressed this somewhere, a link or links would be more than adequate.
Thank you again for your work on this;🙏🏻💖🫂 I do appreciate the unfunded, open-source nature of your efforts, and hope that if and as our community begins to deploy the technology, value will return to you.
Thanks for the mention
No funding- this is a lie as Cashu has received considerable funding from some extremely sus-aligned NGO's
He also hasn't answered to the fact he pushes it as a payments spec. Were it simply an account-less Uncle Jim API he'd have some standing
Analogue of a BIP would be a bLIP... so the comparison would be fair if it called itself blip12
In anycase, they're both perverse
Agreed it's useless shitcoin tech, but it's also not pretending to be a lightning spec...
I just ignore it, it's a separate daemon- not a trojan horse into existing implementations
It's time for Lightning⚡️ and it's time for BOLT12🔩
As of today, OCEAN miners can attach a BOLT12 offer to their #Bitcoin address and get paid out over Lightning!
BOLT12 offers allow us to request multiple invoices for any amount while only requiring the miner to set things up once.
Miners simply sign a message containing the offer using the private key associated with their Bitcoin address.
Using BOLT12 also allows us to prove to the world that a payment was made, the size of the payment, the node to which it was paid, and that it was paid by us.
This means we can continue to offer fully transparent and verifiable pooled mining while no longer being restricted by the base layer!
Using the Bitcoin stack to its fullest is how we eliminate the need for trust and bring sovereignty to mining.
🚩🚩🚩 Bolt12 is basically a reimplementing of Tor, a poorly designed and unreliable transport abstraction over Bolt11, and an assault on its network effect.
Transparent in its peddling by neobankers, otherwise a trojan horse for scaffolding native shitcoin support in lightning wallets. Bad stuff.
They're obviously trying to KYC nostr relays
No, in saying the guardians can't stop the seller from rugging you.
It's valuable to the operator in scamming the user by making them think the trust is distributed. That is it's usecase.
If you want to claim its useful for scamming the regulator, that's fair, but don't pretend its any better than single party custody to users.
It's one server providing the API, it has several vectors for unilateral rug
These products aren't raising hundreds of millions from large custodians to benefit you, they're scams like every other shitcoin
Federations are one trusting one person
That's the point
It's all a larp, that's the scam
Custodial* for small amounts yes, federated is just how you know the custodian is either a scammer or not qualified to run reliable infrastructure.
It's easier to scam some people than it is to convince them they've been scammed
Trigger warning
ShockWallet.app
"Federation" is scammer nomenclature designed to mislead non-technical people
Some seem to think that Lightning will simply be a settlement layer between other payment systems
This dystopian view of incompatible fiat payment specs shows that they have learned nothing about network effects from L1 Bitcoin
No coincidence they're all shitcoiners
That's the design objectives, use NGOs to astroturf it as a Bitcoin affinity scam until the US Treasury is the default mint.
It's not a threat to Bitcoiin itself, but it does harm like any other scam scamming that diverts resources away from honest developers.
Bitcoin will persist and triumph regardless as a means of exchange, and the silver lining to ECash is it will put a spotlight on the clowns and scammers in the space that peddled it.
I don't think you're missing anything, it's no coincidence that bitcoin as MoE being bad for the state means lots of high-profile people are going to gaslight us in saying it's not meant for that.
That's why it's important we keep making Lightning better and shame the fake Bitcoiners shilling ECash for a paycheck.
It must be both, if something isn't property then it is useless as money because no one would want to receive it for their goods/services.
It's p2p cash because you can transact said property without 3rd party paper, that's a nightmare for the state