That’s one of the main criticisms of eCash in general — rugpull.
Fedimint tries to protect against that by using a “community model” with multiple people holding multi sig keys
My understanding is that these services, or Cashu at least, could function similarly to Wallet of Satoshi, except with near-perfect privacy instead of nearly-none
*in sign language*
Sometimes smash buys if I’m feeling especially degenerate
Strike deposit delayed for anyone? Tryna stack more dippin dots
Fair enough. My point is that most shitcoins are colloquially identified as a fiat-ngu-minded, scammy project that rip off the average person, usually by promoting “blockchain tech” and a false sense of decentralization, and the Cashu protocol does neither of these.
Exactly. I appreciate the optionality.
And I seriously appreciate the little ⚡️ next to all of our names & nip05s. Just noticed that - a nice touch, Will 🤙
🤙
nostr:note1jcvqk8ek7px0g8x8sdvrt4nn9et687alfd23mypgyxn03f4mareqjlt0lg
I still like engaging with notes that I may not want to zap. I don’t think of it as superficial, but rather as tiered engagement depending on the content.
Sometimes using a Shaka to acknowledge a conversation’s fourth or fifth comment/reply, is the right way to say “I saw your reply of ‘thank you’ but don’t need to reply ‘you’re welcome’ “
My friend, it’s been so cool seeing these little tidbits of your child’s growth.
Your “baby is today” post a few months back was the first of its kind that I saw on Nostr, and it made me realize how we’re all becoming more connected to each others’ lives here.
Have fun swimming 🫂🤿🤙
As for why it’s not a shitcoin, there’s no blockchain involved (other than Bitcoin).
You hold the ecash on your device directly (as opposed to keys for a cryptocurrency), more like a torrented song. Then you can send that ecash data to another person, or transact entirely offline.
This is a good explanation. With the added benefit that the bank has no idea who they owe the gold to, and if you pass the bank note to someone else and they redeem it, the bank does not know who was involved
Near total privacy for the eventual exchange of Bitcoin
You do need to trust the mint, but I like the example of Netflix, where you could trade some sats for ecash and then stream the eCash back per minute of video playback, with full privacy, or cash out when you’re done watching to redeem for Bitcoin.
Maybe #[3] has a particular page or resource with more info?
Dippy McDip Dip
Oof. My technical acumen wouldn’t do it justice... But this is essentially a project to allow people to use Bitcoin via ecash, privately. There are trade offs, but I understand it more like a layer 3 on Bitcoin (again, technically speaking, idk).
Either episode is worth a listen 🤙
I’m not here to hate on anyone, but I got a lot out of this episode.