nostr:npub1xnf02f60r9v0e5kty33a404dm79zr7z2eepyrk5gsq3m7pwvsz2sazlpr5 Any maintenance going on on your end? My channel to Olympus has gone offline for some reason.. Peer status shows as inactive.
Anyone else have issues cashing out their sats from #eNuts lnbits mint (legend.lnbits.com)?
Can't cash out to my own node, to SN, nor to any one else's, either errors with timeout, or outright can't find a route..
#cashu #lightning #ecash
nostr:npub1getal6ykt05fsz5nqu4uld09nfj3y3qxmv8crys4aeut53unfvlqr80nfm I’m trying to buy sats in India. But it says “Onchain top up is currently unavailable”. How else do I buy sats??
#asknostr
Robosats & Bisq.
Robosats lets you onboard straight to Lightning.
Still doing my research on it, but so far my understanding is:
The Lightning network solved some issues as a stepping-stone for scalability, but it didn't solve others, for instance privacy (made it a little better, yes, but there are still glaring issues).
Cashu is another stepping-stone, but a significant one in that anyone who joins Nostr today automatically has a cashu address without needing an account on any lightning infrastructure, and can redeem sats - No friction.
Further, the way ecash is minted is blind to pretty much anything that could identify a user or their funds, it holds no record of such things.
ecash tokens can be transacted offline (with a degree of trust still) due to being bearer assets, they are the money.
Because tokens can be transacted outside lightning before being claimed/redeemed/cashed out, it means zero fees. I think this is where the notion of "ecash" really hits.
In other words, it does custodial Lightning an order of magnitude better than current Lightning custodians.
If all the above checks out, I foresee Lightning being the place for infrastructure custodians and self-hosters, and cashu mints (and potentially fedimints) as the new wave of custodians. Previous custodians (like the Albys and the WoS' etc) will likely adapt, or be phased out over time.
Absolutely, just like the TCP/IP stack, I understand we want to blur the concept of layers as we smoothen out the UX.
My thinking is more in-line with having one layer as a pre-req to another.
Ideally, users will be able to on-ramp directly to ecash for day-to-day spending, Lightning (as in L2) only if they're adamant on self-custody and the timechain for their larger stash and to avoid liquidity issues, but I think Lightning should be an if, not a must. That, or pretty much all Lightning custodians implement the likes of cashu instead.
Otherwise we end up with:
- What's the point of current Lightning custodians if cashu just does it better?
- Is their only advantage at that point the fact that there's less onboarding friction? (one less "layer" to go through)
Check this out, there are a few out there already:
https://github.com/cashubtc/awesome-cashu?tab=readme-ov-file#wallets
Love how the token string itself just turns into a widget on nostr clients!
Let's test this then...
cashuAeyJ0b2tlbiI6W3sibWludCI6Imh0dHBzOi8vbGVnZW5kLmxuYml0cy5jb20vY2FzaHUvYXBpL3YxL0FwdEROQUJOQlh2OGdwdXl3aHg2TlYiLCJwcm9vZnMiOlt7ImlkIjoiT3k3RnVGRGFzaHpvIiwiYW1vdW50IjoyLCJzZWNyZXQiOiJzNjF4bGdIS0FYYlhQdGIzL25JajFadzM3YlVPSEpmTTlsU0xuTHp2SDJ3PSIsIkMiOiIwMzk3MWVlOTIzYWQ5NDM0ZDYyZTA2NjVkYWE1NjhkOWZkZDYxNDUxZmU4Yzk2ODE5YzRhNjY4ZjcxNmUyNGQ2YWQiLCJzZWxlY3RlZCI6dHJ1ZX1dfV0sIm1lbW8iOiJOb3N0ciBlbWJlZGQgdGVzdCJ9
Ah, I just realised what you meant with different trust assumptions, gotcha!
So we generate tokens prior to going offline?
I could see that working I suppose...
Except if the sender gets online before the receiever and claims back, right?
Or am I missing something?
Has does the "offline payments" work exactly? I understand tokens are shareable, but I can't generate or claim without being online.
I don't think Primal lets you, as it uses a custodial wallet (or it did last I used it a couple months ago).
In case anyone is still confused about nuts or what it means and why we always talk about it (me today haha), here is my know-nothing dummy explanation and why this is a big deal IMO:
Cashu is an ecash protocol(is this correct?) created by nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg
People are calling them nuts because cashews are nuts... get it?
The terminology is irrelevant. They can be called tokens, air, water, chicken teriyaki.. it really doesn't matter! What matter is that this is a Layer 3 payment system that transfers tokens at the speed of light (or so I think). Lightning being layer 2, and bitcoin being layer 1.
The reason why this is a significant development is because now everyone has a cashu address. Thanks to amazing work by the legendary nostr:npub1mhcr4j594hsrnen594d7700n2t03n8gdx83zhxzculk6sh9nhwlq7uc226 , if you go to npub.cash you can see that you already have an address to receive these layer 3 tokens, which just happen to be easily redeemable into lightning. This means that any new person who joins nostr automatically has (custodial) layer 3 payment access, which can swap into layer 2 and into layer 1 and into fiat if need be.
I don't know any of the underlying mechanics of this, I am not a genius like nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg and what I have described could be incorrect, but it sure feels like this is roughly how things work.
Nuts are custodial, meaning a mint is holding your balance and can look up your npub to see if you have some. Once called upon, these nuts can be sent to another nutter (cashu wallet) or directly to a lightning address! This interoperability makes everyone a layer 2 user. All we need is a clever UX toggle / button / terminology to make it really obvious.
IF this were to be turned into a library that devs could include in their client code and "it just works", THEN it could be a game changer! No more directing people on how to get a wallet right as they join. They can experience the magic of bitcoin indirectly via layer 3 > layer 2 transfer all without knowing anything (as long as they can get on nostr).
In practice, this means anyone joining an audio nest, a zapstream, a flare.pub can automatically get paid. Yes, it's just tokens, and yes it's centralized and custodial, BUT, they see the value instantly and are only a click away from digging deeper. It's a STEPPING STONE that makes it significantly easier to get onboarded into the new paradigm.
I have not been this excited since the discovery of nostr itself! If I'm mistaken somehow, or don't understand things correctly, please let me know and forgive my dumbass 🤣 And if this means what I think it means, then let's make magic happen!
I've been looking into this and while I'll always seek to self-custody, what instantly struck me as a couple of amazing features were:
- The improvements in custody vs LN custody. I'd rather the coins be lost than stolen, this is a key difference! I'm growingly of the mind that custody has a place, but LN custody always seemed botched. eCash does it properly, your tokens are assigned to you and only you.
- Offline payments.
I'm sure there are more, but still looking into it.
I do wonder though, this effectively makes Cashu a layer 3 protocol - But having LN as a pre-requisite hop will hurt adoption. Can't wait to see direct on-chain to ecash ramps.
I got turned off from the franchise when the devs starts going down the always-online, heavy DRM'd route. Did they lighten up on latest entries or post-launch at all?
I should clarify - The UK bill as it was did not pass, but it may come back soon, and also waiting to see what other countries do based on this.
At the end of the day though, it shouldn't really matter provided we have open, decentralized, self-hostable-infrastructure, interoperable comms.
Regarding recommendations, I think we're very much in a transitional period. Right now, with the bill that's being looked at regarding encryption in the UK, I think it's a wait and see in terms of what precedent that will set for other countries as well.
Regardless of the border BS, SimpleX is an option though the lack of interoperability as a transition-ramp could be an issue, but personally I'd be more inclined towards Matrix as I've used it extensively in the past.
However, I think even those may full prey to issues that Mastodon is known for, not to mention legacy border issues.
Instead, I'm more interested in seeing Nostr as an option, for instance #0xchat is a good one but not as featureful yet.
Like I said, wait and see. As for right now, can't go wrong with #Matrix.
Lastly, I don't think it's just about being able for YOU to verify the code, but for it to be openly available and auditable. We can't expect everyone to verify source code throughout their entire life, but there are always those willing to do so, and a million eyes on pieces of code is better than no eyes at all - That's the base proposition with no compromises that I think there are no opposing arguments for, in this day and age.
You trust neither. You verify.
Example, another reason to not ise Signal besides their SIM requirement is their server infrastructure isn't open.
nostr will have to wait a bit.
About to become a #dad.
A new #bitcoin er joins the world.
https://s3.cointelegraph.com/uploads/2024-01/dfe37045-a198-4148-9da6-e9ed3945564c.jpg" class="embedded-image" loading="lazy">Imagine all that sly-roundabout-KYC.