Oddbean new post about login | logout ecash (both cashu and fedimint) is by far what i’m most excited about flying back from bitcoin atlantis chaumium ecash failed in the 80s bc we tried to build it on top of fiat and tradfi banks. on top of bitcoin and lightning it has the potential to absolutely crush scaling bitcoin payments and user privacy nostr:note1aldqtfxqy9rtfds7ckrcg3qe46zxwxyfkvtzxgddhsrpeld0ka3ssw76qg
Okay so ecash is not XEC or slang for bitcoin lightening zaps? Where braindump?
i actually don’t know where best to point you. @calle 👁️⚡👁️ any ideas?
Here are some useful links: https://docs.cashu.space/resources/learn
I understand it is a custodial node (mint) with on-chain and lightning capabilities. Most use lightning for in/out. But when you put BTC funds into the mint, you are given eCash tokens. In the mints I'm in, they appear to be a 1 to 1 equivalent of sats. I can transfer the eCash tokens to anyone in the mint privately. I can transfer those to another mint using a mint swap. I can transfer to my lightning node with an invoice. I believe I saw someone working on on-chain abilities but can't remember who or where. I'll ship you some nuts so you can play with it.
Thanks 😁 I will have to explore this!
I've been playing with @eNuts ⚡️🌰. You can claim that token in eNuts which will connect you to the mint and give you a backup seed. Available on iOS and Android.
Remember, if you were using lightning on your own, you would have to either be running your own node or be using another. Each mint runs its own, and you can connect to several. When you send eCash to another, they become a "member" of that mint. They can swap the eCash for another mint or just hold/use the eCash there. Swapping mints requires a lightning transaction. So generally, it begins to simplify the process more for the end user. Still a little technical. But it's getting easier.
😵💫 I can't see which sats are ecash protocol vs xec token vs btc-lightening in my wallet! Ha ha ha I know that's wrong. This is like when banks issued their own private currencies. https://daily.jstor.org/banks-own-private-currencies-in-19th-century-america/
Pretty much. Everyone can issue their own now and can build trust in their community. Love it!
I have now moved LN sats between wallets. Still can't see how to get off L2 and move those Sats to L1 Bitcoin with low fees.
If you are okay with KYC you can lightninng to Strike and then move to on-chain at zero fees. Or, at least, I believe you have to KYC. https://m.primal.net/HqYg.png
Check your DMs. Should be there.
LETS FUCKING GO HONG, SOUNDS LIKE A PRODUCTIVE TRIP 🫡
