lot's of excitement about Pablo's invention and I'm excited too!
quick reality check: Cashu is an improvement of custodial Bitcoin. Beware of the custodial risk you're taking. Don't trust unknown random mints. You have the option to use only a single mint that you trust. you have the option to use WoS or Alby. you can use fedimint for a more resilient ecash setup. you can use liquid. you can use non-custodial Lightning on your phone. or you can run a node on your own server. it's all about the fact that, with Bitcoin, you do have the choice.
be careful. use custodians with great caution. make your choices consciously. not your keys, not your coins. self-custody is always king.
🥜🫡
The key take away here is that we have a plethora of choices at our disposal now and we should use whichever works for us.
but also, do not mistake custodial solutions for Bitcoin. I think that is very important to keep communicating to people.
Bitcoin gives you the option of choosing, but only if you are using Bitcoin and not just custodial services.
there will be honest actors creating amazing solutions, and there will be grifters trying to play people for gains. the former must differentiate from the latter by being transparent about their specs.
This kind of honesty is why cashu is awesome!
Really bugs me how some people are picking fights with ecash pretending this is some dirty secret that ecash devs are hiding, considering how up front you are (and have always been) about it.
Is someone working on an Umbrel app to spin up a Cashu mint with one click?
I'm not convinced Cashu is an improvement on custodial Bitcoin - especially where custodians are known and trusted. The stated risks prevent me from trying it unfortunately.
The lack of trust leads to centralization. This is a space that businesses will eventually capture.
The difference is that the current system doesn’t allow for choice. Custody isn’t evil, denying choice is.
Sound reminder. Individual use of bitcoin is a steady progression toward self sovereignty
Any literature you would recommend to understand better what is Pablo's invention? And also some about Cashu, ecash, Fedimint? I'm a bit lost 😅
cashu.space > resources
sorry, docs.cashu.space > resources
Strike is VERY unsecure. I learned that to the tune of 3,000,000 sats.
I'm not sure of how everything works but one thing I've been wondering is about mint incentive structures. Do they have incentives to behave well?
Why would a mint rug it's users? Why not? Isn't there's great economic incentive for them to do so?
Minibits is one exception I can think of. Why would Minibits' mint rug us? They wouldn't, because they make a great cashu app and rugging us would destroy their reputation and their app's userbase.
I am glad to hear some proper caution
nostr:nevent1qqsg459ejlpwz8qyqexg96j8hfmc2k0hayc9htrqvth4stnpq47q6jgpzpmhxue69uhkummnw3ezumt0d5hsygzsm98u9kzcp35zkpc62shck8335gqtq5yt4w26xwl0pp2a72qavvpsgqqqqqqs7h0jqy
Oddbean new post about login | logout