Oddbean new post about login | logout Introducing Boardwalk Cash - the first dollar-based Cashu wallet built on top of #bitcoin and connected to #nostr. https://BoardwalkCash.com We now have stablecash on bitcoin - completely interoperable with the lightning network. Share your lightning address or invoice to receive dollars. Paste a lightning address or invoice to send dollars. Boardwalk Cash connects to any nostr client via NWC. Zap dollars on nostr apps like @primal or on Discord with our Zap Bot. This is a very early product and there are not many public mints, so use at your own risk. Yet, we’re excited to show some of what ecash and nostr can offer for advancing #bitcoin payments. https://m.primal.net/IGht.png
claim $0.10 by clicking this link... https://boardwalkcash.com/wallet?token=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
legend
What mint did you use? I am having trouble setting up.
try this link. https://wallet.cashu.me/?mint=https://stablenut.umint.cash
Thanks added. But I keep getting a "Invalid invoice" issue when I try paying a lightning invoice from @Alby ..CC @bob
just now tried and it worked for me..https://image.nostr.build/b4ece483be7831085c2500172b6509865957eb739b9815e21ed7681671094eab.png
Hey! Sorry to hear you are having trouble, feel free to send us a message to support@getalby.com , mention your email associated with your Alby account if you have one, and feel free to add screenshots and a detailed description of the problem -jp
incredible work, congratulations on the launch!
True If Big!!! 🎉 nostr:npub1aeh2zw4elewy5682lxc6xnlqzjnxksq303gwu2npfaxd49vmde6qcq4nwxnostr:@Derek Ross @PUBKEY
Do you add Bitcoin/ecash to my wallet if the price of Bitcoin goes down compared to the dollar and remove it if it goes up in price?
nope, you hold a USD token that has a stable USD price https://m.primal.net/IGmi.jpg
Thank you for that. But how is the USD token pegged to USD? It requires a lightning payment (Bitcoin) to enter/exit. So what happens if everyone enters now at $61k, and then price drops to $55k, and everyone attempts to exit?
Or is that the relationship between the mint and the exchange then?
I do not think this should be a trading vehicle, thus I suppose each mint can make up their own rules. However down the line with a liquid derivatives market one could potentially manage a more sophisticated mint. However answering to individuals need of a less volatile medium of exchange is a use case and should have a price. Thus the mint could simply transfer the exchange rate risk upon to the user, meaning if btc price moves, the cost of exiting would be upon the currency holder and the benefits equally goes to the mint for its longevity and sustainability. BTC price down -> user gets entry amount of sats BTC price up -> mint gets entry-exit sats. A model like this would also give interesting possibilities for mints as revenue vehicles.
I'm not asking because I want a trading vehicle but because I understand the risk. And if the risk is going to be unloaded onto the user, it isn't really removing the volatility. It's simply delaying the effect until exit. If it is going to be "stable" pegged to the USD, then there has to be a backing asset that moves with the USD. If the backing asset is Bitcoin, then there will need to be inflows/outflows with the price changes. And that's what is not really explained. If I buy $1 of this token ecash, how do I know I still have $1 a month from now. Granted, using any mint comes with risks and is a custodial solution, but a dollar peg seems to add more risks on top of that and I haven't seen how that risk is yet mitigated.
I didn’t mean to imply anything. I understand the complexity and there definately needs to be more clarity on mints. Interesting possibilities though. Aligning assumptions on use cases for ecash, ie type of user, amounts, timeframes, would maybe be a good start before evaluating risks.
Understood. And maybe you are correct. This is just a project to show what is possible. They may not entirely understand how it should work themselves. Maybe it's another way to wrap Bitcoin in a way that others find it easy to use and understand. Maybe being super self-custodial, I unfairly jump to how folks could get rugged. But that's one of the reasons I was drawn to Bitcoin to begin with.
Amazing. Good sir, no mints show with the USD filter. https://bitcoinmints.com/?show=cashu&units=usd
Try refreshing the browser once. We're updating it now. He's the Mint URL of the current public USD mint: https://stablenut.umint.cash
Can we please stop calling fiat stable?
not yet. am still accumulating. dxy is gonna tumble for a decade soon so just dont rush it pl pls pls.
Cuckbucks it is
Which NUT supports USD?
The Cashu v1 spec supports any unit and mint/melt method. Can be found in the mint/melt settings of the mint ie. https://github.com/cashubtc/nuts/blob/main/04.md#settings
Thanks for sharing
I guess my specific question is; What is the exact line of code(s) do I need to enter to support USD? Trying to do this for our own mints
1. Add a new active keyset with unit ‘usd’ 2. Convert amount in mint quote request to sats based on current exchange rate, then create invoice for that sat amount. 3. Convert sat from invoice to usd in melt quote request and return usd amount needed to pay the invoice. Happy to help if you want to get on a call
very cool.
🤯 My brain can't compute what stablecash on bitcoin even means. How is it possible? Is there a technical deepdive I can watch/listen to?
Found this: https://github.com/toneloc/stable-channels. Looks like a reasonable explanation.
404?
Hmm… not 404 for me. The github links to a thread of Twitter if you want to try there: https://x.com/tonklaus/status/1729567459579945017
here https://m.primal.net/IGmi.jpg
Awesome! So... users can trade USD ecash like this. When they want to convert the ecash back to bitcoin, they get the current market rate, correct?
Seems like it. They simply mint nuts at current btc exchange rate and redeem ecash at the current btc exchange rate. I'd like to know if the nuts themselves contain the metadata for what they are to make them all interoperable. Seems like a mint should be able to mint whatever you want and redeem whatever you want whether its eusd or eyen or ecorn.
Wait, you couldn't get the market rate. If the USD price of bitcoin goes down, the mint would go broke because people would be withdrawing more bitcoin than was deposited
Same for any exchange.
@bob estoy probando lo Pude recibir, pero no puedo enviar https://image.nostr.build/5fc60cdc5b7b6a6839d9cabb90a9bc5cf6e54a82925d20eb4c69e5cf013e7fab.jpg https://image.nostr.build/6dbcb107a86a47d995b46f62278f9aa7f66a6919c5e2fc60d065ea427b9f51a1.jpg nostr:nevent1qqs0rk7rltsx45jwyls53fs2dcla5vgcwuh7p4zsx7lx9yjf038thecpz3mhxue69uhhyetvv9ujuerpd46hxtnfdupzps6llrp5q3ylp4527xhvfpztk39fczuvrh20f480h3j7zgpe5dy2qvzqqqqqqywqgydh
Fascinating! How difficult would it be to either add other national currencies (say the Mexican peso or the Japanese yen)? As someone else said in the comments, they would want their grandmother to be able to use something like this, so having sats dominated in the local currency would make that way easier.
You may have already answered this - but what mint can I use? There does not seem to be any USD-denominated ones on here https://bitcoinmints.com/?show=cashu&units=usd
Found one! https://stablenut.umint.cash
Here is the @Alby error I am getting @bob .. any ideas or suggestions please?https://m.primal.net/IGxk.png
Just a note the say that won work XD Its just another trap https://void.cat/d/65r6yM2wMiyJNePPexbaYc.webp
The Zap Bot isn’t working :(
