Oddbean new post about login | logout - Proof of work was invented to prevent spam. - Satoshi used PoW to rate-limit block production. - Blocks create scarce Satoshis. - Cashu puts Satoshis into bearer ecash tokens. - KeyChat (privacy messenger) uses Cashu tokens as stamps to prevent spam. Full circle @adam3us.
Last post: July 2023 😅
He'll come back
haha get it, back, haha lol lmfao rofl
proof of circ
Most of the spam prevention I keep seeing is going to send us straight to modern SMTP where your emails enter a black hole unless you use Google. nostr:nevent1qvzqqqqqqypzq5xeflpdskqvdq4swxj59793uvdzqzc9pzatjk3nhmcg2h0js8trqqsvfq9wv8ttncn2cewxw0yc8ee60hfpdw6kwcr8p26lrk86s0n6y6cc3pva0
Cashu does not put satoshis INTO bearer ecash tokens. It issues an independent token which on its own is incompatible with every other cashu mint doing the same. A mint itself takes possession of the sats, and offers a service to - give you tokens for sats - swap tokens for fresh tokens - accept requests to pay bolt11 lightning invoices denominated in satoshis and provides an offer exchange rate - may fullfill payment of aforementioned invoices through bridging to lightning network. When you send satoshis to a cashu mint, you are effectively selling your sats for tokens under the hope that you can later get some of that value back. nostr:nevent1qqsvfq9wv8ttncn2cewxw0yc8ee60hfpdw6kwcr8p26lrk86s0n6y6cpz9mhxue69uhkummnw3ezuamfdejj7q3q2rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sxpqqqqqqzx2nnyk
Idk seems okay for privacy and a small amount. But ecash ain’t ₿. Pretty cool stuff.
We're talking snailmail postage stamp utility tokens here. USPS for example prints some unknown quantity of different kinds of stamps each year & sells them for a fixed USD price. Some kinds hold value more than others. We don't know their supply issuance. It's only meant to require a sizeable amount to purchase if you're a spammer. It's not really meant to be money, but nothing stops a person from valuing it as such I guess
I feel like I’m missing something here. Are you saying it serves a purpose to get Sats from one place to another but isn’t a replacement?
No, that's as absurd as pasting dollars on a paper envelope to pay the post office to send it.
Are you saying it’s worthless? Left side of bell curve here
I like the idea of PoW to GET RID OF REPLY GUYS. Thern again I just want to rather pay for a relay.
How we can get rid of reply guys nostr:nevent1qqsvfq9wv8ttncn2cewxw0yc8ee60hfpdw6kwcr8p26lrk86s0n6y6cpremhxue69uhkummnw3ez6ur4vgh8wetvd3hhyer9wghxuet59upzq5xeflpdskqvdq4swxj59793uvdzqzc9pzatjk3nhmcg2h0js8trqvzqqqqqqyn2rrj7
nostr:nevent1qqsvfq9wv8ttncn2cewxw0yc8ee60hfpdw6kwcr8p26lrk86s0n6y6cpz4mhxue69uhkummnw3ezummcw3ezuer9wchsygzsm98u9kzcp35zkpc62shck8335gqtq5yt4w26xwl0pp2a72qavvpsgqqqqqqsvdkycv
