Oddbean new post about login | logout is the cashu mint also able to mint more tokens than it can back with real bitcoin? and if so, could you please explain the reasoning behind it? thanks!
Unless there's something in the code that limits this, there's no reason why it couldn't. I'm sure I saw an approach to a proof of reserves for a mint somewhere.
so i dont get it at all why we would create a system like that. this screams exit scam and rug pull so loud that even SBF can hear it in his cell...
not really. it's a solution to improve scaling and privacy. it makes sense but there are tradeoffs.
why not really? it is fiat money, is that cool now?
It's a custodial scaling solution. We strongly embrace legacy custody scaling solutions today. Most people use them. You're using one. These legacy custody solutions have zero privacy and zero censorship resistance. eCash is a better custodial solution. Strong privacy and full censorship resistance. Nobody is claiming it's non-custodial. It has its place and is massive improvement to what most people use today, including yourself.