Oddbean new post about login | logout nutz
Ecash is not a “shitcoin.” It’s a way to use Bitcoin with near perfect privacy, but with tradeoffs. @calle 👁️⚡👁️ explains this in detail on @Titcoin (which is a podcast, not a shitcoin 😉): https://youtu.be/ipPqYIA7JkM
I like ecash too but it’s true it’s a shitcoin. Ask @calle 👁️⚡👁️ he’ll be the first to tell you it’s a shitcoin The nice thing is it’s a shitcoin without a blockchain which means it’s the fastest and most private shitcoin
A token not having it's own chain is literally the "shit" definition in "coin"
technically they are sats just high trust
yeah, the only good thing a shitcoin can possibly do is not having a chain
what's trust?
risk of being rugged
ah yeah, I don't do that stuff. Something something about trustless, permissionless etc etc
They are not sats, mints do not need to be backed by sats in order for the mint operator to send some one ecash, nuts or whatever units the mint is issuing. Technically the ecash tokens are in a separate system that is not dependent on Bitcoin at all. Ecash can be generated within a mint that has 0 sats backing it. That mint just wouldn’t be interoperable with other mints and or lightning.
most shitcoin have a chain so they can scam. They dont have any of the properties of bitcoin, but in a cargo-cult operation try to emulate the less scalable part of it. Not having a chain to simulate to be a bit uncensorable like bitcoin unless being censored and rug is a good thing, theres only on timechain needed.
I disagree. Most shitcoins are smart contracts on ETH or some other 3rd party chain. That's why they should be called shit tokens and not coins.
I agree but they dont merit such semantic distinction from my point of view as they are irrelevant from a technical point of view I'd call them indistictively shitcoins and take them in the same trashbin
opinion