Oddbean new post about login | logout The tradeoff is it improves privacy and you can do things like give everyone on nostr a wallet without even requiring people to sign up. You can also do offline payments.
So does this mean "we all" centralize around the same mint if everyone has a default Cashu address from npub.cash?
Right now I think everyone on npub.cash uses the minibits mint. Npub.cash clearly displays a warning that it’s just a proof of concept though.
Thanks. Would it be possible for users to one day use their own mints or other mints with npub.cash?
Yes. this is coming soon. You will have an option to pick your fav. mint.
No, there are lots of mints. You can send your nuts from one mint to any mint via lightning transaction, even to a mint you own. Cashu wallets let you have many mints with separate balances. You can use @Minibits + Amethyst and that uses the minibits mint. npub.cash is one solution primarly for ios users and desktop users as @eNuts ⚡️🌰 doesn't have the same ln to ecash bridge that minibits has.
I have used eNuts. Maybe I need to look at minibits to understand this bridge that you're talking about, because with eNuts I have cashed out from nuts to my lightning node with minimal effort.
enuts also has a sweet "swap mint" function under mint management that allows you to move funds to a different mint in enuts. All ecash can be "melted" to your self custodial lightning wallet if you choose. minibits functions as a custodial lightning wallet where the balance is kept as ecash - the ln bridge is both ways you can receive ln payments as ecash you can pay ln invoices from ecash balance your note can get zapped to your minibits address if it is in your ln address of your nostr profile and it automatically arrives in minibits wallet as ecash you can zap in nostr client and approve automtically in minibits, two clicks Amethyst also has slick redemtion of ecash tokens that are dm'd via nostr contacts as you can send ecash to any npub via minibits
Lots of good information here. Thanks.
The most important question is always ultimately "who controls the keys to the lightning channel that holds the sats backing the ecash tokens?" I know you know this, but just inserting this here for others who may not, and maybe that's part of what you were getting at with your initial post in this thread. Cashu is useful but it is 100% ruggable by whoever runs the node that backs the mint. People have to understand this.
100%. I'm starting to view it as a privacy layer for temporary sat storage. I don't know if I'd feel comfortable using it for large zaps either. As @kidwarp mentioned in this thread somewhere, you get in and you get out. Which, if you're doing that, telling people to constantly move their sats from nuts to sats, then it becomes extra steps that need to be done and not a good user experience for noobs. We're just replacing one custodian with another on a temporary basis in the same of privacy.