Oddbean new post about login | logout Ecash is a shitcoin
I think better than liquid (shitcoin from blockstream)...
Liquid has fewer risks IMHO. I don't use it, but some people use it to dca for cheap before consolidating to L1. It's probably also better privacy than coinjoin.
I can compare Liquid only to Ecash. But I think Ecash is better because you have decentralized mints, compare to liquid (only blockstream, the rest are smoking mirrors). To dca better use real bitcoin (LN) and then convert to L1. From the beginning, you can control Satoshi and the fees are low. Right now, even the boltz don't offer conversion from Liquid to "on chain". I heard you can do this in shitcoin wallet aqua. They also offer tether or other shitcoins, but I don't install shitcoin wallets. Also, privacy is better on Ecash because you need to use some exchanges to convert shitcoin from blockstream to L1. On Ecash you just withdraw without middle man. My layers: 1 - Bitcoin 2 - LN 3 - eCash 4 - Fedimint 5 - shitcoins https://primal.net/e/note1wqwgff4urqlup0segjhd7a5jq6hc2tqedv27txepk7zjefkcqt5s2g8td9
hmmm that's really saying something, I'll need to remove my optimist's lens and take another look. In Tokyo, I found npub1cd0l3s6qgj0s6690rtkys39mgj5upwxpm4856nhmce0pyqu6xj9qh7xlvx 's presentation of $Prism to be one of the more compelling. He made a great argument for scaling using Cashu. Let the debate begin 👀 #build
Totally agree! There are other scaling and privacy options. But that's me. 😎
Was expecting the “… change my mind” :-) Not looked into it enough - not been clear on the use case it solves.
That's 18 months of thinking about ecash, and trying my hardest to see it's relevance for widespread payments.
Offline asynchronous payments. I can dm you ecash via nostr (or whatever) when you are offline. I can sign it with your public key and send it in cleartext. You can redeem it when you're back online. I could put it on a thumb drive and hand it to you in person. Can't with lightning.
What’s the benefit over trusting my peer with a bolt 12 hodl invoice?
Besides being available now, I would also like to know this. One idea I'm thinking about is whether as a bearer instrument it is possible to "relieve" oneself of the cash, for it to be passed around as "money" without having to use the mint to destroy/issue it. I can, of course, sign it to you with your pubkey, but that doesn't prevent me from cashing it at the mint (it only prevents others from doing so). I can use the mint to redeem and reissue it to you, but then we're still using the mint. So it would require me to "prove" I've never opened an encrypted thing, without the help of the mint (and offline, for that matter). Maybe another use case is a temporary ID inside a virtual environment. You pay to "enter" and get a token to use inside that environment. Cound be porn, gambling, games, while giving you privacy. Or it could be something to make you honest or civil in a particular environment, like a bond. It's also easy to federate, so it may be better than lightning for quorum decisions or voting, with anonymity. I think it may come down to being used as coinjoin-type obfuscation, or in another way to evade antiquated regulations or bypass legal technicalities.
But you can zap someone with Lightning when they are offline too, no? I wake up and have new zaps in my wallet. I didnt have to accept them.
He's talking about the node. If the node is out of reach for some reason he can give you the token and you will redeem it when it's back up. Example you go to a store to pay, the store LN service is down or the store has no net, the store might accept the ecash and redeem it when it gets online again.
GM nostr:nevent1qqsy06gr95p7mvnu0uvsz35zm0lkggapme90xmuk8rxepxwfdqkvrpsppemhxue69uhkummn9ekx7mp0qgsvrlrhw86l5sv06wkyjgs6rrcekskvk7nx8k50qn9m7mqgeqxjpvgrqsqqqqqpxwd7y8