Oddbean new post about | logout
▲ ▼
GLACA | 7 months ago (raw) | root | parent | reply | flag 
 So to import an existing Nostr profile you need set up a new wallet. Correct? How about esats? How do you convert them to sats? Where can I read more about this mechanism?
▲ ▼
OpenSecret | 7 months ago (raw) | root | parent | reply | flag +1 
 For existing wallets, it might not walk through the flow but it's still there in the settings.

For federation swaps, there's a new swap button when there's sats next to your fedimint balance.
▲ ▼
GLACA | 7 months ago (raw) | root | parent | reply | flag 
 So the goal of federations is to be able to start without lightning 100K initial transfer? Where can I read about federations and nostr?
▲ ▼
. | 7 months ago (raw) | root | parent | reply | flag +1 
 Federations give users better protection from single mint operators rugging users. Fedi is multi party custodial ecash. Cashu is single party custody ecash. Both interact with bitcoin via lightning. Lightning with nostr.
▲ ▼
GLACA | 7 months ago (raw) | root | parent | reply | flag 
 ecash is like a protocol build on top of bitcoin that connects via lightning?
▲ ▼
. | 7 months ago (raw) | root | parent | reply | flag +1 
 Yes,

Chaumian ecash is an old version of electronic ecash for dollars that didn't work out.

"eCash", "eNuts", "eStats" are all slang for versions of chaumian blinded mints that now run on top of lightning. Fedi is one protocol, cashu is another, similar ideas, different trade offs.

Send bitcoin to a mint via lightning, get issued a near perfect private bitcoin iou you can spend and send out of bound redeemable by the mint for sats.