Oddbean new post about login | logout What is your opinion about the ability for the Mint to issue more eCash tokens than they can back with real Bitcoin?
It’s a trade off that users should be aware of! The permission-less nature of mints should breed a competitive landscape that punishes those who fractionally reserve their mints and rewards those who don’t.
How can users find out who runs a fractional reserve before they get rug pulled / exit scammed?
Seems like reputable mints should be able to offer cryptographic verification of full reserves. If I needed to use one and one service offered that verification while another didn’t that would be the choice easy.
i agree, better would be mandatory proof of funds. why should we get away from "don't trust, verify"?
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Good question, good answer, I'm bullish on ecash.