Oddbean new post about login | logout My view is very simple: not your keys, not your bitcoin. Calling these e-cash tokens self custodial is the biggest cope I've seen. If you keep up with @shocknet_justin and @Car you'll get a good idea of where I'm coming from.
Only one vocal person says its self-custodial. 😐 And he's wrong about it.
my stance on ecash is on the latest ep on SNL, @dk https://www.youtube.com/watch?v=OyCicFzd3SA&list=PLKnVil22cJNzDABNpAQ2JecRzU3SUtV8V frankly I am tired of talking about it atp, let the builders build
Cool, I’ll catch up on this, Car, thanks!
its just one mans opinion, can change over time
great philosophy: form opinions, but be willing to change over time
also typical modern emasculated western male noncommittal conformist drivel. the kind of shit that's safe to say at all of the "gatherings".
Strong opinion loosly held.
Hope @captain ☦️ compromised or @Car will discuss ecash and their concerns in public with me at Nashville. I am running the Bitcoin Veterans workshops and would be happy to have an open forum discussion. We can get as technical as you'd like.
Thanks, I’m following both of them now, too. I’ve always had the assumption that a payment for a good/service always has counter-party risk with whoever you’re exchanging with. So I would never consider eCash self-custodial, but I’ve always thought of it more like a simplified UX involving an additional party for an already somewhat risky transaction. You could give me 10,000 sats from cold storage and I might still run away with the coffee we had agreed I’d hand over in exchange.
This rationale highlights my issues with it Custody of small amounts (credit) is inevitable in an economic sense, but ECash isn't additive to that at all, while ECashers position them as synonymous despite solving the wrong problems inhibiting broader adoption of Bitcoin as a MoE It's not more programmable than any other database, it's actually much worse because of the the abstraction from the underlying asset The privacy benefits are farcical, particularly in the context of small nodes, and treating it as a new payment spec is deleterious to interoperability If the goal is to have shared friends and family nodes for Bitcoin as a MoE, then Lightning.Pub is superior to mints in every way
Sir please buy my NO-Cash Notekens