It's very early days for eCash on top of bitcoin, but it is showing a lot of promise. The beauty of bitcoin is that it is opt-in. If you don't want to use eCash you don't have to. I think it is misguided to write eCash off while it's still in the cradle.

https://www.tftc.io/bitcoin-fixes-ecash/


Onward 🫡


What is your opinion about the ability for the Mint to issue more eCash tokens than they can back with real Bitcoin?


Great post 👍


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.


Bullish.


How can users find out who runs a fractional reserve before they get rug pulled / exit scammed?


GOOD NOTE 🤙


Really liked this article. I struggle with the trade offs on all the mints.


I get that it has a lot of promise but it is dangerous … my problem is that people are marketing it is as the next big thing. Because it’s cool and it’s the easy way of scaling but it will be a shitcoin on top of Bitcoin… Here is my perspective, I studied Celsius, Blockfi, Binance and although I was interested in them I didn’t touch them because I could see a very easy way of how it was going to go wrong, I see the same on e cash. In a perfect world it is amazing but it does not hold out with bad actors, human greed, and perverse incentives. And additionally it will directly impact Bitcoin if it fails. I would like to see if the programmers building it if in 20 years when they are tired of e cash and don’t want to work on it anymore and it blows up and they have the main players in e cash that have centralised by offering amazing deals and yield on top of Bitcoin that moved the poor people to their platform and this people get rugged how they are going to feel on the thing they built, or if they are just going to say it is the bad actors fault and it has nothing to do with them. I will totally support e cash if it is mathematically impossible to inflate the e cash. Until then I don’t trust it.


Mints are for NFTs and central banks. Not Bitcoin.


Keychat is using bitcoin ecash as message stamp. https://www.keychat.io/ https://image.nostr.build/5cd0c55d1f032fdcadb20c5246d00511f0bfba12cad4067ce3fa04bf8e09ae79.jpg


Coffee on me ☕


You're looking at it from the wrong perspective.

Ecash is custodial tech, and will (probably) always have the risk of inflation, rugpull and fractional reserve.

It's not bitcoin scaling. It's not a bitcoin replacement.

It's a replacement for the shitty custodial relationships that exist TODAY!

Everyone that is involved with developing any technology that is useful knows, that technology will be used for legitimate use cases AND abused for criminal activity.

Stop making developers researchers and inventors responsible for crimes commited using their technology, it makes no sense


Good question, good answer, I'm bullish on ecash.


Mints = trusted 3rd parties are security holes.

However, anything not truly decentralised, and bitcoin is the only truly decentralised coin, will have trusted security holes. These are called shitcoins and shitcoins will have a place  for buying coffee and groceries, as long as  the risks are understood and accepted. Just the way it's going to be. LN(non custodial wallets) will battle to compete IMO, under bitcoin fee pressure LN failed.


Let's go 🚀


waiting for that robosats to my mint and I can withdraw from my mint.


Onward 🫡


how? you should keep looking into mints.


how is it able to be fractionally reserved? https://bitcoinmints.com/


by issuing more ecash than in the balance, and lying about the numbers


Thx