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 No, they don’t have to rug everyone, the guardians/custodians just create more ecash tokens than there’s bitcoin backing it and the last one with the bag gets rugged as others can cash out 

This is my understanding 
 Thats why mints are auditable 
 even if ecash mints were aduitable, it's not going to retroactively protect anyone. even if you can see who stole the cookie from the cookie jar, the cookie's still fucking gone. nothing stops them from stealing the cookies in the first place. ecash is a regression. 
 Ok 
 I thoight the mints have blind signatures so they wouldn't know who to steal from in the first place, right?  
 they can steal from everyone and nobody would notice until people decided to withdraw their money. they could all be doing fractional reserve right now. it's the same thing as fractional reserve banking and it's similar to an exit scam. it circumvents the 21 million coin cap. 
 Auditable doesn’t mean they have to audit and the banks might not let you audit it that easily either (don’t know if that’s even possible for the users)

I’m not sure what effects one would  have in terms of privacy when the mints are auditable