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20 sats \ 0 replies \ @calle 28 May 2024 \ parent \ on: CashApp has inactive LNAddress endpoints with npubs pregenerated for EVERY user devs
yup 🤝
I love this and I'm happy to say that we have almost everything you need to build this.
NUT-10 specifies what scripts in general should look like: https://github.com/cashubtc/nuts/blob/main/10.md
NUT-11 is an example of a script. You can probably copy most of it (of the code) and replace relevant parts with your DLC ECC operations instead of the schnorr signature check. That's the easiest I can think of, maybe there are better approaches.
definitely join our discord though: https://discord.gg/rTGxfneh
This is ridiculous, we deserve better enemies :(
Your golden days are long over Justin, you peaked when you said that Blockstream was controlled by lizard people 🤣
Happy to give you a rundown:
- Ecash is a technique to create digital money invented in the 80s by David Chaum
- It was the very first concept of cryptocurrency (25 years before Bitcoin)
- It's a bearer assets with amazing privacy properties, and in my opinion, it's the thing that is closest to physical cash in the digital realm
- Ecash is not stored in a database or a blockchain. The money is represented as digital data that you (the user) store in your wallet. It is not like Bitcoin, where you store keys to move assets on a blockchain.
- Historically, it had nothing to do with Bitcoin until some projects like Cashu started building it on top of Bitcoin.
- In its current form, it allows us to build custodial Bitcoin applications with very interesting properties: amazing privacy, censorship resistant, and programmable to name a few.
- Cashu is a protocol that describes how to build these things. All Cashu apps are interoperable.
- Ecash mints are centralized: they are service providers (that can be single server or a federation of a handful) – Ecash is not decentralized!
- But: we are lowering the bar of running mints so that many of these can be deployed, either for the purpose of serving a community, or for a specific website, app, whatever you can think of.
IMPORTANT: If you get ecash from a mint in exchange for Bitcoin, the Bitcoin are not in your control anymore. That means the provider can rug you! Be 150% aware of this and only use it accordingly (very small amounts, for daily spending, etc).
Shoot if you have more questions and check out https://cashu.space if you want to learn more.
p.s reposting here since this was removed from /ecash sub.
Why was it removed from
/ecash? This is clearly a legit ecash discussion.nope, that's exactly the ecash magic! the mint never sees the ecash until it's actually spent. that means, when you restore unspent ecash (even though it is in cooperation with the mint) the mint does not know which token you're restoring.
you can imagine it a bit like as if the mint only has the encrypted token and you are the only one who can decrypt it. after decryption, the mint can't know what encrypted token it corresponded to.
It's a seed phrase like with Bitcoin, it can be used to regenerate the ecash you might have lost. The only difference is that you need the cooperation of the mint to restore your ecash in the process. Your privacy still remains intact though, the mint just re-issues you what it already issued before.
You can automate bank runs: https://gist.github.com/callebtc/ed5228d1d8cbaade0104db5d1cf63939
I have an experimental PoL server running already for the testnut mint. It's going to take a while until wallets can adopt this, there's still a ton of possible optimizations to make this be effortless. But the sheer existence of a possibility to audit ecash mints is already very bullish to me.
1040 sats \ 0 replies \ @calle 23 Jan 2024 \ parent \ on: Fedimint and Cashu ecash are gift cards ecash
I'm trying to fix that: https://gist.github.com/callebtc/ed5228d1d8cbaade0104db5d1cf63939
Very thoughtful summary. I mostly agree with everything you've said.
One note on gift cards: in some European countries, gift cards can become "e-money" and must then be regulated as such if (I'm quoting from memory) their purpose and utility becomes "too universal", i.e. you can doo too many things with them. I've heard (I might be completely wrong, didn't verify) that Amazon gift cards are regulated as e-money in Sweden because of this: you can buy too much different stuff with it and people started using it for a money substitute.
Insane if you ask me.
Anyway, awesome post. Have a zap.