I have searched extensively and surprisingly failed to find even a discussion on the matter. Any hints?
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20 sats \ 2 replies \ @Scoresby 4 Aug
There was this idea of stablenuts and then I thought Boardwalk Cash was a stable coin on ecash. Here's the github for Boardwalk Cash.
On lightning there is the idea of stablesats.
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0 sats \ 0 replies \ @didiplaywell OP 4 Aug
Thank you!! Will check them! :)
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0 sats \ 0 replies \ @nitter 4 Aug bot
https://xcancel.com/CashuBTC/status/1711676159639929135
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20 sats \ 3 replies \ @OT 4 Aug
I remember seeing that one if the projects has it.
Not sure why you would want it though. It would be pretty risky and likely not backed by anything.
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0 sats \ 2 replies \ @didiplaywell OP 4 Aug
Please, point me to the project you're referring to :)
The reason I'm leaning toward a cashu-like protocol is that I have been developing a stablecoin protocol, and one of my conclusions is that such a service is unavoidably custodial, by definition.
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20 sats \ 1 reply \ @OT 4 Aug
They are custodial whether its a stablecoin or Bitcoins.
I'll try find it.
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0 sats \ 0 replies \ @didiplaywell OP 4 Aug
Thank you! :)
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20 sats \ 3 replies \ @standard_sats 4 Aug
Yes
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0 sats \ 2 replies \ @didiplaywell OP 4 Aug
Thank you for your answer :)
Would you mind to elaborate? I have a protocol for a stablecoin, and I have long been leveraging platforms, increasingly growing convinced that a protocol like cashu is optimal, but unsure on how to proceed.
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20 sats \ 1 reply \ @standard_sats 5 Aug
We have built fiat channels very early. In the end of 2021. Galoy released their product around the same date.
Ecash dollars may exist pretty much similarly and may do even benefit from proof of reserve schemes. But overall Fiat channels was the best tech because it just worked on LN, that's it.
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0 sats \ 0 replies \ @didiplaywell OP 5 Aug
So ecash dollars backed by bitcoin still do not exist but are possible. Interesting.
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20 sats \ 6 replies \ @96c0b276a3 5 Aug
You can make any token you want, there's still counterparty risk with the mint. Even the btc denominated tokens are really stablecoins backed by bitcoin.
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20 sats \ 1 reply \ @telcobert 5 Aug
With the mint it's actually 'issuer risk'. Small but important difference.
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0 sats \ 0 replies \ @96c0b276a3 5 Aug
Is the issuer not a counterparty?
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0 sats \ 3 replies \ @didiplaywell OP 5 Aug
Thank you both @96c0b276a3 and @telcobert for your observations.
@telcobert would you mind to elaborate on the 'issuer risk' detail?
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20 sats \ 2 replies \ @telcobert 6 Aug
They are both 'credit risks'.
Counterparty risk refers to the other party of a contract (e.g. delivery of rice or oil),
Issuer risk to the issuer of a financial instrument (e.g. bond or bill of exchange).
Counterparty risk is significantly greater in terms of complexity, volatility, and contagion.
– Bitcoin M0 (commodity money) has none of these two risks (there are others).
– Contract parties paying with eCash settles C/P risk (Cashu and Fedimint can do)
– Issuer risk (slow/fast rug) must be eliminated on the mint level (needs Bitcredit Protocol).
More about this in a few weeks. Stay tuned.
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0 sats \ 0 replies \ @didiplaywell OP 6 Aug
Hey, just read about your initiative. Where do it differs from cashu? (if?)
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0 sats \ 0 replies \ @didiplaywell OP 6 Aug
Please and thank you!
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0 sats \ 1 reply \ @RamPl 5 Aug outlawed
stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.