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other thought....interesting interplay potential with LN here...
MBI UTXOs could theoretically be used in submarine swaps (like Lightning Loop). A user holding an MBI could use their keys to sign a hash time-locked contract (HTLC) transaction that swaps the MBI's on-chain value for inbound Lightning capacity, essentially converting the bearer instrument directly into off-chain Lightning balance without waiting for a standard settlement.
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Really interesting. I will admit that I'm not an expert in either this proposal nor ecash (fedimint), but this seems to tick most of the boxes of what ecash offers but everything remains in bitcoin and doesn't need outside mints.
Most interestingly is the timing....wonder whats going to happen with ecash.com hard fork if bitcoin can do this native?