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188 sats \ 7 replies \ @k00b 26 May \ on: [Cashu Update] The operator has no access to the private keys of the mint. bitcoin bitcoin_beginners

tldr

  1. meaningful improvement over rug pull incentives
  2. cashu mints are still money transmitters
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2 sats \ 4 replies \ @BlokchainB 26 May

A question is why no one is adopting this on an institutional scale. I heard on a podcast that the applied cryptology ecash is using is lacking Proofs.

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94 sats \ 2 replies \ @teemupleb 26 May

Because Cashu mints could be considered money transmitters?

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2 sats \ 1 reply \ @BlokchainB 26 May

Many businesses get these licenses it’s not impossible to do.

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102 sats \ 0 replies \ @teemupleb 26 May

Too much compliance costs and hassles and overhead, I assume

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79 sats \ 0 replies \ @k00b 26 May

If you can going to comply with BSA/MTL, there's not much point in using ecash as it defeats the purpose (privacy).

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2 sats \ 1 reply \ @npub1zapsats 26 May

How is the SN internal wallet not considered a MT

Not a criticism and k00b obviously researched this ad infinitum

I was just quickly back of a postage stamp research and there is a gift card loophole

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86 sats \ 0 replies \ @k00b 26 May

You mean reward sats? Mainly, it's legally not your money until you withdraw it. Also, it's our money we're sending you - not money we sent you on someone else's behalf.

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