pull down to refresh
I do not like to use cashu but I do not consider it a threat to bitcoin.
Is just a gift card for me that I avoid it if I can.
The big problem here is that Calle is pushing it like is the ultimate solution to use bitcoin with, when is not.
And that's why many people fall for it and we have this boom in public cashu mints.
IMHO cashu mints should be used more in a private way and in small closed communities (example Cuba) where regular LN rails do not work well.
Calle is pushing it like is the ultimate solution
[..]
should be used more in a private way and in small closed communities where regular LN rails do not work well.
Yes. The marketing is cringe.
In theory, with the new NUT-30 spec[1] you could have an end-to-end solution that doesn't require any liveness except swapping in/out and some time not too long post-receive.
Unfortunately the tradeoff to remove the liveness is still IOU issuance / custody and centralization. Across a non-liveness solutions risk scale of MtGox to (CTV-flavored) Ark, it maybe beats WBTC but it'd already be inferior to LBTC, which is not an extremely high bar.
not sure whether anyone is implementing it, and the spec itself is still rough. ↩
I am quite OK with the custodial thing of cashu.
As I said, I think cashu should be used in a closed community, where certain trust exist with the "bank / mint".
For example, a local merchant running his cashu mint. Local customers trust him and they can get some advantages using his mint.
If they want to use the sats from that mint "outside" of the community, they can use them anytime, paying regular LN invoices to anybody. That will put pressure on the merchant's mint LN node. But using the tokens with the merchant and between other customers or even more merchants it doesn't affect the liquidity of the LN node.
This scenario is perfectly fine and with limited users the mint can manage properly the LN node. Rug pulls will be almost 0.
But users nowadays are going full butthead using public mints to store and move around large amounts of sats. That's wrong. Cashu is not for storing, is just a temporary solution. Use it only if you do not have another option.
Ignore the Genocide and Be Happy :)
https://www.youtube.com/watch?v=AHPmW-XKfCM
Censorship resistance principles require that every time this comment is downzapped it will be replicated twice over.
Thank the Anonymous Zionist Downzapper for the ENDLESS SPAM about the Genocide.
Ignore the Genocide and Be Happy :)
https://www.youtube.com/watch?v=AHPmW-XKfCM
Censorship resistance principles require that every time this comment is downzapped it will be replicated twice over.
Thank the Anonymous Zionist Downzapper bot for the ENDLESS SPAM about the Genocide.
Ignore the Genocide and Be Happy :)
https://www.youtube.com/watch?v=AHPmW-XKfCM
Censorship resistance principles require that every time this comment is downzapped it will be replicated twice over.
Thank the Anonymous Zionist Downzapper for the ENDLESS SPAM about the Genocide.
I generally like Cashu, but it's healthy to hear criticism:
source