0 sats \ 7 replies \ @ek 16 Dec 2023 freebie \ parent \ on: [important] foreign asset control compliance meta
This freebie thinks that currently, Cashu is the opposite of what we want right now since it's custodial and private.
But what does this freebie know, I am just a freebie, we don't do much PoW...
It's custodial but SN is not the custodian and might even never learn who the custodian is.
Privacy is indeed a problem if you want to report accurate zap amount, however it's all so vulnerable to Sybil attacks anyway that we have to assume it's never "accurate" accurate.
BCH's memo.cash is a demonstration of what would happen to Nostr if it required setting up a non-custodial crypto wallet to start.
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It's custodial but SN is not the custodian and might even never learn who the custodian is.
If SN would be running a cashu mint, SN would be considered a custodian.
@calle, or am I getting something wrong here?
And SN would need to run a mint to accept cashu (deposits) and mint cashu (withdrawals), right?
@om, how do you imagine SN to use cashu? Is there some misunderstanding?
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I mean, look at this sentence, written by @om and we have OTS:
It's custodial but SN is not the custodian and might even never learn who the custodian is.
What kind of mental gymnastics is this? Olympia? Because I clearly don't get it, lol
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What I mean is that zapped nuts are encrypted with the zapee's pubkey and therefore SN doesn't know whether it's a nut or not and if yes, what mint it is from. The user's software needs to report how much zaps it received once it unencrypts all DMs and reissues all the nuts.
Of course the user might maliciously exaggerate the amount of sats but then again the user might just zap self instead of modifying the software to lie.
Another problem is that the user might be prompted to connect to a weird server by receiving a weird nut and this is more targeted than inserting images into SN comments.
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I do not expect SN to run a mint. Instead I'd imagine SN to designate the list of, say, 10 mints that it accepts nuts from as payments for posts and comments. The users zap each other via DMs instead.
The principal difficulty is that the user side software must unencrypt all the messages, connect to all the mints it wants to connect and reissue all ecash. This is far from ideal.
What might be better is if somebody not from US hosted a clone of Liquid with 100-1000 times less fees. The code is already there.
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This is far from ideal.
PRs welcome :)
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