5 sats \ 3 replies \ @anon 19 Jan \ parent \ on: Awesome Cashu: A curated, collaborative list of awesome Cashu resources lightning
Applaud your brainstorming about Cashu and its potential. Its a great project.
To me this sounds more like you should fork and work on this for your use case if you're truly passionate on this topic. For Cashu proper, I would argue similar to what Odell argues about taproot assets (taro), this is a distraction/diversion away from the core Cashu mission and focus on advancing Bitcoin. I don't want to speak for him, but I am guessing @calle would tell you the same based on everything I've read/heard him say about Cashu. I could be totally off and I'm open to being corrected here.
There will never be enough dev time or resources especially for open source projects where devs are largely unpaid or minimally paid, and thus time dedicated to bringing USD or other assets to Cashu is time taken directly away from working on advancing Bitcoin on Cashu. This is not a good tradeoff imho.
What you are describing is already a key use case used for Fedimints, and at several conferences they have done exactly this with Alpha Fedimint Federations. I don't see a big value add to pulling away Cashu dev time and resources on Cashu to address a use case already largely addressed with ecash on Fedimints.
For examples of where this has been successfully done on Fedimints please see articles like this:
https://www.fedi.xyz/blog/announcing-the-first-ever-pop-up-federation-in-btc-prague
Appreciate your interest and passion. If you find this use case valuable for you and your company would encourage you to fork and work on yourself or try to convince your company to push for dev resources.
To be clear: I don't see this as distracting from @calle focus, as I would still think the initial minting could require LN-BTC. Its just that instead of minting 1:1 cashu to sat, there would instead be a configurable setting. So, you could mint say 10,000 usd-cashu per sat (or whatever). Further, it should handle multiple of these "asset types" - with different descriptive labels and conversion parameters (ie. USD Token 10:1 to sat, etc)
I honestly appreciate the feedback though! I have a different view - that I think it born out of the real world: No one actually wants to spend their bitcoin - and this is actually the fundamental problem LN / etc has. As price (and fees) goes higher, this will exasperate the issue. Why spend $3.51 on a coffee that will cost you $35 in 4 years. Same reason why no one in Argentina buys coffee with gold.
Bitcoiners need to accept that Greshams Law is real (spend bad money before good money)...and fighting this fact is counter-productive for bitcoin as a whole. I'm not advocating shitcoins per se...but "tokens" are used ALL OVER the business world. Why shouldn't United Airlines base its air-miles program using eCash tokens?
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Definitely a reasonable idea and perspective. I share your frustration with Bitcoiners' unwillingness to ever spend sats, even if they just pay with Bitcoin by directly from converting from fiat (you spend fiat but someone receives BTC, great compromise imho - but everything has tradeoffs).
To clarify I actually like your idea, I think its just better suited to either a Cashu fork (a corporate oriented Ubuntu versus the community project Debian) or Fedimint. The core idea/use case is cool imho. I think say a United is not going to want to use a privacy oriented anonymous freedom at all costs app that "terrorists" may be using (not my opinion, I love Cashu, I'm just imagining the boomer conversation inside of a big company board room). The regulatory/compliance/lawyer crowd at a big company would burn the place down before they let them use Cashu. A Cashu fork or Fedimints I'm guessing would be more palatable.
All my guess, the free markets will decide. I don't seek to stop anyone. I truly love your enthusiasm. I wish your idea was more widespread-ly acceptable but companies using Cashu as is seems like a stretch to me for all but the most hardcore freedom oriented Bitcoiner founded and led startups.
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Yes! No worries friend. I agree that "United" itself wasn't going to launch lnbits and install a cashu extension...haha....simply making the point that I would rather them use "our" tech (even if its the eventual Ubuntu version of Cashu)
For reference, the people who run the festivals I work for are old hippies and they would pretty much agree to whatever I suggested. The actual problem I have with "fedi.xyz" is that its probably a little overkill for lots of grassroots usecases ( things like kids book fair at school, carnivals, farmers markets, etc).
There are lots of little ad-hoc usecases where there is too much friction in making people download apps and jump thru sign-up hoops. They just need a quick to use eCash solution. It really needs to be a "scan this QR code on your phone" solution.
Anyway thanks for your comments, I appreciate it
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