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70 sats \ 3 replies \ @Undisciplined 23 Jan \ parent \ on: Fedimint and Cashu ecash are gift cards ecash
regulating the money the company holds for you
The store isn't really holding money for the consumer though, is it?
A gift card is basically a prepayment for an unspecified later purchase. Even if they're required to redeem them in cash, that would presumably just be treated the same way refunds are treated.
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393 sats \ 2 replies \ @Scoresby OP 23 Jan
You are right. Prepayment is the term.
But it does make me think that I can "pay" for ecash tokens.
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40 sats \ 1 reply \ @Undisciplined 23 Jan
Sure, but who's the analogue of the store, then?
Is it more like a Visa gift card? People probably think of that more as Visa having custody of your money.
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393 sats \ 0 replies \ @Scoresby OP 23 Jan
I think the mint is the analogue store.
There is a lot of language in the gift card laws about the card only being redeemed at the company it came from. This is true of fedimints and Cashu mints I think even in the case where you are interacting with a LN gateway or another mint. The gateway and mint both have to "redeem" the ecash at the original mint. So that's another similarity.
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