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0 sats \ 2 replies \ @Eobard 11 Feb \ on: Ecash is just digital fiat. Change my mind bitcoin
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yes this is 100% the case.
ecash is just a blind signature that can be issued and verified by the mint
there is no ledger or independent way to audit the supply of these signatures
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You can audit. It's not 100% verifiable, but it can help catch fishy behavior. A lot of free baking theory and competitive banking/hedge funds come into the equation.
Also programmatic bank runs and scheduled expirations help this.
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