Thoughts on E-Cash (Distributed trust) \ stacker news ~bitcoin

1744 sats \ 16 comments \ @TheWildHustle 19 Mar bitcoin

This e-cash stuff is going to be a lot crazier than we think.

Plebs are going to distribute trust along mints that belong to products and services they already use.

You pay an invoice and the funds come from multiple mints, you can send and receive offline, transactions are cheap and private.

Instead of a fountain wallet, stacker news wallet, primal wallet etc.

They should all be federations added to your mutiny wallet

Set a trust limit to 5k sats per connected federation. When trust threshold exceeds the amount allowed on the mint keep the sats on a spliceable dual funded lightning channel

If the fountain mint rugs me, at least it was only 2k sats......sats that weren't in my custody in the first place. And at least the mint gave me benefits that would have been impossible otherwise.

And If I don't trust fountain with 5k sats in 2024, I might as well take my satoshi's elsewhere.

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10 sats \ 1 reply \ @nullcount 19 Mar

And you get to KYC with all of the mints!

Or blind signing fixes this? Waht about muh criminal finance prevention policies?

0 sats \ 0 replies \ @TheWildHustle OP 19 Mar

I didn't need to kyc for stacker news or the bitcoin company rewards or bitcoin magazines carrot app, why would I need to kyc into a mint?

80 sats \ 0 replies \ @TonyGiorgio 20 Mar

Multimint is an interesting concept. I'm not sure how easy it will be to communicate it and visualize it to the end user.

I think one federation with 7+ reputable signers in a multisig will be more reliable and safer than 7 individual signers in their own cashu mints.

Though mutiny kinda has support for multi federations. We have it disabled in the frontend for now.

36 sats \ 3 replies \ @DarthCoin 19 Mar

They should all be federations added to your mutiny wallet

No. That is for clueless plebs.

0 sats \ 2 replies \ @TheWildHustle OP 19 Mar

Is the fully non custodial pleb lightning wallet dream still alive, or will mints offer better tradeoffs? (And I'm not talking about using it for a cold storage replacement or "Bitcoin Checking account" at all. More along the lines of a small v4v wallet with 10k sats for the freaks).

171 sats \ 0 replies \ @DarthCoin 19 Mar

Plebs are still clueless about Mutiny... that is what am I talking about. They are just blindly "follow" what others says. #453267

221 sats \ 0 replies \ @justin_shocknet 19 Mar

All mints do is add shitcoin complexity and key management over a custodial solution, literally the worst of both worlds

If you don't keep enough hot sats to worry about custody that's fine but let's not pretend mints fix anything

50 sats \ 2 replies \ @kepford 20 Mar

I'm still wrapping my head around the e-cash stuff. I decided yesterday I need to set up my own to get my head around it. Seems to be the way I learn best.

43 sats \ 1 reply \ @TheWildHustle OP 20 Mar

Checkout eNuts

0 sats \ 0 replies \ @kepford 20 Mar

On my list. Thanks.

0 sats \ 0 replies \ @Ge 21 Mar

Personally I see e cash as a way to get orange coin out of the people's hands that need it most learn to self custody and ACTUALLY OWN something that cannot be taken from you. Although the idea is there for low fees and privacy it just doesn't resonate with me personally that's just my 2 sats

0 sats \ 1 reply \ @OT 19 Mar

Can our favorite brands run a good mint though? As in will their back end LN node be well connected and have enough liquidity?

0 sats \ 0 replies \ @TheWildHustle OP 19 Mar

I’m already relying on stacker news and fountain to have liquidity to send me rewards.

0 sats \ 1 reply \ @koqoo 19 Mar

Trust requires the human element, built upon genuine connections, transparency, and reliability.

0 sats \ 0 replies \ @TheWildHustle OP 20 Mar

I trust SN with 1k sats, any more than that gets auto-withdrawn. SN checks the boxes above, primal and fountain check it as well.

0 sats \ 0 replies \ @SaToSHiWoMaN 19 Mar outlawed

stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.