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68 sats \ 2 replies \ @02bcd3eeb0 28 May \ on: Why can't you buy ecash from a Cashu mint? bitcoin
When you give your money to a bank, they are custodying your money. They're not giving you something in exchange for your money.
Banks don't custody your money, they give you bank credit (/bank tokens) in exchange for your money. Because society has been psyoped by bankers&state to accept bank credit as if it were money. During financial panics people find out very quickly they are not the same thing.
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10 sats \ 1 reply \ @Scoresby OP 28 May
That's a good point. Can we say that fully reserved banks custody money?
I use the bank analogy because I've heard folks compare ecash mints to a free banking system.
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34 sats \ 0 replies \ @02bcd3eeb0 28 May
It makes the analogy more accurate I think. Original DigiCash was made to be used by banks.
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