0 sats \ 5 replies \ @allmightyrandom 31 May \ on: Summarizing my thoughts on ecash bitcoin
Is self custody for your small money really so important for you? Keep your live savings in Bitcoin, use lightning to spend some sat, cashu is only adittional and mainly designed to improve custodial lightning solutions. I dont get it why you always shooting against cashu. It makes no sense. You are intellignet, so my question is who pays you? Do you have a better idea to improve custodial lightning solutions? Why are you not working on the protocol to improve it?
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1 sat \ 4 replies \ @sethforprivacy OP 31 May
No one pays me to write these things.
This isn't an attack on Cashu, but a summary of my issues with ecash generally (that includes fedimints etc.).
Do you have a better idea to improve custodial lightning solutions?
Yes, don't use them :)
Why are you not working on the protocol to improve it?
Covenants would make Lightning for more user-friendly and enable better L2s, so that would be an ideal starting place.
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69 sats \ 3 replies \ @allmightyrandom 31 May
Not using custodial solutions is not a solution! Sometimes it makes sense. Why you only see the negative aspect of custodial solutions? Iam willing to loose some sats i use for my daily spendings if i get more privacy and functionality. With ecash you can literally print your own money (iou) and give it offline to somebody else. You can do it even physically by handing over a banknote. You can even be in the desert without internet access or electronic device.
Covenants is another solution that does not exist yet. It also is a L2 solution. Cashu does exist today and i would say it is a L3 solution and an improvement of custodial services that are being used since many years.
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0 sats \ 2 replies \ @sethforprivacy OP 31 May
Can't you also do that with LNURL-w?
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0 sats \ 1 reply \ @allmightyrandom 31 May
No, this is not the same. LNURL is a HTTP request. Sure you can print a lnurl-w voucher on paper. But you still have the problem that the custodial sees everything and can even delete this specific request. With ecash this is not possible. You can not destroy a specific token. Iam not a lnurl professional, only using it sometimes so i can not explain the difference very well but i think others here can explain the difference.
If nobody answers open a neutral topic: The difference between Lnurl-w and ecash.
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0 sats \ 0 replies \ @allmightyrandom 31 May
Here the differences chatBTC gave me:
Purpose: LNURL-w: Facilitates easy withdrawals from Lightning Network wallets. Ecash Token: Provides anonymous digital cash-like transactions.
Privacy: LNURL-w: Focuses on ease of use rather than privacy. Transactions are not inherently anonymous. Ecash Token: Prioritizes privacy and anonymity through cryptographic mechanisms like blind signatures.
Transaction Process: LNURL-w: Involves scanning a QR code to automate the withdrawal process from a Lightning wallet. Ecash Token: Requires interaction with a mint to issue, transfer, and redeem tokens while maintaining user anonymity.
Trust Model: LNURL-w: Relies on the existing trust model of the Lightning Network and its nodes. Ecash Token: Trusts the mint to issue and redeem tokens correctly while ensuring privacy and preventing fraud.
Usage: LNURL-w: Mostly used within the context of the Lightning Network for quick and seamless withdrawals. Ecash Token: Can be used for various anonymous digital payments beyond just the Lightning Network.
These distinctions highlight how each system serves different needs within the realm of digital currencies and payments.
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