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“Then there are multiple other problems with custodial services themselves that cashu also inherits. For example, it’s hard to prove that you don’t inflate the supply. So how do you know that an ecash mint didn’t print more ecash than it has in Bitcoin reserves? It’s an unsolved problem we’re literally working on it right now… Theoretically unsolved yet…
What do stackers think about this quote? From the ecash god himself.
It might be unsolved now, but is it solvable. Chill.
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No, it isn't... if it was we wouldn't have needed Bitcoin in the first place.
This is why ECashers have painted themselves into a narrative trap trying to project it as something superior to an SQL database, when it's really just a more fragile server credential.
If you're going to trust someone to custody it's always going to be a binary risk and there's no shitcoinery that change that.
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if u don't trust vitalik or larry fink, then why trust the custodian of the ecash mint?
ecash literally a money transmitter business so at scale they will be prosecuted (already how many custodial lightning wallets are not available in the USA?)
either the mint rugs you or the government will rug you but either ways it's rug tech in the same way blockchain tokenenomics is scam tech
bitcoiners don't see it because they listen to podcasters more than verify the tech themselves...
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I know someone rugged from ecash (only a few hundred sats). I don't know how this will be solved. Interesting discussions though.
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ecash is a magic carpet just like ethereum — empower anyone to rug their family and friends
heck even create a business model out of rugging
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