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Integrating Ecash into the Business Model and Payments flows
41 sats \ 6 comments \ @Ginepro_Co 28 Oct lightning
I've been using bitcoin onchain and lightning for a bit now, and I'm willing to explore the possibilities of integrating CASHU Ecash as possible payment options for our online platform and il loco IRL.
When we'll see any Ecash accepted stickers? Maybe people will be less skeptical about it and reading the word cash on it, maybe easier to ask questions and try something new?
Has any merchant had any succesful story to share? Or maybe you, as customer, were given this option at the cashier/checkout?
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61 sats \ 5 replies \ @DarthCoin 28 Oct
No, seems that you get it wrong. Ecash is NOT a separate network. ecash is sats Lightning. Is like gift cards that can be redeemed over LN.
So is enough that you put a sign with "accept Bitcoin Lightning" and anybody that is having an ecash wallet could pay as usual.
There's no need to have a separate option.
But... what you can do is to create YOUR OWN mint and let your regular customers to pay with those tokens, if you like. So you practically create a gift card ecash.
As I explained in this scenario guide: https://darth-coin.github.io/wallets/bitcoin-adoption-using-ecash-en.html
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0 sats \ 4 replies \ @Ginepro_Co OP 28 Oct
Thank you for the link, bookmarked for future reading.
I know cashu relay on LN, as well as it is a separate protocol. For the end user, it will be another payment option, that could be used to easily onboard new users, without them knowing or understanding is peg with LN or bitcoin itself. For example if I want to sell gift cards as merchants I'll do using Cashu tokens and the end user does necessarily need to know.
In the other side, anyone can come to me and use tokens, that I'll then validate with my or any other mint. is that correct?
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44 sats \ 3 replies \ @DarthCoin 28 Oct
Transacting with your own mint, will be free and also could be offline or in the same local network. No need to get out and swap between mints over LN.
You practically can create a fix amount of tokens and never get out into Bitcoin LN network, if you transact to each others.
Now, there's another story if you want to move funds from that mint into another or redeem (melt) some tokens into LN sats. That involve a real LN payment. It means fees, liquidity, channels, UTXOs etc.
ecash tokens are exactly like cash coins, only that are digital. That's all. Did you used those opendimes? Something like that, only that is easier to use and exchange.
For the end user, it will be another payment option
No is not. Is the same as LN. The only new aspects is that it can be done without internet. You are playing around with IOUs.
The interesting aspect for end users and for you also, is that you can sell or give them these tokens as gift cards to be used to buy in your shop. You can say: "I will give you x discount if you use these tokens instead of paying me with other wallets". For both parties is better because is not necessary to use real LN liquidity.
Only if they want to spend those tokens in other places, where they do not use your mint. In that moment, they do not need to switch any other wallet, they could just pay with the same ecash wallet with your tokens, but it will involve a melt of them, transferring the sats into the other receiver LN channels.
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0 sats \ 0 replies \ @Ginepro_Co OP 28 Oct
No is not. Is the same as LN. The only new aspects is that it can be done without internet.
That's what I mean. Why bother orange pilling the user, explaining what it is? They can use it, keep it offline, until when they learn enough to understand how to redeem it. Somehow it allows me to receive bitcoin, but also mask it and not even mention it when dealing with clients.
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0 sats \ 1 reply \ @mo 28 Oct
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20 sats \ 0 replies \ @DarthCoin 28 Oct
It helps you more to not use your LN node liquidity, if all the txs are between you and them and/or between them.
This scenario is good in a place where people start a circular economy.
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