reply on: Hashpool - accountless mining pool that uses ecash to represent mining shares \ stacker news ~bitcoin

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100 sats \ 5 replies \ @siggy47 20h \ on: Hashpool - accountless mining pool that uses ecash to represent mining shares bitcoin_Mining

It's custodial and also creates a token. It looks like that token will be used in a speculative futures market.

378 sats \ 4 replies \ @k00b OP 20h

All ecash mints mint a token whether they call it a token or not - it's all tokens. Bitcoiners seem to be into these tokens though (at least the ones on podcasts who have all made their peace with IOUs this cycle). "BUT JUST FOR POCKET MONEY!" they yell.

I'm a less bullish on ecash than most, but I also have sympathy for these non-custodial-doomers.

60 sats \ 0 replies \ @BlokchainB 18h

I think ecash is fun thus why I drop a nut in the saloon everyday. With lightning being so hard I think ecash is the easy way out.

It would be great if people could run their own mint say on a start9 but since the common person can’t do that then the rug risk is too great

50 sats \ 2 replies \ @siggy47 20h

It is interesting, particularly the speculative aspect, where people ordinarily without access to markets can shoot for the moon.

57 sats \ 1 reply \ @Scroogey 19h

But where is the market for these futures? They (the mint) are the market? You sell ehash for sats by swapping tokens in the mint?

If so, how does price discovery work?

46 sats \ 0 replies \ @k00b OP 19h

I imagine they expect a market to form and prices are discovered out of band where miners/traders trade "immature" ehash. By some mechanism, as the pool mines blocks, the ehash gains value.