82 sats \ 4 replies \ @SqNr65 17 Jan \ on: Chaumian ecash is the patricians choice.... bitcoin
I'm loving Cashu so far, using Nutstash mainly and I briefly played around with my own mint but I don't recommend doing that since fees to get back to lightning usually means 2 or 3 sats will probably get left behind and I'm not sure how to solve this.
But the fact that I was able to set one up myself in minutes with not much technical knowledge to speak of, and mint my own ecash and send it around and receive it again and turn it back into sats on lightning... Idk, it was mind-blowing to me.
There's no reason to have your own mint other than education. Cashu only gets a privacy benefit if multiple people are using the same mint, and furthermore, holding a non-zero balance. If it's just one person, you might as well use a much simpler lightning wallet.
And yes, I use cashu wallets a lot myself for small LN transactions like tipping on nostr. People need to actually use it and hold a balance on mints for everyone else to get a privacy improvement. I'm happy to put ~$100 at risk to contribute to that.
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Completely agree, I really wanted the education so I went for it, turns out, very achievable for the layman.
Glad I did it, wasn't expecting any privacy improvements or anything like that just tinkering. Lost 3 sats but hey... A good amount of education at the price of 3 sats is a steal
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Yes, there is great potential here - as it offers to "scale" the fee problem as well as txn scaling...
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Pleb signs up for some custodian account (ie. Coinbase, etc) - gets "eCash". Pays 0 fees.
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Transacts and does things....eventually as reserve builds up pulls off some via LN to self-custody wallet....pays minimal fee
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As LN reserve builds up further, eventually transfers "savings" into onchain self-custody solution....pays high fees but total control
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