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741 sats \ 5 replies \ @Wumbo 21 Jan \ on: Is There A Way To Prove Mints Aren't Inflating Supply? ecash
This is not a perfect solution but one option I heard is if leaving a Mint and moving to another Mint is made easy and cheap enough, occasional bank (mint) runs could be an option.
Basically make bank runs so easy to do that it highly encourages Mint runners to be prepared.
It is not a if but a when that a mint will have to "prove" they have 1 to 1 reserves.
How will you be able to vet all these different mint operators that you would move to? You go to webpage that has list of 1000 different mints with random internet monikers...who do you trust?
I think only answers are: small known group and/or limited duration exposure to mint (you lock up funds for 1 day, etc then withdraw).
You can automate bank runs: https://gist.github.com/callebtc/ed5228d1d8cbaade0104db5d1cf63939
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wouldn't the ease of this successfully being pulled off depend on lightning liquidity surrounding the mint?
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