reply on: Ecash is just digital fiat. Change my mind \ stacker news ~bitcoin

1031 sats \ 9 replies \ @deerwhisper 11 Feb \ on: Ecash is just digital fiat. Change my mind bitcoin

If you watch these 3 videos and still think ecash = digital fiat then idk

21 sats \ 8 replies \ @BlueSlime OP 11 Feb

all of my points still stand. Plus I don't think anyone linked in your vids refute them either.

121 sats \ 4 replies \ @byzantine 12 Feb

e cash is a rug waiting to happen

Only one mint at a time. But also, that's not the efficient way to steal with a mint. You can just print yourself money and keep it going.

0 sats \ 0 replies \ @byzantine 12 Feb

yes, develop trust at a mint then run it quietly at a fraction of reserves for a long long time in secret

0 sats \ 1 reply \ @Kathleen_Croteau 12 Feb

What is the most trusted mint? Is there a directory anywhere?

0 sats \ 0 replies \ @deerwhisper 12 Feb

Wouldn't put any sort of trust in a mint right now. We're still very early days for eCash on Bitcoin. If you want to play around with Cashu (knowing the chance of losing funds is there) I suggest Minibits or Enuts

42 sats \ 2 replies \ @030a29f333 12 Feb

Lyn talks a bit about ways that mints could be audited (to some degree). It's an evolving topic.

Would also say a fedimint with multiple guardians isnt 100℅ centralized. Centralization is a spectrum, removing a single point of failure is a reduction in centralization IMO. It's still far more centralized than Bitcoin, but there's tradeoffs (good and bad)

0 sats \ 1 reply \ @joda 12 Feb

Yes but it's 100 percent custodial.

0 sats \ 0 replies \ @030a29f333 12 Feb

Yes. Anyone claiming it's not is a red flag IMO. But custodial and centralized are 2 separate considerations