389 sats \ 2 replies \ @TonyGiorgio 12 Feb \ on: Ecash is just digital fiat. Change my mind bitcoin
I hope everyone here realizes that you're using a custodial service with an amount of sats that wouldn't make sense to try to self custody on Bitcoin or in lightning. One where the operator knows everyone's balances and transactions. One where it is trivial to selectively nullify that balance with a single unilateral action.
Ecash fixes this, and federated ecash distributes this even further.
Wen ecash air miles?
This may sound a little flippant; I don't mean it to be.
In some cases btc (even on lightning) doesn't work well and neither do dollars (the most non internet native money since cowries), so we get "points."
Ecash is a heck of a lot better than points for reasons listed above and because it could be a standard that allows for interoperability.
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Ecash fixes this, and federated ecash distributes this even further.
Agreed. Ecash is a quite elegant way to fix those issues.
Nevertheless ecash it doesn't have to be used by everybody, every bitcoiner. Only in specific cases where is really needed. And the beauty of it is that nobody is forcing you to use it, is fully inter-communicating with regular LN apps.
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