As I understing, you're sending real Sats to a mint that provides ecash on a small piece of code that you save yourself on a file.
What happen if the minter goes offline? Can you recover the funds on a different mint?
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129 sats \ 0 replies \ @tolot 13 May 2024
Nope, even though the Cashu protocol unveils different dynamics than the simple self-custodial/custodial.
A couple of points in this regards:
- Ecash cashu tokens are self custodial, in the sense that you hold them and nobody else holds them for you;
- Cashu mint is a trusted third party, because it is responsible of double-spending avoidance.
I would say that cashu is a protocol in which there are third parties involved, thus it raises a counterparty risk. Technically, cashu tokens are self-custodial.
But this is a nuance...to simplify it to newcomers is fine to call it a "custodial" system.
I wonder if it will ever be possible to have an onchain UTXO acting as a mint, but I never thought through this technically speaking
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100 sats \ 0 replies \ @Michilis 13 May 2024
Yes, it depends on the mint. If a mint goes offline indefinitely, you could lose your sats. That’s why it’s advised to only use trusted mints and to diversify your sats across multiple mints. Mint index: https://cashumints.space
You can also host your own mint, although this requires some server knowledge. Alternatively, you can easily create a Nostr mint on an LNbits server.
https://docs.cashu.space/mints
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41 sats \ 1 reply \ @0xbitcoiner 13 May 2024
eCash relies on trust in the issuer.
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0 sats \ 0 replies \ @piecoverBTC OP 13 May 2024
Ok
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10 sats \ 0 replies \ @falsefaucet 13 May 2024
tradeoffs, tradeoffs everywhere
-Woody (Toy Story)
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10 sats \ 1 reply \ @398ja 13 May 2024 freebie
I guess if you host your mint, the answer is yes...
I doubt you could recover your sats from a different mint, because the tokens were issued with a different private key.
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0 sats \ 0 replies \ @398ja 13 May 2024 freebie
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10 sats \ 0 replies \ @itsMoro 13 May 2024 freebie
if you were running a mint on your own node and many people were using your mint, then youd be able to use the mint as well with the benefits of ecash and not have the rug risk
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21 sats \ 0 replies \ @k00b 13 May 2024
As is, I don't think you can recover with a different mint. It's like wallet of satoshi going offline.
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0 sats \ 0 replies \ @Coinsreporter 13 May 2024
The exact answer is 'Noo'.
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