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10 sats \ 75 replies \ @Scoresby OP 28 May 2024 \ parent \ on: Why can't you buy ecash from a Cashu mint? bitcoin
Did you read the Wallet of Satoshi example? There is a difference in trade offs between database entry and ecash from a mint.
I'll accept this could be the case, but heuristics don't sound like a sure thing.
Do you at least acknowledge that an ecash mint can only rug if they rug all users at once, whereas something like coinbase of WoS can rug one specific user if they like?
Yes and it demonstrates you have no idea how any of this works.
The trust level is the same, the privacy benefits are illusory.
Do you at least acknowledge that an ecash mint can only rug if they rug all users at once
No, that's retarded you would even think that. The gateway can execute any logic it wants.
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Rugging has nothing to do with the gateway. Mints can rug. Gateways just choose to act as a gateway or don't. They have no effect on whether I continue to hold the ecash.
You say you are stating facts:
The trust level is the same, the privacy benefits are illusory.
This is your opinion. Demonstrate it with an example or something. Or discuss it further. Just saying it isn't fact.
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From your OP
I trust WoS to update a spreadsheet they have that credits those sats to my account
do some fancy math to issue an ecash token
Before I make assumptions about what you are implying here, are you suggesting that Sats to ECash is less trusted than Sats to SQL Record?
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No, I'm suggesting it results in different levels of visibility into the transactions that happen within the mint versus those that happen within the SQL database.
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within the mint
That's not Bitcoin
Also WoS is just anonymous keys anyway so the benefit is a farce
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I'm not arguing that ecash = bitcoin.
I specifically say it is not.
I'm arguing that ecash may be useful.
I don't agree that there is no difference between whatever database WoS runs on the back end and an ecash mint. I am under the impression that movements of ecash within the meant (meaning from one user to another) are not clearly visible to the mint. WoS can see all movements of all balances between users. Is this not the case?
No, with ecash the mint doesn't know who you are, nor does it know what specific tokens it issues you. All it knows is that somebody got some 32-sat token.