20 sats \ 3 replies \ @Scoresby OP 29 May \ parent \ on: Why can't you buy ecash from a Cashu mint? bitcoin
No, I do not think you have demonstrated that just because a token is pegged to another asset, users of that token expect it's issuer to act as custodians for that asset.
I might buy ecash with SATs, then use the ecash to buy a taco from someone willing to accept the ecash. If that person can pay for something else with the ecash, sats need never enter into the equation except as a means of establishing the value of the token.
just because a token is pegged to another asset, users of that token expect it's issuer to act as custodians for that asset
The fiat mind virus got you bad
First, its not pegged
Second, if users didn't value the peg, why would the peg exist in the first place?
No one is going to use ECash for its own sake, they're going to use it as a bank note. Whether that bank holds Bitcoin, Taco's, Dollars, or simply forces adoption by decree (Like will happen with Federal Government ECash), its no more valuable than any other piece of arbitrary data on the internet.
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I missed a word in my reply above. It should read:
just because a token is pegged to another asset, doesnt mean users of that token expect it's issuer to act as custodians for that asset
Sorry, I type poorly on a phone.
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I inferred it, still total nonense as I stated
if users didn't value the peg, why would the peg exist in the first place
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