How Many Sats Are You Comfortable Having in Ecash? \ stacker news ~AskSN

How Many Sats Are You Comfortable Having in Ecash?

1076 sats \ 58 comments \ @OT 13h AskSN

How many sats would you be uncomfortable with leaving in ecash? Either fedimint or one of the cashu mints.

less than 1000 sats20.0%

1000-10000 sats28.6%

10k-100k sats34.3%

100k-500k sats11.4%

500k-1m sats5.7%

more than 1m sats 0.0%

35 votes \ 11h left

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342 sats \ 3 replies \ @SwapMarket 11h

ZERO. Anonymous mints cannot be trusted. Non-anonymous will be chased by the feds and can be shut down any moment. Mints are scams.

0 sats \ 0 replies \ @Msd0457890 3h

I'm new to Bitcoin, how do I recognize exchange houses?

0 sats \ 1 reply \ @OT OP 11h

fair...

How about "non-anonymous" liquid? They have something similar. Are they just not big enough yet?

126 sats \ 0 replies \ @SwapMarket 10h

You can't replicate what they achieved with any other "federation". Bitfinex and BitMex are already big enough and long running for me to trust a few thousand sats. And quality of the devs work is very high. Compare Boltz repo to something like Robosats, it is day and night. Rootstock claim they are the longest running sidechain, but I see no progress there in all these years. They comfortably sit with their premined token and are not motivated to do more. Liquid has no token other than Bitcoin, they are incentive compatible with it. And mints, they are just pyrhon scripts with a built-in cheating mechanism (fake wallets).

63 sats \ 0 replies \ @mdominicorobin24 11h

Less than 1000 SATS is what I am willing to store in Ecash. It is just too shady to begin with.

21 sats \ 2 replies \ @Satosora 13h

Why keep it in ecash when you can keep it in sats?

0 sats \ 1 reply \ @OT OP 13h

Similar to custodial LN wallets but better privacy

0 sats \ 0 replies \ @DesertDave 4h

And helps us scale to use both. If trust us an issue, don't use it. If you trust a specific mint to a degree, maybe it feels okay to keep some sats there. No different than how stacker has been. A little trust is okay. Trust is needed to have any sense of community.

75 sats \ 2 replies \ @Hamza15252 13h

Because im new I don’t understand e cash so well I wouldn’t want to keep my savings in it

14 sats \ 1 reply \ @OT OP 13h

So 100 sats would be too much?

10 sats \ 0 replies \ @Hamza15252 12h

Because I don’t understand e cash I would rather keep my satoshi

100 sats \ 2 replies \ @TheWildHustle 10h

I'm at the 1-10k mark

I have 3k sats in cashu.me with the e-cash split between 3 mints

Using the minibits, coinos, and oxchat mints for now.

I'm playing around with the NIP60 wallet because I think it has a lot of potential, could see myself permanently holding my daily zap amount in the thing, would be cool if cashu.me had maximum threshold and automatic withdraws like the SN wallet, multipath payments too.

Hustle would like:

2 nostr wallets that follows my npub to each client (a checking and savings)
The checking would have a threshold of 1k sats split between 5 WOT mints
Anything above 1k would be sent to my nostr savings
My nostr savings would be split between 10 WOT mints
The savings would automatically withdraw multipath payments to my lightning node every 24 hours.

Everyone doesn't need to go down this path, they'll be free to use their lightning nodes and nwc, the above is just what Hustle would enjoy. I understand that the e-cash is more like interoperable credits that can be rugged from an intermediary, hopefully small amounts, automatic withdraws, wot, and multipath payments limit the cost of doing business with the mints.

0 sats \ 1 reply \ @OT OP 10h

Thanks for the detailed response.

So that sounds like a maximum rug of 1000 sats if a mint were to disappear.

0 sats \ 0 replies \ @TheWildHustle 9h

Yep,

82 sats \ 3 replies \ @398ja 10h

I left 10k sats on the legend.lnbits.com mint and it disappeared without warning. 😩

0 sats \ 0 replies \ @Msd0457890 3h

Something similar happened to me too, these are things that help you learn to be more cautious.

0 sats \ 1 reply \ @OT OP 10h

Too much to lose?

Was that the default LNbits mint for testing? I think they gave about 6 months warning (if I remember correctly).

0 sats \ 0 replies \ @398ja 9h

I clearly didn't pay attention. That's ok.

62 sats \ 4 replies \ @megaptera 12h

It depends who runs the mint.

42 sats \ 0 replies \ @DesertDave 4h

This. It's a trust solution. Which I great. Sometimes we can trust. That's how we scale. And it's a spectrum.

0 sats \ 2 replies \ @OT OP 12h

Fair.

So a mint that has been around for 1 year? 2?

45 sats \ 1 reply \ @megaptera 12h

I would prefer a mint who is run be people I or a community I know trust. On the other hand this could be an issue if the operators are known. Its not an easy question.

0 sats \ 0 replies \ @DesertDave 4h

There are so many communities and groups that could use these and scale Bitcoin easily. There will always be trust. Without trust there is no community.

42 sats \ 0 replies \ @DesertDave 4h

Probably depends on the mint. The tech is sound. But who is behind it. A little trust goes a long way in Bitcoin scaling. the core incentives are sound so there will be many good actors.

42 sats \ 0 replies \ @BlokchainB 8h

Part #1

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

42 sats \ 0 replies \ @sangekrypto 10h

I just saved 1000 sats in ecash, maybe when I have collected it I will increase my savings.

42 sats \ 1 reply \ @ravener 10h

ecash looks fun like a gift card thing, but I wouldn't hold them there, I believe you should trust a mint to the same extent you'd trust a central exchange, you never know.

0 sats \ 0 replies \ @OT OP 10h

Fair enough.

42 sats \ 0 replies \ @leonidastouch 11h

1000 to 10000 SATS. They can close shop anytime so it is better to leave behind a few. Just a few.

42 sats \ 3 replies \ @0xbitcoiner 13h

The same as in an LN custody wallet!

0 sats \ 2 replies \ @OT OP 13h

So what amount is that?

0 sats \ 1 reply \ @0xbitcoiner 13h

nice try fed! Ahahah

I already voted.

22 sats \ 0 replies \ @OT OP 13h

Ahh, I see you!

The Fed see's everything

146 sats \ 17 replies \ @DarthCoin 13h

ecash is NOT for holding! This is like saying: how many gift cards you are comfortable to keep.

10 sats \ 0 replies \ @Nuttall 12h

Wow! Great analogy. Except ecash gets screwed by DNS and at least gift cards have a number and pin.

0 sats \ 15 replies \ @OT OP 13h

Why did you make a guide to link cashu to Albyhub then?

0 sats \ 14 replies \ @DarthCoin 13h

Did you read it? What did I said there?

0 sats \ 13 replies \ @OT OP 13h

You show a few different ways to use Albyhub. You go through each option and one of them is cashu.

You don't remember?

120 sats \ 12 replies \ @DarthCoin 13h

So? Seems that you read from my guides only what you want to hear. The guide is how to use Albyhub, not how to stash your sats with ecash. Just by asking this question, you demonstrate that you didn't understand what is ecash.

0 sats \ 11 replies \ @OT OP 13h

I think you know what I meant. Under 1000 sats is not like stashing sats. Its for spending and receiving small amounts. I'm not asking people to store their sats in ecash. Ecash is NOT bitcoin.

345 sats \ 10 replies \ @DarthCoin 13h

How many sats would you be uncomfortable with leaving in ecash?

What does it means "leaving" ? You didn't specified how much time: 1h, 1 day, 1 month, 1 year. You could have your own mint or using others mint. Are two different situations.

If I run my own mint, for family and friends and I am their custodian is not the same as if they use a random mint. They can still use and pay easily any LN invoice with their ecash wallets, but that doesn't mean I do not have to take care of the LN node liquidity for them. In that case, how much are you willing to have in a ecash wallet?

You didn't specified how to use ecash or what for. That could create even more confusion for noobs. Some of them now will even think "hey I came for Bitcoin and I find out that is "something else" this ecash...".

10 sats \ 9 replies \ @OT OP 13h

There's plenty of info about that. This is just a simple poll on the topic.

The reason I'm asking is that I'm currently using cashu on the back end of Albyhub and its having some issues. When a payment doesn't work I immediately remember that this could get rugged at any time so I shouldn't leave too many sats in there. For me the threshold is around 5000 sats. When I get more than that, I withdraw to my LN wallet keeping between 1-3k in ecash to use for zapping, posts, polls and comments. But that's just me. Some people might be comfortable leaving more in an ecash wallet. This poll is to find out.