crazy week

ecash is how we win

i find myself trying to post on nostr first as a nod to the network even if i later cross post to X

receiving some questions about this. i’m not knowledgeable about the matter since i don’t believe matt is referring to bitwise’s bitcoin etf here. fwiw we’re still very much committed to donating 10% of profits of our bitcoin etf to open source bitcoin devs (via opensats, brink, and hrf) as announced. View quoted note →

is there a zap limit? or just whatever LN liquidity allows?

cannot stop thinking about ecash send help

this podcast ep was so good. few new ecash things that clicked for me: - you can deterministically generate secrets for the ecash tokens from a seed so that ecash can be backed up and restored with similar UX to bitcoin - the multi-source multi-destination atomic LN tx thing is just next level for practical privacy and censorship resistance holy shit View quoted note →

hmm damus doesn’t render images immediately and require a tap to load/render?

i like primal but notifications are pretty bad (likes not collapsing is really tough). trying out damus for a bit here. multi client open network FTW

trying to understand the chainlink proof of reserves product for bitcoin etfs. for example this is the site for arkb (https://data.chain.link/feeds/ethereum/mainnet/arkb-por) how does this work? seems like it's not really tied to the bitcoin blockchain and is simply a custodian attestation but how do the chainlink oracles get access to arkb's bitcoin balance at coinbase? it's non public information no?

now that i *use* sats (zap ppl everyday), sats feel more money-like to me intuitively. there's something primal about using a form of money that makes you believe that it is money. i'm excited for the world to bypass the whole intellectual journey of "is bitcoin money?" and just intuitively experience bitcoin as money by using it

when ppl say offline payments is possible with ecash, is that practically true? yes i can give you a ecash token offline (via QR code scan or paper mail or something) but wouldn’t the recipient need an internet connection to check with the mint for double spending? so the payment can be initiated offline but cannot be completed offline. is this wrong?

i like how mutiny calls it “esats” instead of “ecash”. it makes it very clear from a upfront terminology point of view what the distinction of this new generation of ecash is from attempts of the past: it’s backed by sats instead of fiat.

personally i feel cashu would be easier to understand if the default UX was that all sats sent to the mint are immediately issued as ecash tokens back to me rather than that being a separate step at payment time

ecash noob question: even if theoretically ecash transactions are private, in practice given apps like enuts don't push you to create ecash tokens ahead of time and the moment of token creation (mint) is coupled with the payment moment (burn) doesn't the mint operator have pretty good visibility into who paid whom?

top UX struggle w/ primal right now for me: if someone tags me on a note and it goes viral i have no way of not getting notifications on that and it basically makes my personal notifications unfollowable for a while until that note dies down

doing an AMA on stacker news for the next hour! feel free to ask silly things

Stacker News

I'm Hong, cofounder/CTO of Bitwise. AMA! \ stacker news

Hi everyone, I'm Hong, cofounder/CTO of Bitwise. I'm doing an AMA here for the next hour. For those not familiar with Bitwise, we're mostly known f...

look, ppl should self custody their bitcoin BUT if your normie friend is about to buy these ETFs anyways, please consider pointing them to bitwise (ticker: BITB) notable features: - lowest fee amongst the four billion plus AUM products (20 bps) - 10% of profits donation to devs (via opensats, brink, hrf) - public transparency (only one to publish holding addresses) - we care (do you see anyone else on nostr?) [BITB disclosures & prospectus: bitbetf.com/welcome]

bitcoin-backed ecash is free banking by the people

ecash (both cashu and fedimint) is by far what i’m most excited about flying back from bitcoin atlantis chaumium ecash failed in the 80s bc we tried to build it on top of fiat and tradfi banks. on top of bitcoin and lightning it has the potential to absolutely crush scaling bitcoin payments and user privacy View quoted note →