Ecash lets the mint custody some value and issue a bearer asset IOU in exchange for the custodied value. It's digital free banking. The hard money value is custodied by the mint. The bearer asset ecash token is custodied by the user. I hope that is clear. In my model the pool runs a mint. They are one and the same.

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I know what ecash is, thx ๐Ÿ˜‰ When the miner does work (submits shares), the pool/mint credits him with eHash tokens in his book. They remain in the pool's book (custody), until the miner withdraws them; that can be once a day, once an hour, whatever. My question was/is, how would the miner be able to trade this eHash token *when it is still in custody with this pool*?? He has nothing in hand, other than a promise (which he can't even prove). Who would trade for this?? They would trade for an IOU (from the miner) of an IOU (from the pool)
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