cashu is a custodial bank. Money can be held hostage and KYC asked retroactively. Implementation details don't matter it's a fact. People are delusional about bitcoin banks

💯

I think this spec will be a mistake. TBH, I am confident once the flaws are pointed out, the spec will be withdrawn. OpenID is just centralised identity. We might be better of exploring DID specs around decentralised identity -

Decentralized Identifiers (DIDs) v1.0

Decentralized identifiers (DIDs) are a new type of identifier that enables verifiable, decentralized digital identity. A DID refers to any subject ...

Harder to build, but lets not talk to OpenID providers!

Errrrr bad take. Please temm me where it says this MUST be implemented by a mint?

literally a feature that multiple Bitcoin community projects and businesses have requested that want to transition from normal custodian to ecash. we're winning, these are just the inevitable screeching noises by NPCs in the background. the more these people screech, the more I know we're doing it right.

The real NPCs are those who lack the competence to build self-custodial projects. I focus on better things and refuse to introduce KYC to benefit corporations. You are an attacker and will be called out.

Don't you think that we should also help improve the privacy and utility of already existing custodial systems?

No. We should stop using them.

When is WoS adopting cashu?

You that is not realistic right? People are going to keep using custodians, so we should use the best available technology for that (ecash)

You are free to help corporations, governments and cucks. I prefer to use available resources to improve self custodial UX. Compliant ecash already exists since years:

GNU Taler Documentation — GNU Taler

It's a bit different. Taler identifies merchants.

Remember that mints are not obligated to KYC

Explain this to FBI when they target other mints to comply.

Damn you hit a nerve with this one. I know something works when "people" come out of the woodwork to shit on it. 😂

You know that there are other jurisdictions?

"use my rug factory that I just added KYC to or you're an NPC" yeah real winner argument there much persuade very zap

Bitaxe + ecash =??? Stupid non sense? Or just it unlock something useful?

what did you say? all i hear is screeching.

Is Taler actually being used anywhere?

They are just trying to build something that could realistically work in the world we live in on a larger scale. Some centralization still has a place and a purpose. To me, it also depends on WHO you are trusting to be the centralizing entity. And what choices and say you have in that process. Seems like when you get into the weeds of it and really dig into functionality, (which I have not and am not technically capable, but i’m goad there are those of you that do/can!) these mints are our only real solution right now. I like the effort and dedication that these people are putting into finding real world solutions for the industry instead of the normal “legacy” solutions. Bitcoin can’t scale itself as is. I just think you’re pointing your barrel at the wrong people for the wrong reasons.

Mints are legacy solutions. They are no different than banks taking gold and printing paper notes in 1600s. Even the privacy is exactly the same, cashu also has bank note denominations. How did banks end up?

Yea but i thought with this, like fedi, you can choose the mint right? You can mint for your own family only, or Jeff down the street can create a mint for the town or neighborhood, or you can make one for your gaming club and everybody just pays each with cashu. It all just depends on who you trust. (That includes trusting yourself to be your OWN bank in the bitcoin world right?). And you trust and know Jeff or yourself, but not big bankers who come into your town. It just makes it easier to “create your own” bank instead of relying on “The Bank” 🏦 or other centralized unknown entities. People can make their own money and rely on each other INSTEAD of those legacy solutions. But also i’m just an observer of people trying to make and build extraordinary things and solutions and can’t really do it myself or fully understand. Just trying to make sense of it all haha

There is an advantage to scale. Big mints are much better. That's why everyone uses WoS it's so efficient. There will equivalent of WoS size mint that will end badly. Small mints end up no better than just paying by lightning directly. Maybe like if you have a family you have one channel instead of five but at that point ecash might be disadvantage because of eg recovery after loss it might be better to be fully open and trusted

You read my mind, anon. I am building it. Check out my talk: View quoted note →

I don't talk about bitaxe at all but my end goal is to mine sats from your bitaxe directly to your nostr account.

Oh, nm I do give bitaxe a shoutout.