I see you post this semi-often. Can you explain what you mean? (actually curious for your reasoning, I'm not too familiar with cashu and looking to learn your pov)
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It’s an IOU. The current implementation can just be redeemable and funded with Bitcoin. But you cant prove the reserves at the mint and the mint can rug you. And the mint can run fractional reserves just like your fiat bank.
Ok 🤔 obviously relying on trust, but are you against cashu for more private transactions with pocket money?
I get fired up because I hear prominent bitcoiners talk as if cashu is backed 1:1 with bitcoin. I hear things like it’s lightning with more privacy. These statements are dishonest. Cashu isn’t dependent on Bitcoin in any way. You don’t need to run a node or lightning node. There is an option for mint operators to add a lightning funding source which could be any lightning addresses custodial or non custodial. When you use someone’s mint you are essentially using a group lightning address controlled by the mint operator.
Cashu is just another solution in search of a problem. That’s why I think Calle is pro spam. He wants to clog up the blockchain with dick butts and act like a savior with cashu.
The cashu crowd is a bunch of pretentious grifters.
No lies detected.
nostr:note130arxmk9yx277u9rkjwfh0fxxr7n44a0d36qhmdp2y7vx9x73laq07r4zx
Easier to just use a privacy shitcoin.
Atleast they run nodes.
It's basically a super private IOU that cab be issued against many different types of assets (incl. BTC)
Wait, what else can you ossue against it?