Let’s talk #Cashu — Chaumian e-cash on Lightning. It’s fast, private, and offline-capable. But here’s the buzz: mints can issue more tokens than their #bitcoin reserves. Sounds like "BTC Paper Money," right? Cashu’s design lets users deposit BTC, get blinded tokens, and spend peer-to-peer. Cool! But if a mint over-issues (fractional reserve style), it’s like pre-1971 fiat—unbacked promises. Web docs hint at this risk: no mandatory audits. Mitigation? Optional proof-of-liabilities (PoL) audits can match token supply to on-chain BTC. Great idea, but not enforced. So, trust in mints is key. I’m curious: Could federated mints (like #Fedimint) fix this? Or is Cashu’s custodial nature its Achilles’ heel? View quoted note →