Its trying to get noncustodial upside on a custodial solution. Better to work on noncustodial scaling.
The whole point of bitcoin is no trusted third party.
There is a place for ecash on bitcoin, but it's in cypherpunk utopia where regulators don't care about private money issuance and privacy, until then it's leaving money on a darkmarket, where rugpull incentive just builds. By that point we will have easy/cheap transactions with no ttp.
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The best about ecash is payment experience. So running your own private mint on top of you own bitcoin and lightning infrastructure seems pretty seems pretty non-custodial to me. I know this is not the case atm, especially with all the know your mint work, but I hope this is how it turns out.
How is payment experience of convoluted animated qr codes better than just connecting your node to zeus?
What I meant to say was the payment reliability, speed and privacy. Managing lightning channels can be cumbersome at times and especially when your out and about.
If you're running cashu in noncustodial way you still have the channel management pains.
There's an underfunded area channel management. Not as sexy as layer 3 but prob more important.
agree funding is needed here, there was a lot of hype and talk around it a couple of years ago, but the enthusiasm seems gone now.
It's a big tradeoff to make. You get privacy but you also get custodial, so you have to completely trust the ones running the mint. What if you run the mint with people you completely trust or it's inside a community? On the other hand, people could just join a mint and could end up losing their bitcoin because of scamming of the ones running the mint.
It would be great if we didn't need to run a cashu mint or a mixing service but just with a bitcoin transaction e.g. or another simpler development to come.
