I understand your perspective if you think of eCash as someone's sole method of interacting with Bitcoin. You're not going to have your life's savings in eCash, and if you are, well, let's just say that you'd be very unwise. There are three areas where ecash is extremely useful: 1) Replacement for Custodial Lightning: This includes services like Alby (before they wisely shifted focus to NWC), Strike, Wallet of Satoshi, etc. For non-technical users, eCash is even simpler to use than Lightning and offers a higher level of privacy. Mints still operate a Lightning node, allowing users to receive Lightning payments. It's also simpler to backup your ecash, or move it to a different device, and it doesn't require KYC. Can you be rugged? Of course! But so can any custodial lightning wallet. 2) Replacement for User Accounts: I'm thinking of a future where Nostr and eCash are a complete replacement for any online account. I don't remember who made this argument originally, might have been @calle , but I thought it was genius. Imagine services like Netflix or Spotify accepting eCash instead of requiring an account. They could run an eCash mint and exchange tokens for Lightning. Users could then pay for n minutes of content with m sats. This method is private, secure, and potentially better. While there is a risk of being rugged, this is already possible with current systems. Netflix, for instance, can close your account for any reason. At least with eCash, you maintain your privacy. 3) Gift Card or Points System: eCash can also be used as a modern gift card or points system, similar to airline miles or loyalty programs. Businesses could issue eCash tokens as part of their rewards programs, allowing customers to redeem them for goods or services. This system would be more private and flexible than traditional gift cards, and it could be easily integrated into existing loyalty programs. Again, while there is a risk of being rugged, this is no different from the current risks associated with gift cards or points systems. At least with eCash, users benefit from enhanced privacy and ease of use.

Replies (1)

In actual practice, custodial lighting is better in everything except user accounts, and even then, it's close. Wait till the states come for e-cash like they have come for lightning custodians.