Really struggling to see the attraction of eCash on Bitcoin…
The Bitcoin itself is custodies by the mint, so there’s standard custodial counterparty risk. Mint rugpulls = money gone
But also, I have to keep my eCash tokens secure and not lose them, just like Bitcoin self-custody. Lose tokens = money gone
So surely eCash has the downsides of both custodial and non-custodial Bitcoin/Lighting?
Saying the mint would be run by trusted local people is a cop-out, still relies on trust and being able to kneecap someone if they try rug…
1f52b / 1F52B
npub1raf…gns2
2023-04-24 18:16:08
Author Public Key
npub1raftzmju5gq77twqxrumv5gnweew2t0p4v5upv8kku4vsz4j8jzq3tgns2Published at
2023-04-24 18:16:08Event JSON
{
"id": "6e4da06ae7792f314a303fa6b6dec9c7c7bc931cb87f9c399b6e7c4ef1ab8794",
"pubkey": "1f52b16e5ca201ef2dc030f9b651137672e52de1ab29c0b0f6b72ac80ab23c84",
"created_at": 1682352968,
"kind": 1,
"tags": [],
"content": "Really struggling to see the attraction of eCash on Bitcoin…\n\nThe Bitcoin itself is custodies by the mint, so there’s standard custodial counterparty risk. Mint rugpulls = money gone\n\nBut also, I have to keep my eCash tokens secure and not lose them, just like Bitcoin self-custody. Lose tokens = money gone\n\nSo surely eCash has the downsides of both custodial and non-custodial Bitcoin/Lighting?\n\nSaying the mint would be run by trusted local people is a cop-out, still relies on trust and being able to kneecap someone if they try rug… ",
"sig": "d3dd57b7acf3605d2038abf1818bbfd7246503185e88051c78aeda54d4d969ffda1f989a37d0337dafbc521d6947729e0cae73221e5dfc3d9f50bd414878ccaa"
}