goatmeal on Nostr: telling on himself. cashu is a bearer instrument system with no built-in technical ...
telling on himself. cashu is a bearer instrument system with no built-in technical mechanism that prevents a mint from issuing more tokens than they have in bitcoin reserves. mints can operate with less than 100% backing and may never be caught doing so. this is an attack on bitcoin because it enables custodians to covertly circumvent the hard cap.
Sometimes I wonder what would have happened to Bitcoin if Satoshi hadn't chosen a hard cap but instead an ever-growing supply.
Published at
2024-11-29 04:08:42Event JSON
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