ratel on Nostr: This is really good explanation, I’d like to add that cashu is the money. To ...

This is really good explanation, I’d like to add that cashu is the money. To clarify, when we use onchain funds, then our “wallet” does not hold any coins. Instead wallets actually only sign coins (utxos). On the contrar, mints who issue cashu literally provide you the money. So it’s as if you receive a dollar bill from them, therefore you can store it wherever you like. However, if you want to spend that exact bill, t hen only the same mint that originally issued the cashu will redeem it, because they blind signed it in the first place. So despite the cashu being the money (a bearer token), users still have to trust a mint for them to spend it it the future. Luckily, the cashu project is already working on proof of reserves and other features, similar to those that npub1r0rs5q2gk0e3dk3nlc7gnu378ec6cnlenqp8a3cjhyzu6f8k5sgs4sq9acpointed (npub1r0r…nted) out, like swapping tokens between mints or not trusting only one mint, or only trusting a mint run by a local community