bitkojine on Nostr: idea: “the best” mint is just information. You can keep track of which one is the ...

idea: “the best” mint is just information. You can keep track of which one is the best on a ledger. If they rug or KYC, all existing tokens would become valid at the second-best mint.

quoting note1uef…xyct

Ecash mints are programs for running a mini central bank where people can deposit bitcoin, redeem it whenever they want, and in the meantime they get fast and cheap transactions with other users of that mint. They are pretty neat, especislly their privacy properties, but they come with most of the tradeoffs of custodial systems: the mint can steal anyone's money whenever they feel like it and can dmstart KYC'ing its users at any moment