Justin (shocknet) on Nostr: This rationale highlights my issues with it Custody of small amounts (credit) is ...
This rationale highlights my issues with it
Custody of small amounts (credit) is inevitable in an economic sense, but ECash isn't additive to that at all, while ECashers position them as synonymous despite solving the wrong problems inhibiting broader adoption of Bitcoin as a MoE
It's not more programmable than any other database, it's actually much worse because of the the abstraction from the underlying asset
The privacy benefits are farcical, particularly in the context of small nodes, and treating it as a new payment spec is deleterious to interoperability
If the goal is to have shared friends and family nodes for Bitcoin as a MoE, then Lightning.Pub is superior to mints in every way
Custody of small amounts (credit) is inevitable in an economic sense, but ECash isn't additive to that at all, while ECashers position them as synonymous despite solving the wrong problems inhibiting broader adoption of Bitcoin as a MoE
It's not more programmable than any other database, it's actually much worse because of the the abstraction from the underlying asset
The privacy benefits are farcical, particularly in the context of small nodes, and treating it as a new payment spec is deleterious to interoperability
If the goal is to have shared friends and family nodes for Bitcoin as a MoE, then Lightning.Pub is superior to mints in every way