hubertus on Nostr: This needs more nuance, I prefer a risk view: 1. Ecash gives 'cash' finality on ...
This needs more nuance, I prefer a risk view:
1. Ecash gives 'cash' finality on counterparty risk just fine.
2. Yes, there is mints' issuer risk but that's a different matter altogether.
3. Last, sovereign risk on the base denomination, nation states or DAOs whether formalised or informal like Bitcoin.
So better: base money CAN be used as cash – with certain trade offs – but not all cash needs to be base money, it just has other trade-offs.
1. Ecash gives 'cash' finality on counterparty risk just fine.
2. Yes, there is mints' issuer risk but that's a different matter altogether.
3. Last, sovereign risk on the base denomination, nation states or DAOs whether formalised or informal like Bitcoin.
So better: base money CAN be used as cash – with certain trade offs – but not all cash needs to be base money, it just has other trade-offs.