cmd on Nostr: Can someone sell me on why running an ecash mint is better than a vanilla custodial ...
Can someone sell me on why running an ecash mint is better than a vanilla custodial lightning service?
- Each ecash transaction must go through the mint to change hands, so the server can see everything and strongly correlate your payments anyway.
- You have to backup and store your coins or they are forever lost. The mint can backup your state, but that further strengthens the above.
- You have to use an ecash wallet instead of just a vanilla lightning wallet. A custodial wallet can have zero state, while an ecash wallet has to manage a lot of state. An ecash mint also has to bridge lightning payments if other users want to pay in lightning.
The plus side I guess is that the mint doesn't have to worry about strict accounting, while a custodial lightning server does. And there is some privacy benefits, but it's a complex subject and far from anonymous.
Please help me understand the use-case for ecash. I don't care about politics or the regulatory bogeyman, I just want to throw up a custodial wallet service that does its job with minimal friction. I want to have great user experience and ease of deployment (for others to fork my service).
- Each ecash transaction must go through the mint to change hands, so the server can see everything and strongly correlate your payments anyway.
- You have to backup and store your coins or they are forever lost. The mint can backup your state, but that further strengthens the above.
- You have to use an ecash wallet instead of just a vanilla lightning wallet. A custodial wallet can have zero state, while an ecash wallet has to manage a lot of state. An ecash mint also has to bridge lightning payments if other users want to pay in lightning.
The plus side I guess is that the mint doesn't have to worry about strict accounting, while a custodial lightning server does. And there is some privacy benefits, but it's a complex subject and far from anonymous.
Please help me understand the use-case for ecash. I don't care about politics or the regulatory bogeyman, I just want to throw up a custodial wallet service that does its job with minimal friction. I want to have great user experience and ease of deployment (for others to fork my service).