Beerborn on Nostr: They are not safe from rug. The main difference with a bank on that regard is that ...
They are not safe from rug. The main difference with a bank on that regard is that mints cannot rug one specific user, but they need to rug everyone. Mints aren't trustless.
They can make money out of fees to incentivice the operators from operate benignly and there is(are?) some script(s) running that goes trying to redeem IOUs to blow the whistle for possible rugs.
All these applies to both cashu and fedi mints, the difference being fedi mints are multisig and require several guardians to collude to rug.
Published at
2024-11-11 23:30:43Event JSON
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