vinney on Nostr: Lolol I just accidentally re-orange-pilled myself thinking about this: I was thinking ...

Lolol I just accidentally re-orange-pilled myself thinking about this:
I was thinking about how these bills could be passed around without being redeemed, just like cash. And when you want to redeem one, you can do so. ....And then I realized there would be no way to know if one had already been redeemed when you receive it - so you would want to check with the mint each time you receive a bill to make sure it hadn't been redeemed from the mint.

That seems like shitty UX!
And seems **worse** than paper fiat money.

And then I realized that this is **exactly how paper money works**. It's _supposed_ to be redeemable for gold (and then taken out of circulatin), but you can't really know if the gold hasn't been redeemed yet - in fact, **you can be sure there is no gold at all!**.

In Fiat world, we are essentially passing around ecash tokens that we know have already been redeemed! Hahahaha

This has been another episode of "the kind of anti-fiat pill that only works if you're already anti-fiat pilled". See you next time.

quoting nevent1q…pmvd

What's stopping someone from creating an ecash mint and _literally doing normal mint things_ like printing thousands of physical ecash-tokens-as-bills?

I guess the obvious answer is there's not enough adoption yet in order to **do** anything with the bills... But it would be cool right?