Anton Isidore on Nostr: This is very interesting idea: basically you implement decentralized ...
This is very interesting idea: basically you implement decentralized https://settleup.io/
Where groups can openly connect and disconnect and debts can be bought and sold.
Hynek pays for my beers and I give him my IOU (cashu tokens) in return, because we don't share a LN channel. Next time he goes out with my friend Theo who pays the bill. Because Theo trusts me, Hynek can pay him with my IOUs (cashu tokens). Theo has big & fat channel with me and immediately settles the dept by claiming IOUs for LNsats that Ihave issued to Hynek.
And the beat part: we can automate this. When Hynek pays to Theo, the app can figure out, that best (most fee efficient) way is to give my IOUs to Theo, because Theo (his app) will share to Hynek who he trust.
There are technical changes tho. To make this work automagically everyone has to be able to operate good mint (always online). However, there is nice auto-clearing mechanism. If your mint is shit, you lose your cred and noone will accept your IOUs. This can be automated as well.
See, everyone can be theis own bank with Bitcoin, but he'll, can everyone be their own FED?
Where groups can openly connect and disconnect and debts can be bought and sold.
Hynek pays for my beers and I give him my IOU (cashu tokens) in return, because we don't share a LN channel. Next time he goes out with my friend Theo who pays the bill. Because Theo trusts me, Hynek can pay him with my IOUs (cashu tokens). Theo has big & fat channel with me and immediately settles the dept by claiming IOUs for LNsats that Ihave issued to Hynek.
And the beat part: we can automate this. When Hynek pays to Theo, the app can figure out, that best (most fee efficient) way is to give my IOUs to Theo, because Theo (his app) will share to Hynek who he trust.
There are technical changes tho. To make this work automagically everyone has to be able to operate good mint (always online). However, there is nice auto-clearing mechanism. If your mint is shit, you lose your cred and noone will accept your IOUs. This can be automated as well.
See, everyone can be theis own bank with Bitcoin, but he'll, can everyone be their own FED?