pailakapo on Nostr: Yes, the merchant online would immediately "redeem" the token to find out that its ...
Yes, the merchant online would immediately "redeem" the token to find out that its valid and be issued "his own" token or cashed out to lightning.
I think the IP data is a trust thing. The redeemer needs to visit the mint to redeem, so there has to be IP. The mint doesn't have to keep this info, and doesn't have to give this info to authorities, but it ends up being a trust issue.
The cashu model is a trust model anyway. You could get rugged if you don't know your mint operator.
One way I could see adoption is if this is just a noob lightning multiplier. ie: lightning is used/adopted worldwide and not everyone can manage a lightning node. Custodial (WoS) works, but what if Uncle Jim runs a node for the extended family. I would trust Uncle Jim more than rando internet company not to rug me. This exists in a custodial world.
Then the privacy benefits of ecash, along with all the offline stuff that can be done, would push cashu into the mainstream. Like a hundred cashu notes are minted. Passed around millions of times, accepted as currency, never having to touch the mint until they are "cashed out."
I think the IP data is a trust thing. The redeemer needs to visit the mint to redeem, so there has to be IP. The mint doesn't have to keep this info, and doesn't have to give this info to authorities, but it ends up being a trust issue.
The cashu model is a trust model anyway. You could get rugged if you don't know your mint operator.
One way I could see adoption is if this is just a noob lightning multiplier. ie: lightning is used/adopted worldwide and not everyone can manage a lightning node. Custodial (WoS) works, but what if Uncle Jim runs a node for the extended family. I would trust Uncle Jim more than rando internet company not to rug me. This exists in a custodial world.
Then the privacy benefits of ecash, along with all the offline stuff that can be done, would push cashu into the mainstream. Like a hundred cashu notes are minted. Passed around millions of times, accepted as currency, never having to touch the mint until they are "cashed out."