Thread

How about lightning nodes

I would say it more specific: lightning routing nodes.

I've always said this about the mints. Maybe it's FUD, maybe not, but it's something to consider. nostr:nevent1qqsqn2mn8rkx5lcr4h08cwd09lcntyug04ukja5f96h7qhquyjqvq6qprdmhxue69uhhg6r9vehhyetnwshxummnw3erztnrdakj7q3qv6qjdzkwgaydgxjvlnq7vsqxlwf4h0p4j7pt8ktprajd28r82tvsxpqqqqqqzzsxzk7

even worse. not just money transmitters but also banks

I would argue that you buy ecash from a mint, whereas a coordinator provides an obfuscation service.

Ecash mint is similar to custodial mixer where you deposit and withdraw. However, mints use blind signatures or tokens instead of accounts.

all these custodial cuck solutions will fold under pressure

i'm not sure where this shit is going because they seem to be trying to claim jurisdiction over all cryptocurrencies. if they try to stop custodial wallets, most will just get VPNs and use them offshore. then they have to chase down VPNs. there will be a coordination problem, ultimately, with trying to do this. if one set of nations tries to ban it, another set have a benefit to allow it. same as bitcoin in general.

Unlicensed banks to be more specific.

What's wild is that Samourai was a non-custodial wallet. Imagine if the government goes after other non-custodial ones like Cake Wallet after this. Terrifying precedent set.

The ecash is a bearer instrument that you purchase with bitcoin. You don't deposit and withdraw. There are no accounts to withdraw from. You redeem tokens which were purchased previously. Unless I misunderstand how it works, I'm an ecash noob. Happy to be educated. nostr:nprofile1qqs9pk20ctv9srrg9vr354p03v0rrgsqkpggh2u45va77zz4mu5p6ccpzemhxue69uhk2er9dchxummnw3ezumrpdejz7qgkwaehxw309a5xjum59ehx7um5wghxcctwvshszrnhwden5te0dehhxtnvdakz7qrxnfk

You purchase tokens by **depositing** bitcoin and **withdraw** bitcoin by redeeming tokens. Never said there are accounts.

If I buy gold from my local gold shop with dollars, give it to my friend, and then he sells it back to the gold shop for dollars, that is me depositing dollars to the gold shop?

USA has been very unfriendly to bitcoin and way too friendly with shitcoins. even europe isn't as unfriendly to bitcoin as USA is.

🐘

Better analogy: https://en.m.wikipedia.org/wiki/Hawala#Procedure

I wouldn't say that about Europe

The ECB is terrified of Bitcoin.

Yeah, tokens are redeemable at the bank but they are controlled by the bearer.