Rob Woodgate's avatar
Rob Woodgate rob@nostrly.com 5 months ago
The Bitcoin "layers" are networking protocols, not financial layers as you define them: L0 - Internet protocol stack L1 - Bitcoin protocol L2 - Bitcoin scaling protocols L3 - "Applications" (DApps) image Cashu tokens are ecash (digital currency), not credit. They’re bearer assets backed 1:1 by Bitcoin on Lightning, not debt-based tokens. Over-issuance by a mint is a trust issue, not a protocol feature - like Coinbase mismanaging Bitcoin wouldn’t make Bitcoin credit.
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JackTheMimic's avatar
JackTheMimic 5 months ago
Lol, okay. Again, I am referring to money not some tech bro 4 layer burrito. These layers (I am referring to) apply to gold (L1), Dollars (L2 [prior to 1971]), and treasuries (L3) as well as Bitcoin. As far as the trust, if you CAN do something, people WILL do that. I never said it was a feature. I am explicitly saying it's a bug. Because of the previous trust issue, it can't be claimed that they are 1:1 backed precisely because of the ability to over-issue.
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