Thread

The recent discussion with nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg and nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx on nostr:npub10atn74wcwh8gahzj3m0cy22fl54tn7wxtkg55spz2e3mpf5hhcrs4602w3 had me thinking about ecash. I liked the comparison to custodial apps like Venmo/Cashapp and how ecash would be a better alternative for those. I do feel like the risk of the mint rugging you was glossed over though. Like if a large company was running the mint so you could trust them (and your less technical friends and family could trust them) under current laws there is no way aml/kyc wouldn’t be in place. Still interested where things will go. https://fountain.fm/episode/E6v68qtQURtqztfGkU2B

Exactly! The article clearly highlights why custodial setups and regulatory pressures are such big risks. A mint not considered a money transmitter is like a structure built on sand. This is where #ecash and #fedimint really show Bitcoin’s value: privacy and resilience against legal friction. #cashu