Exactly.
Here’s a scenario:
I’m a brand new ecash user. I download wallet called Joe’s Ecash-O-Rama. It’s really slick and has good UX. I proceed to use it for a few weeks, get a bunch of zaps, onboard some friends and family members onto it. Then one day Joe disappears, his node goes offline, the wallet is unreachable, and everyone’s sats are gone. Now, not only do I feel scammed, but so does everyone I convinced to use it.
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SO YOU LIMIT THE MAX SIZE TO BE REPRESENTATIVE TO THE EQUIVALENT OF SOMETHING LIKE 5,000 USD SOMETHING FOR TOTAL MINT SIZE…??
This is how retarded cashu is. Joe doesn’t have to run a node to run a mint. Cashu is not dependent on Bitcoin in any way. Lightning addresses are the only optional field to add Bitcoin support in any way to a mint. That lightning address can be a custodial or non-custodial. That means someone could run a mint with a wallet of satoshi address. Which means the mint operator themselves can be rugged by the custodial wallet provider they used as a funding source for their mint.
Someone can download fake sparrow wallet and lose their on-chain funds as well. Real bitcoin doesn’t sound safe either.
I can run my own mint... For myself.
No one is rigging me but me.
