I'm testing the first on-chain Cashu mint running inside a Trusted Execution Environment (TEE), where the mint keys are generated entirely within the enclave and remain unknown to the operator.
That means the operator cannot inflate the ecash supply and cannot access the Bitcoin reserves backing it.
I like the idea of the mint operator not being able to steal the mint's sats but they can still turn off the mint...or screw something up and nuke the sats. I don't know how you get around that.
But, this sounds kinda cool.
I don’t understand why this is huge?
@justin_shocknet we need your breakdown !
Well, @calle is the one who said it was huge, so there's a starting assumption that one thinks ecash is a good thing.
I believe this is a way of proving what software is running, so it would e possible to demonstrate that a mint is running software that created a bitcoin key to which you could deposit sats and which key was not known by the mint operator.
It is cool if you don't mind the idea of trusting your sats to a mint, because it makes it so that the mint operator has less incentive to rug. It is retarded if you think ecash is a bad idea.
But from a user standpoint how is someone is supposed to know how the mint was created?
I believe users can verify an attestation that proves what code was running when the mint was created.
TEEs aren't lightning nodes, the operator, in order to... you know ... actually operate the thing.. has the ability rug. If they can't rug, you can't spend.
The keygen is irrelevant, nodes use an rpc. Something has to do the lightning to shitcoin swap in memory.
Standard Calle fraud, if he's tweeting he's lying. Never believe a communist.
Would it not be possible to run a mint in a TEE and let people have their non-trusted exit via an onchain transaction? this of course would mean they would need to keep a balance large enough to make an onchain transaction (but this is similar to other trustodial setups like Spark and Ark, I think).
Also, what about running the lightning node in the TEE as well?
If the TEE is a black hole, like how Spark says "trust us we deleted the key", a chain node might be able to run autonomously
That's its own type of rug risk because if anything whatsoever breaks, like an outdated cert or corrupted file, no one can fix it
Lightning nodes are too high touch to be a black hole
Since hosted chain wallets are useless given self-hosted chain wallets don't have the same infrastructure overhead of lightning, that's purely masturbation. Sats can't trustlessly be credited via LN deposits.
That's the big red flag to me. Wither it is true or it is ruggable. And if it is true, who is going to feel comfortable leaving trusting sats to this?
It's retarded, typical Calle hyping larp playbook
😆
There are some who call Calle and cashu a scam but it's my guilty pleasure,
I hope that cashu can evolve into something worth accepting without critics shouting 'anon set'
I too enjoy ecash. Fun energy.
Have you got a square terminal retailer near you? I've still got 14k locked sats that need testing if they can be spent? Want some sats?
I'm sure there are a number, but you should just hang on to them until you find one.
they have an expiry date lol
I can't give these fucking things away 🤣🤣🤣🤣
Right fuck it im posting 2 cashu invoices here in this feed, if you want them take them, if you don't gfy
As opti says, mid June cut off use by date
Incoming.....
anon sponsoring scraper bots
Couldnt even paste it here, text limit lol
According to what's been said, a Mint owner banks the sats in a limbo where he can only shut down access completely but can't steal them. Ending it all would be self-defeating for him and a donation to Bitcoin. Is that right?
Kagikai uses nostr and MBI tech to achieve a more decentralized approach.
First.
I'm curious about this:
I've looked at it as an option and it requires a bit of work as the way the keys are sent and constructed aren't an easy conversion. It could be done but there may be fees to reconstruct the multisig. I was looking at funding the wallet bitcoin balance with ark or lightning in future.
It's kind of both - it's 2of3 but not like ecash where there is trust required for the issue, and more like 2of2 as in ark but without requiring a coordination server or arbitrator.
Min amount is the bitcoin tx amount, it's not competing with micro transactions of fractions of cents, I've set it at 2000 sats at the moment, 1000 or smaller can be done but you have to batch the sweeps or everything disappears with the mining fee back on chain. It's meant for everyday purchase of a coffee or shopping online.
I think it could be used for tipping as it would make being a content creator viable. Kind of like busking where gold coins or notes are expected because giving them a stack of your unwanted silver coin change is a bit of an insult ;)
https://twiiit.com/kagikaiapp/status/2050079005630714201
I like to see stuff like this. I've always had a soft spot for cashu despite the custodial nature for reasons mentioned by others (simple UI, fun energy etc.)
Ive also always liked the idea for ephemeral mints (only active during an event or specified time frame) and wonder if the protocol would allow something like that to work in a now unruggable way. I suppose the main issue with this is the mint needs to know where to return leftover sats at the end which might defeat the privacy aspect.
E.g. mint exists for X number of blocks, then all remaining sats return to specified LN address per user
Maybe Fedimints running TEEs solves this?
I like cashews are these fancier
Cash sounds super interesting. Heard about it on a few pods. I need to dig in
One mint plz
https://twiiit.com/callebtc/status/2060457737184784662