Nostr View

In case anyone is still confused about nuts or what it means and why we always talk about it (me today haha), here is my know-nothing dummy explanation and why this is a big deal IMO: Cashu is an ecash protocol(is this correct?) created by nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg People are calling them nuts because cashews are nuts... get it? The terminology is irrelevant. They can be called tokens, air, water, chicken teriyaki.. it really doesn't matter! What matter is that this is a Layer 3 payment system that transfers tokens at the speed of light (or so I think). Lightning being layer 2, and bitcoin being layer 1. The reason why this is a significant development is because now everyone has a cashu address. Thanks to amazing work by the legendary nostr:npub1mhcr4j594hsrnen594d7700n2t03n8gdx83zhxzculk6sh9nhwlq7uc226 , if you go to npub.cash you can see that you already have an address to receive these layer 3 tokens, which just happen to be easily redeemable into lightning. This means that any new person who joins nostr automatically has (custodial) layer 3 payment access, which can swap into layer 2 and into layer 1 and into fiat if need be. I don't know any of the underlying mechanics of this, I am not a genius like nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg and what I have described could be incorrect, but it sure feels like this is roughly how things work. Nuts are custodial, meaning a mint is holding your balance and can look up your npub to see if you have some. Once called upon, these nuts can be sent to another nutter (cashu wallet) or directly to a lightning address! This interoperability makes everyone a layer 2 user. All we need is a clever UX toggle / button / terminology to make it really obvious. IF this were to be turned into a library that devs could include in their client code and "it just works", THEN it could be a game changer! No more directing people on how to get a wallet right as they join. They can experience the magic of bitcoin indirectly via layer 3 > layer 2 transfer all without knowing anything (as long as they can get on nostr). In practice, this means anyone joining an audio nest, a zapstream, a flare.pub can automatically get paid. Yes, it's just tokens, and yes it's centralized and custodial, BUT, they see the value instantly and are only a click away from digging deeper. It's a STEPPING STONE that makes it significantly easier to get onboarded into the new paradigm. I have not been this excited since the discovery of nostr itself! If I'm mistaken somehow, or don't understand things correctly, please let me know and forgive my dumbass 🤣 And if this means what I think it means, then let's make magic happen!

Owen @Owen - 9mo

Do you know, what kind of rugging abilities does the mint have? Can they steal or use your funds, or can they only rug you by say shutting down the mint (resulting in you losing tokens). This is the part that im unclear on so far

xiangcai @xiangcai - 9mo

we need ppl like you to tell more about this great thing in a non technical way🫡

Karnage @Karnage - 9mo

A question for nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg I think ecash should be treated as cash - you never want to carry too much of it around, and certainly not store it with a custodian. I imagine a mint can take all the nuts if it wants to just by shutting down, this is why it would be important to have trusted mints, perhaps mints tied to trusted clients (popular client having its own mint). If possible, you'd rotate which mints people are assigned as they join so you don't have a concentration in a handful (make the rug less painful). But for the most part, it would be on the part of the UX designer to ensure people know not to keep any significant nut stash for too long with a custodial mint.

Karnage @Karnage - 9mo

you don't need a username, it's more of a novelty. You can get nuts directly to your npub, here, I'll send ya some now.

Karnage @Karnage - 9mo

Thank you for this!

a1c19 - 9mo

Sure thing! Correction in the last sentence. ***since mints blindly sign cashu, when issuing or authenticating them. Note that, a mint will only accept a cashu for redemption if it recognizes its own blind signature on the cashu

Owen @Owen - 9mo

Gotcha, so a bad actor mint cant spend my nuts?

Jer @Jer - 9mo

I’m still very confused on how to send and receive.

Karnage @Karnage - 9mo

Don't worry, you are EXTREMELY early to this. Currently it's being developed as we speak and is literally a testing ground for what can be. All of the UX will improve massively over time I think. To receive you can just share your {npub}@npub.cash or claim a username so you can do something like [email protected] and people can send you that way. You also have a public page you can share. If you register a username you can be npub.cash/pay/jer See mine here: https://npub.cash/pay/karnage To spend, you can send to another address just like yours, or to anyone with their [email protected] As I said, the UX is rough because no client has any buttons for this at the moment besides 0xchat I think. That's how early we are.

Jer @Jer - 9mo

Thanks for the reply. I’ve been playing with eNuts (feels interesting to say) for a a week or so. I think this is great and look forward to watching it grow. I’ll send you some nuts as a test/thanks.

Karnage @Karnage - 9mo

My pleasure! I sent you some btw. If you go to npub.cash and connect with a nostr key manager extension, you’ll see your balance.

Brunswick @Brunswick - 9mo

I look at cashu tokens more like transferable rights to transmit sats from a lightning node.

The: Daniel⚡️ @The: Daniel⚡️ - 9mo

Karnage @Karnage - 9mo

I am not sure what you mean by set up? If you mean getting paid, just go to npub.cash and use an extension to access your balance. You don't need to set anything up. But if you mean client integration - that's up to devs to do or not do.

Karnage @Karnage - 9mo

You can look at it any way you like 👍

Karnage @Karnage - 9mo

A cashu node is just a lightning node and has all the same incentives as a lightning node because it IS one.

calvadev⚡️ @calvadev⚡️ - 9mo

💯

mrecheese 🧀 @mrecheese 🧀 - 9mo

My plan is to set up a mint for friends and family. I onboarded some people to WOS right before they bailed on the US app store. Never again. I know I won't rug my friends intentionally, and if I do it unintentionally I can make them whole again. When they get enough sats, they can move to Mutiny, Zeus, or similar. It's interesting enough to make me fire up my private lightning node again, which is saying something.

mrecheese 🧀 @mrecheese 🧀 - 9mo

I'm doing Start9 BTC/LN nodes and LNBits with the Cashu extension added. It's easy enough as long as your Cashu wallet can access the mint via Tor.

calvadev⚡️ @calvadev⚡️ - 9mo

💯

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