shocknet_justin on Nostr: The privacy properties are a hoax too ...

The privacy properties are a hoax too

quoting
nevent1q…kw34

Ecash mints are programs for running a mini central bank where people can deposit bitcoin, redeem it whenever they want, and in the meantime they get fast and cheap transactions with other users of that mint. They are pretty neat, especislly their privacy properties, but they come with most of the tradeoffs of custodial systems: the mint can steal anyone's money whenever they feel like it and can dmstart KYC'ing its users at any moment