Banks started as fully backed custodians of gold. The temptation to issue more unbacked claims is unstoppable. If cashu mint gets big and important nothing can stop fractional backing the same way as social media and YouTube and whatever eventually own and screw people that build business on top of the platform.
The success of cashu would inevitable be its demise.
We can all of theories that might work when cashu is meaninglessly small and users are idiologically invested.
Big success leads to 99% of people and businesses not caring about ideology but they will simply be practical in the short term
BitcoinEagle.dev /
npub1xt…jc9qz
2024-11-12 07:47:52
in reply to nevent1q…duqw
Author Public Key
npub1xttwehd36sm5dndash9cxw6mgcql9v0scdy2exu3ke4m30du43cqajc9qzPublished at
2024-11-12 07:47:52Event JSON
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"content": "Banks started as fully backed custodians of gold. The temptation to issue more unbacked claims is unstoppable. If cashu mint gets big and important nothing can stop fractional backing the same way as social media and YouTube and whatever eventually own and screw people that build business on top of the platform. \n\nThe success of cashu would inevitable be its demise. \n\nWe can all of theories that might work when cashu is meaninglessly small and users are idiologically invested. \n\nBig success leads to 99% of people and businesses not caring about ideology but they will simply be practical in the short term",
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