Minibits is a completely different model. Unlike with self-custody Lightning, the sats in your wallet are just tokens representing actual Bitcoin, and are only indirectly connected to an on-chain UTXO so ffar as the eCash mint is being honest about their creation and destruction.
This gives you arguably better privacy than Lightning, but with the downside of trusting the mint. However, they also manage the liquidity for payments outside of the mint, which means you don't have to.
It is a trade-off of trust in order to gain convenience and privacy.
I have also noticed that zappung via NWC is slower with Minibits than when using my own Alby Hub.
Dikaios1517
npub1ku…v3lhe
2024-09-14 19:46:59
in reply to nevent1q…4xw3
Author Public Key
npub1kun5628raxpm7usdkj62z2337hr77f3ryrg9cf0vjpyf4jvk9r9smv3lhePublished at
2024-09-14 19:46:59Event JSON
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"content": "Minibits is a completely different model. Unlike with self-custody Lightning, the sats in your wallet are just tokens representing actual Bitcoin, and are only indirectly connected to an on-chain UTXO so ffar as the eCash mint is being honest about their creation and destruction.\n\nThis gives you arguably better privacy than Lightning, but with the downside of trusting the mint. However, they also manage the liquidity for payments outside of the mint, which means you don't have to.\n\nIt is a trade-off of trust in order to gain convenience and privacy.\n\nI have also noticed that zappung via NWC is slower with Minibits than when using my own Alby Hub.",
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