How does a user know which mints they can trust? What safeguards are built in to prevent losing funds due to bad actors? These are still unanswered questions in my book.
I think people are using in the wrong way these public cashu mints.
A good example of using cashu mint is @Cuba ₿itcoin.
They created a local community mint and promote it around their merchants and users. That add a good trust level and communication between users. I think this is the main utility for a cashu mint.
If you do not have a local community mint, and you have to use a random public one, then better use these lists and choose wisely:
- https://audit.8333.space
- https://bitcoinmints.com
Use them with small amounts and do not keep everything in just one mint. I hope soon we will have multi-mint spending so will be easier to manage multiple mints.
Don't abuse these mints! I've seen people using them as coinjoin services... that's wrong. Moving around large amounts of sats through mints you are disrupting their liquidity with unnecessary transactions. Behind every mint is a LN node. Not all have a good management of liquidity and you will encounter problems, stuck funds, lost keys etc.
People must understand how mint tokens works, are not just some papers where it says "IOU x sats"... are more than that and are many technical details that cashu devs didn't explained to the end user so well. So do your own research and read how these cashu tokens works.
A good example of using cashu mint is @Cuba ₿itcoin.
They created a local community mint and promote it around their merchants and users. That add a good trust level and communication between users. I think this is the main utility for a cashu mint.
If you do not have a local community mint, and you have to use a random public one, then better use these lists and choose wisely:
- https://audit.8333.space
- https://bitcoinmints.com
Use them with small amounts and do not keep everything in just one mint. I hope soon we will have multi-mint spending so will be easier to manage multiple mints.
Don't abuse these mints! I've seen people using them as coinjoin services... that's wrong. Moving around large amounts of sats through mints you are disrupting their liquidity with unnecessary transactions. Behind every mint is a LN node. Not all have a good management of liquidity and you will encounter problems, stuck funds, lost keys etc.
People must understand how mint tokens works, are not just some papers where it says "IOU x sats"... are more than that and are many technical details that cashu devs didn't explained to the end user so well. So do your own research and read how these cashu tokens works.
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