calle on nostr

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@calle 1712585786

Idk if people are ready for this, but I believe the world is. First tests of USD Ecash. Backed by BTC.

Everyone can run a mint. Everyone can make a wallet. USD can be spent everywhere BTC is accepted. Open protocols all the way down. No gatekeepers. This is only possible because of the permissionless nature of Bitcoin.

You'll zap USD on Nostr and you'll be happy. It's going to be so insane.

6993❤️201🤙57🔥18👀15🚀7🧡6

Jonathan · 98w

Where is the USD held? Does it use a lighting node still to keep record of USD balance? How does the mint know the USD balance being deposited for Ecash is valid? Will it accept USD from any source?

Can you explain like I’m 4.2 years old

nostr:note12s8r5055tdnhw0p7ndapvy2t9ehu385elz39uym50mu40mdjawqqxgxf5r

The landing gear · 98w

Lighthouse · 98w

So the price doesn't change in terms of USD? Its the same picture

nostrich · 98w

Sounds great to avoid objoxious KYC and to transact offline a thing that's common everywhere (cuckbucks)

Stories for Satoshis · 98w

Trying to work out how to think about this.

Don't Believe The Vibe 🌱🍋🍊 · 98w

How is the shitcoin backed by BTC?

Amazing, is this USDT or an ecash token denominated in Bitcoin

SovereigntyQuest · 98w

Do it for gold...

Now my mind is racing on how to do confidential assets for ecash... Imagine the same anonymity set across users of all kinds of different assets...

nostrich · 98w

This will end like all the other custodial "experiments". Human nature is too strong a force to be thought of as easily manageable.

Wait... Stable sats? As in BTC that more or less pegs to USD. Or just some other USD stablecoin?

Tetsu Tamasi · 98w

THIS IS THE REAL ECLIPSE 🔥☄️

d0enakalle🐇⚡ · 98w

Moving too fast. It will break things.

“USD can be spent everywhere BTC is accepted” Do you mean everywhere Cashu is accepted? Or does this work with lightning as well?

Sondre | satoshiconsult.com · 98w

This is very impressive! You’re a productive man, nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg

KalonAxiarch · 98w

The world is ready, we just have to spread the word! Here's my small contribution, feel free to share 😉 : https://m.primal.net/HsMt.mp4

btcschellingpt · 98w

Don't stop you beautiful beast 🧡 🔥 ⚡

BrightSats · 98w

jack (n/acc) · 98w

How is it backed by BTC? Is it similar to synthetic USD? https://blog.bitmex.com/in-depth-creating-synthetic-usd/

This is beyond insane.

Alekandar Svetski · 98w

This is very cool!!

Is there a writeup for how this works?

Satstack 𓆀⚡︎ · 98w

I tested it today 🤙🧡 Amazing 😉 https://primal.net/e/note1mjl27ukfgs3gx58vflu7vjkz4udhhzetv6xx2vl68e3cm7cf7xqqrpx44w

John Doe Nakamoto · 98w

TheWildHustle · 98w

These are funny times, the wildcat banking era has returned with a vengeance

PirataCuervo · 94w

Tether peeps not gonna like this

BitcoinMike · 86w

Wow can you walk someone through this ?

Papa Figos · 86w

What happens to the BTC-backed USD when BTC crashes 80% and the mint has no collateral to back its debts?

Really cool - nice work. Is there more info anywhere on how the backing is achieved/maintained and what the trust assumptions are of said operations?