Damus
Matt Corallo profile picture
Matt Corallo
@matt
If we want ecash to have any hope of working out, we need anonymous mints, but anonymous mints are likely to get stolen. Instead, we need anonymous mints that are operated by one of N well-known and trusted parties. Mint operator(s) should take N public keys known to be from N well-known and trusted persons in the bitcoin space, then create ring sig(s) across those N to reveal that they are one of those N parties, but not which one.

Given many long-timers at one point or another had public donation addresses or some other key that is known to be theirs, this should actually be relatively doable, just don’t put too much money in the mint :)
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Matt Corallo · 125w
Note that this is not my idea, it’s actually a very old idea I believe due to Maxwell.
average_gary · 125w
So a blinded web of trust using nostr keys?
OT · 125w
What about a separate multisig pool with lots of Bitcoin. Mint rugs, they lose the pool
Big Barry Bitcoin · 125w
But then these people are not anonymous, so the mint can still be taken down by government. I don't get it.
gladstein · 125w
Seems like Mutiny is going in this general direction…
tank · 125w
What are the legal risks to the trusted persons being known? e.g. in Germany you need a BaFin license to be a cosigner for other people’s money.
nostrich · 125w
Might there be an incentive for disparate nation states to run a mint?
Melvin Carvalho · 125w
Yes, this works. You just need a 2/3rds honest majority. Harder than it looks, though. Also nostr keys are taproot keys anyway, so that's a good start. The challege comes with spam protection.
UNLICENSED MONEY TRANSMITTER · 125w
isn't fedimints specifically that?
Alex · 125w
It’s one of us but you don’t know who
urza · 125w
Could ring signatures over nostr npubs work?
btcschellingpt · 125w
This is a great approach Matt