Bitcoin.Review Podcast with NVK & Guests

BR031 Cashu & Fedimint: ecash, Bitcoin's layer 3 & scalability ft. Calle, E Sirion, Rijndael & Odell

Apr 11 2023 • 2hr 15m

Show Notes

I'm joined by guests Calle, Eric Sirion, Odell and Rijndael to discuss ecash.
Discussion Topics:

00:01:30 Guest introductions
00:02:59 Chaumian ecash origins
00:08:04 ecash integration with monetary networks
00:13:49 Technicals of ecash
00:23:17 Supply and auditability
00:27:07 Is ecash the third layer of Bitcoin?
00:33:48 Cashu
00:38:12 Fedimint
00:45:09 Federated signing and sovling the double spend problem
00:51:26 Fedimint tradeoffs
00:55:24 How does the federation work?
00:57:34 Fedimint denomications problem
00:58:44 How is a federation formed?
01:03:49 Comparing Fedimint to liquid
01:07:55 Ease of use setting up a mint
01:10:14 Running a federation/setting up a mint
01:18:26 The open source movement
01:24:03 Proof of reserves in ecash
01:39:35 Onchain vs lightning mints
01:42:21 Auditability and proof of liabilities
01:45:04 Fedipools
01:51:08 Scriptable ecash
01:59:36 Nostr + ecash
02:03:52 Naming ecash units of account
02:06:26 ecash integration and intercompatability
02:11:49 Final thoughts

Notes & Resources:

Fallacies of distributed computing [Wikipedia]
Fedipool: Fedimint Could Mitigate Bitcoin Mining Pool Concerns [Odell]
Fedimint [Website]/ [Github]
Fedimint Primer [Bitcoin Design]
Cashu [Website]/[Github]
Nutstash
eCash for Better Bitcoin Privacy [MAX MONEY 21M]
Cashu Tutorial - Chaumian Ecash On Bitcoin [BTC Sessions]

Links & Contacts:

Website: https://bitcoin.review/Podcast
Twitter: https://twitter.com/bitcoinreviewhq
NVK Twitter: https://twitter.com/nvk
Telegram: https://t.me/BitcoinReviewPod
Email: producer@coinkite.com
Nostr & LN:⚡nvk@nvk.org (not an email!)

Full show notes: https://bitcoin.review/podcast/episode-31

Activity

@scarcity

50,000 sats

Apr 18 2023

wen Flipper Zero discussion

@apemithrandir

7,777 sats

Apr 13 2023

v4v

@mrmr

7,747 sats

Apr 15 2023

best/latest FEDIMINT re-summary. THANKYOU! proof-of-punch. like it. layer? i vote it's layer 1.5 .. why? 'cause lightning (layer 2) is not really auditable, where-as the possibiity of 'periodic attestation' with fedi (etc) is even closer to on chain [proof of reserverves]. as for key/mint epoch's ... you little beauty ... you've done it. BRAVO!

@user23289184216146

Apr 18 2023

128 sats why😥

@vake

3,000 sats

Apr 12 2023

🔥

@mrldotsh

1,500 sats

Apr 23 2023

🧡

@user6922064308440180

1,021 sats

Apr 23 2023

Awesome work! Have already seen someone asking for a Cashu mint in the Baltic Honeybadger 2023 Telegram group. Would love to see ecash in action and actually use it at a conference

@btctotoro

1,000 sats

Apr 14 2023

grear episode thank you

@wartime

777 sats

Apr 13 2023

🍻

@michaelmatulef

500 sats

Apr 19 2023

Another great episode! Thanks for trying to simply for the plebs 🧡💜🧡💜