Today was a stressful day. Our electrician is Iranian. His wife and 2 kids went to Tehran 10 days ago to visit family. They cannot leave.Tomorrow Tehran is scheduled to shut off the internet. We were able to get her money through an on the ground broker. We had to send TRC-20 USDT which I have avoided like the plague. But after swapping, and defying, and sushi'ing or whatever tf, we finally got her money in hand. Stablecoins shine more than bitcoin in immediate conflict i guess? Can someone please explain why Bitcoin could not have done this? During conflict are people that worried about overnight price exposure? Very surreal experience. I feel like i need to learn ALOT more.
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119 sats \ 0 replies \ @cryptocoin OP 18 Jun
Related:
Cyberattack on Iranian Sepah bank claims to have erased bank records
#1008496
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42 sats \ 1 reply \ @standard_sats 13h
Bitcoin has smaller network effect to stables and dollar in general. Hard to swallow pill.
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0 sats \ 0 replies \ @cointastical 11h
That's why these bitcoin circular community projects are so interesting to watch (and support).
It's simple -- when bitcoin is the currency in which income is received, it's senseless to convert to fiat simply to spend in fiat, or a stablecoin, when when expenses can be paid in bitcoin.
Currently hopeful that Tollgate (bitcoin-enabled hotspot) creates the opportunity for many to be able to begin earning in bitcoin.
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21 sats \ 1 reply \ @spiderman 19 Jun
The apparent success of stable-coins, to me, represents the inertia of status quo, where the USD (or its derivatives) are still more liquid and better recognised assets than Bitcoin.
After all, Iran (unsurprisingly) is not really at the forefront of Bitcoin adoption, and even if someone has like 100 BTC in Iran, he probably has no way to spend it there. So probably they recognise USD more than Bitcoins.
I am not an OG< but all it shows, is that we are still early, very very early.
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21 sats \ 0 replies \ @standard_sats 13h
It is on forefront. Remember articles from years ago about booming bitcoin mining in Iran.
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21 sats \ 4 replies \ @grayruby 18 Jun
You can send USDT over lightning
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71 sats \ 0 replies \ @standard_sats 13h
You could send USD over Lightning without USDT but our fiat channels tech is on pause.
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61 sats \ 2 replies \ @south_korea_ln 18 Jun
That's live and running? I haven't really followed rgb and lightning labs lateat announcements... It's tether partnering with taro?
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152 sats \ 1 reply \ @grayruby 18 Jun
I wasn’t sure what was going on with that either but then I searched about it and apparently you can send usdt over lightning with speed wallet. I had never heard of that wallet or used it so definitely not an endorsement. Just relying the info I found.
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61 sats \ 0 replies \ @south_korea_ln 18 Jun
I saw the lightning labs logo under their partnerships, so must be taro then...
They also do usdt on eth and tron.
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15 sats \ 0 replies \ @cryptocoin OP 18 Jun
https://xcancel.com/gladstein/status/1935190674602971504
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