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57 sats \ 3 replies \ @gowith 6 Dec 2022 \ on: Taro's Impact on the Lightning Network bitcoin
Is anyone else concerned about bringing non-bitcoin assets onto the lightning each will have its own regulatory concerns?
Right now lightning nodes are not money services businesses, nor do they engage in transmitting or exchanging equities. They purely move commodities. Is it worth messing with this when we have stuff like Strike that already serve this use case perfectly?
How Taro works is that the "assets" are only moved at the edges.
(Sender)LNUSD->SATS->SATS->LNUSD->LNUSD(receiver)
The only people that need to touch the asset for the person to receive it is the first person and the second to last person. All hops in the middle will only route sats. No one uninterested in routing other assets has to.
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Bitcoin doesn't need any shitcoins ever.
Shitcoiners' only mission is to dilute the supply of BTC by convincing people to buy into their shitcoin scams.
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There is definitely some concern among Bitcoiners, but also some who see the upside outweighing the risks. Feels like this is one of the issues that will be heavily debated in the coming years.
Also, you’re right that Lightning nodes aren’t viewed as money service businesses today, but what’s to stop a regulator from labeling them as such when volumes start to get really big?
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