156 sats \ 3 replies \ @DarthCoin 10 Dec 2022 \ on: TARO on lightning network bitcoin
I have the same feeling: taro is a trap.
I think the main idea was to be used by financial institutions, companies, that want to issue some kind of financial assets, instruments etc. But not for normal users, the mortals that use sats to buy a coffee.
People have a wrong idea about Taro and think that is kind of "new money" or stablecoins, but is not. That will not stop speculators to create some kind of bullshit crap tokens with Taro and sell them later to clueless newbies, that only want to speculate.
This can go wrong in many ways. All those assets can be created with Liquid sidechain and for that was created Liquid. They can do whatever they want on a sidechain, without affecting in any way the PAYMENT NETWORK (LN).
But yeah, why we should not shit on something that start working? Let's fuck around and create a monstrosity over LN.
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20 sats \ 0 replies \ @om 11 Dec 2022
They can do whatever they want on a sidechain, without affecting in any way the PAYMENT NETWORK (LN).
LN can in principle cross chains and I don't see why not. But I agree that assets should be issued on sidechains. Bitcoin has so many nodes to escape regulatory capture, but with a regulated issuer such as Circle that is moot and a waste of precious blockspace.
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12 sats \ 1 reply \ @NorthKoreanHostage OP 10 Dec 2022
I'm glad others have figured this out. And that's what worries me because you know scammers are busy iterating away to find every possible form of scam.
It's like the future already happened if you read far enough ahead.
Now, as for the only possible benefit I see from this is running the NYSE using TARO where the stocks are traded using lightning channels, using sats for liquidity.
Now that's something that would be cool and funnel a tremendous amount of economic value into Bitcoin.
This is something I'm just now seeing for the first time and it's something I did not ever suspect until now. This might be huge if we can keep scammers away.
Is TARO how we put bananas on the Blockchain?
We just need to make sure this goes in the legit direction instead of the scam version.
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1 sat \ 0 replies \ @DarthCoin 10 Dec 2022
Always have in mind my warning... and think about "qui bono" from all that ?
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