20 sats \ 4 replies \ @TheBTCManual 11 Dec 2022 \ on: TARO on lightning network bitcoin
I have zero need for Taro, if I wanted fiat I would just use cash, its not as if they are running out of fiat anytime soon. alot of these protocls are Ethereum envy and stablecoins already exist if people want to use a digital cross boarder cash
Personally not a fan, but if people want it good for them and they will get bitcoin at the price they deserve
Lightning labs is a tech company so the incentive for them is to "show innovation" or they wouldn't be able to justify new rounds of funding, they're playing the fiat game
Lucky you for not having the need of Taro. What about people in Venezuela, Zimbabwe, or Turkey? Did you thought about the other 5 billion people in the rest of the world?
I love cheap sats and I can wait 3 cycles for adoption, these other 5B people can't.
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Lol I'm in South Africa, I've been to Zimbabwe, people use USD and stablecoins it works for them, they have ways and means of settlement.
Regardless if its USD or my local ZAR or ZIm dollar, settlement is settlement, what you need is a savings tech thats the missing piece, no dollars Taro or not are going to help you save, nor is putting in your local stock market
I don't see the point as an African to tell me oh use another sub par fiat currency which isn't as shit as yours, I want to use the best money and take advantage of greshams law
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Exactly, I think you are making my point. Theoretically with Taro, you will be able to use USD directly without the need of the stablecoin. That is stable today but we don't know if it's going to be stable tomorrow.
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If you're pegging to a stablecoin you're pegging to certain devaluation, so i'm not following, the entire point of stablecoins in my opinion is to speed up clearing times to get into bitcoin.
If you've ever done P2P transactions you'll know what a pain they are and the premiums are pretty hefty, stablecoins use to me is to close that arbitrage
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