42 sats \ 3 replies \ @rijndael 11 Dec 2022 \ on: TARO on lightning network bitcoin
People who actually use cryptocurrency as a tool want stablecoins. They’re going to exist in the world whether you want them or not. If they’re only available on other networks, then people will install and use wallets for those other networks. Id rather those people install bitcoin wallets that can use bitcoin and their stablecoin.
Also at the end of the day, taro doesn’t require consensus changes and is being built in a permissionless way. If the market finds it useful, it will grow. If the market doesn’t find it useful, it will die off.
Stablecoins aren't about useful. They are unworkable. They will always fail.
I can't believe people are just going to keep trying and failing, until I realized that this is the intentional business model: stealing other people's money. OMG they invented banks.
This is the thing Bitcoin fixes.
The market is too powerful a force for any stablecoin to counter stabilize. Depegging stablecoins is already a sport now.
Just use Bitcoin.
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You know that, we know that, but some people still don't know that (or simply don't want to know that)
Bitcoin doesn't care if some asset on top of Bitcoin is failing. And that's perfectly OK.
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Thank you for your words @rijndael. People talk about educating newbies, but I think we need to start educating first world Bitcoiners on the need of the other 5 Billion people. Bitcoin is first for them and last for us.
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