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77 sats \ 8 replies \ @TonyGiorgio OP 5 Apr 2023 \ parent \ on: Introducing Mutiny Wallet: Private, unstoppable bitcoin payments bitcoin
Go educate yourself on what DLCs are. It does not end at our plans to have a trustless contract for difference in fiat terms. It will set the foundation for all DLC related technology that anyone can set terms for beyond currency pricing.
Anything related to a fiat currency or value will be useless.
Is like always going back to fiat, never get rid of it.
If you want to live forever in fiat world (slavery), go ahead.
But I will not.
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Totally agree! What is this micro trend to mix fiat with Bitcoin?? Like really?! Fiat is antithetical to Bitcoin. Any project with fiat integration (real or a representation of it - no matter how it is technologically sliced) puts the organization and or the user in the jurisdiction of the government that owns the fiat. It is still slave behavior.
Don't get me wrong, innovation is still hyper important in this community, so I appreciate the effort, but we all have to be extremely toxic against fiat or it's equivalent even if it is a "representation." Always always stay toxic, my friends.
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There's no fiat ownership here. It's a speculative bet by two users on the price of bitcoin backed 100% by a contract enforced on chain.
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I was watching some of the video on SATSx. Great job! I hear ya on how it is by the initiation of two people in the private that makes this work (The DLCs). As DLCs can be anything in which the two parties wish to bet on. So, this seems to be a good way of getting "stabilization" without a shitcoin.
I still see this as eventually unnecessary (and still "advertising" fiat) as Bitcoin continues to deflate itself over time. This will make Bitcoin gain more and more spending power over time and "fluctuations" in spending power will be almost irrelevant.
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DLCs are more than just stable coins.
DLCs are essentially a 2-of-3 multisig where one party can attest to a certain outcome. In this case it's being used for some sort of synthetic stablecoin, but it could be used for other things like betting on outcomes (sports, derivatives, etc).
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I know what DLC are.
My point is why we have to always go back to "dollars" (in whatever form or expression), when we just have to use sats.
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Because not everyone is you and not every use case is yours. People in third world countries or otherwise extreme circumstances can't afford to lose 80 percent of their purchasing power to Bitcoin volatility. You don't get to your utopian future without connecting all the dots to get there. HODLing is a truly privileged, elite position to be in.
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