106 sats \ 1 reply \ @TheBTCManual 27 Jun 2022 \ on: Do you know that podcastindex utilizes a shitcoin for building postcasting 2.0? bitcoin
I am not 100% sure about the integration, but I have spoken directly to the brian guy you tagged as far as what I read and got from him, the podping is to bridge their shitcoin onto LN rails so users can
1 - Fund their Pod 2.0 wallet with sats from the LN node he is running by sending him their shitcoin or their shitcoin stablecoin
2 - Users of that blockchain can connect their LN address to their Pod 2.0 app and ping the sats back to their hive account in their native shitcoin - having it converted via his LN node
Personally don't see the point of this unless people who use their token are big podcasters and he can net fees from converting between the LN and the shitcoin.
Shitcoin chains are always going to try and jump on the bandwagon whenever bitcoiners do something cool and with Pomp pushing fountain, I can see a lot of shitcoiners trying to do this with their chain.
If they do, all I hope is that they building a tool for their own demise, because all this is is someone allowing you to swap a shitcoin to LN making it easy to drive shitcoin liquidity into LN
The integration is described here in more detail:
https://peakd.com/podping/@brianoflondon/is-podping-on-hive-a-new-internet-protocol
I was only bothered by all the claims:
Podping on Hive represents the first way to send a short message to the entire world without relying on any single piece of infrastructure run by a single entity;
HIVE is a dpos chain and at the moment there is a single private key to write entries.
The podping-hivewrite is a single piece of infrastructure, which is run by a single entity.
I think when podcastingindex will eventually fail in the future (HIVE chain halts, private key lost, priv key stolen and database flooded with spam) it can easily be replaced by something different.
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