100 sats \ 6 replies \ @nout OP 13 Jul 2022 \ parent \ on: Releasing RGB: Smart contracts for Bitcoin and Lightning Network (Slides) bitcoin
It's sort of a next layer, in a same way LN or Liquid is a next layer.
Yeah, and the lightning network already has Taro which is terrible. What I'm really groaning about is the shitcoins. "If You Aren't Trying to be Money, Why Do You Need a Coin?" #44100
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Is there any actual code done on Taro? I thought that was just proposals.
I hear you on the shitcoins part of this - also not happy about this - or rather I can see pros and cons and I don't know which of those wins over the other...
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its just verifiable air miles for a digital age. not money but system of utility codebase where rules can be set based on central issuer but still adhering to Bitcoin protocol. what s wrong about it?
should these miles be in sats outside of the issuers control? why would I want that? I want you connected in the ecosystem. why not experiment what it all provides
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You don't buy air miles, you buy plane tickets and you're given air miles and spend them on a service.
Should a rewards points (or in store credit) system be in sats? At the very least there should be some sort of mechanism so that the issuer can not monetize their rewards points lmao like getting in trouble for failing to provide the good or service those rewards points were promised to do and restricting in store credit from being bought and sold on the public market perhaps by backing the points with money like sats.
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of course not - but thats the point. you are given these miles to apemd on luggage capacity enhancement or other perks AT the issuer's ecosystem
the benefit is digital verifiability and transparency + convertability. reputation points dont have to be backed by money - why would I as an issuer want that? they serve
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Because if you don't, your establishment is going to have a tarnished reputation as being part of "the crypto scam" because of all the bad actors using hype to dump on the market to enrich themselves. So by backing it by money, you ensure its only usefulness is still that it is used at your and no one else establishment in order to get repeat customers, but at the same time do a little bit to salvage the reputation hit of association.
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