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I wonder if a bitcoin-backed stablecoin concept on Lightning
I stopped there reading all the rest. Bitcoin IS the stablecoin. All the rest are a joke.
If all your argument start from the "stablecoin" perspective is nothing to consider.
75 sats \ 1 reply \ @IanM 16 Jun
I'd encourage you to read the rest sometime. You're simply not going to force people to change something as fundamental as their unit of account overnight, so the options are then either (1) try and convince them over time to do so (brutally difficult), or (2) provide a solution that accommodates that fundamental need in a way that gets more people onto the network and increases demand for BTC the asset. I think both are worth trying.
And to be clear (since you didn't read it), I think centralized stables like Tether are indeed dangerous, but that's not what I'm suggesting as a potential solution here.
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I'd encourage you to read the rest sometime.
I can't read ANYTHING that start by the word "stablecoin". That is pure shitcoinery I will always reject it by all means. Bitcoin circular economy do not include any form of stablecoins. Is pure Bitcoin.
Start your argument with other aspects and maybe I will read it. Read again my warning: stablecoins are fiat maxis dream. So fuck'em ! CONSISTENCY IS ALL THAT MATTER. BITCOIN ONLY. STABLECOINS ARE NOT BITCOIN.