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12 sats \ 8 replies \ @DarthCoin 6 Oct 2022
People think they are going to use stablecoins over Taro in routing to earn more money, but in fact will just wind up losing them Bitcoin.
"Hey, I'm gonna be a Taro edge node for users to connect to to make money!"
Then 6 months later: "I have no idea how trading works!
Mark my words. You will see this happening.
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10 sats \ 2 replies \ @Brunswick 6 Oct 2022
I want to spend more time understanding Taro, but its my opinion that the only people its useful to is a business that needs/wants their accounting done in the local currency and will use lightning as a low-fee currency-agnostic transport. I think this could be a self-hosted version of strike.me, but I have more to learn.
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60 sats \ 1 reply \ @DarthCoin 6 Oct 2022
Yes, for that was designed. But many people will try "shitcoininzing it" with all kind of crap tokens and will try to fool idiots to buy them as "investment".
Scammers will always try to scam.
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0 sats \ 0 replies \ @pi 9 Oct 2022
Taro is going to expose all the closet shitcoiners in the Bitcoin community. 😅
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0 sats \ 3 replies \ @newnym 6 Oct 2022
Agree. Besides, I worry we might see some negative impact on the use of bitcoin over LN due to Gresham's Law.
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0 sats \ 2 replies \ @ln_cortado 9 Oct 2022
If we have more usage on the blockchain, isn't that a net gain?
It's a pretty good outcome if we short-term use less BTC and more fiat as long as it leads to massive Bitcoin Blockchain adoption. Don't look at this in a black-or-white way.
Once we have the fiat system settle on the Bitcoin blockchain, it's pretty easy to start switching to a Bitcoin Standard.
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0 sats \ 1 reply \ @DarthCoin 9 Oct 2022
LOL are you nuts?
No wonder that bitcoin is not adopted... with mindset like this we will never get rid of fiat. Fiat is a disease and must go, in order to have a free world.
FIAT DELENDA EST
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0 sats \ 0 replies \ @ln_cortado 9 Oct 2022
I'm not nuts, I'm being realistic and meeting the world where it's at.
Just open your eyes and see the world for what it is, not what we want it to be. Society never goes from 0 to 1 instantly.
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0 sats \ 0 replies \ @ln_cortado 6 Oct 2022
Yeah, doesn't this generate impermanent loss?
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0 sats \ 0 replies \ @ln_cortado 8 Oct 2022
The term "Bitcoinizing the dollar" still sounds so weird to me - I need some time to wrap my head around it and think through the possible consequences. I am lukewarm to this feature so-far.
Really good they're focused on making tools to help make it clear what the asset is backed by. Nevertheless, I'm skeptical how this can be implemented and not cheated.
So maybe in a year? It will be great to have this for the next bull market.
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0 sats \ 2 replies \ @alpacachino 7 Oct 2022
Does anyone have a good list of known protocol risks to Taro?
Keen to learn about specific risks if you can share that. Haven't dug around, but from what I can see, discussions out there are mostly generic/general op risks.
Thanks !
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1 sat \ 1 reply \ @ln_cortado 8 Oct 2022
My take so far seems to be that almost nobody is talking about it, so it's unlikely many people outside of Lightning Labs have explored it deeply yet. Some great Twitter threads explaining it have surprisingly little interaction/replies
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0 sats \ 0 replies \ @alpacachino 8 Oct 2022
Exactly. Also understandable as the code is being peer reviewed.
Appreciate the feedback.
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