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0 sats \ 4 replies \ @SatRat 27 Oct 2022 \ on: USD added to the Bitcoin Beach wallet. bitcoin
Ok you have me hooked on the project if these “stable sats” have no connection to the Eth-verse. Even if the implementation has kinks and risks associated at least I can participate to support a project working on a solution for the BTC network. I think a stablecoin on the BTC network is essential for mass adoption because it allows people to get out of the fiat system and remain out.
There is no money more stable than the only decentralized hard money.
Stablecoins on Lightning are bullshit. Some toying around at best, a scam at worst.
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Unless you need USD to survive, which I imagine most Salvadorians still do, not to mention other countries who's currency is hyperinflating where btc is not so easy to use.
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RN I can’t pay my mortgage with BTC. I can’t pay all my bills with BTC. I still, for now, have to interact with the legacy of the fiat system. If we produce a Bitcoin based StableSat then the legacy financial system can organically come to us and the payment rails of the Bitcoin network. No overt orange pilling necessary just better, more efficient tech.
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I agree with you. I believe that as well. In the long run, Bitcoin becomes the stable foundation of value for everyone. What I’m trying to say is that until then a technology as a “stabilizing on ramp” to the hardest money ever will be useful for adoption during the transition.
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