Will a stable coin on the Bitcoin network be a positive or a negative?
Positive19.0%
Negative42.9%
Absolute waste of resources19.0%
Love the idea4.8%
Fuck ethiriumium!14.3%
21 votes \ poll ended
21 sats \ 2 replies \ @k00b 27 Oct 2022
It's hard to say. I need a 'meh' answer.
Probably positive for bitcoin the network and consequently the asset to an extent. My main fear is stables dominate economic activity on bitcoin, the issuers gain too much influence over the protocol, and bitcoin gets marginalized into a utility token.
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399 sats \ 1 reply \ @timechain 28 Oct 2022
Yeah, I think of a possibility is where in a fork situation, the stablecoin issuer of the stablecoin that holds a lot of value may choose to "back" (honor the redemption of coins on) a fork that may be unfavorable to bitcoin. This may play into users prefering a poor choice.
However the stabalized sats thing would probably be ok. The Strike x HRF Lightning Bounty Challenge #2 (https://hrf.org/strike-hrf-bounty) is what I'm talking about.
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0 sats \ 0 replies \ @Risky 28 Oct 2022
This is really cool and deserves its own SN post, if you haven’t. Go HRF!
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10 sats \ 0 replies \ @Ge 28 Oct 2022
Your now taking bitcoin out of the hands of the people...same as with gold and a gold etf...get u distracted from true value...
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0 sats \ 0 replies \ @Coushi 27 Oct 2022 freebie
fuck the stable coin.