21 sats \ 2 replies \ @k00b 27 Oct 2022 \ on: BTC stable coin or not? bitcoin
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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