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10 sats \ 2 replies \ @rarepassenger 31 Jan \ on: The fuse was lit. USDT IN BITCOIN bitcoin
USDT on Bitcoin... Trojan horse. Not for Bitcoiners. For the state.
USDT opens possibilities:
- OFAC/FATF regulations/compliance
- LN becomes a banking infrastruture
- LSPs and LN wallets as Money Business and Money Transfer Services
- KYC/AML LN wallets (primal)
- Freezing of funds (USDT does that)
- USDT works with government agencies
- Fiat strengthens
- Bitcoin demand lessens
- Bigger surveillance network
Only retards celebrate this.
I agree with this. And this is why I'm sympathetic to Roger Ver's argument that the conservative nature of BTC is going to be its downfall because it buys time for the Creature-From-Jekyll-Island to fight back and dominate. Bitcoin HAD momentum as a global, neutral, medium-of-exchange. It has lost that momentum because store-of-value narratives were stronger.
I'm not saying I agree with Roger. I'm not saying we should prioritize MoE over SoV. But I do think the BTC community has grown FAR too complacent when it comes to gaining and keeping at least SOME momentum around MoE, instead of completely losing the initiative altogether.
Most Bitcoiners have never even used Lightning before. They don't mind using dollars, and seem to enjoy the convenience of it. It state, and The Creature seem to be winning this battle while Bitcoiners drool over their temporary NGU empire.
BTC is NOT ready to ossify. A few more important upgrades need to be in place first (such as CTV). And the community needs to start demanding it instead of sitting around staring at their NGU the way Gollum stares at the ring.
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Strong narratives derive from weak people. People don't understand power. They should.
Many actually agree with Roger than disagree. That's OK. You can agree with him on some things and not on others. Life's messy, not binary.
IMO: focus on you and what you can do. Everyone now, have to figure it out.
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