First of all, I’m trying to wrap my head around how this even works like USDt on the Bitcoin blockchain or just the Lightning Network via channels?

And I don’t know if this is a good or bad thing. Clearly bad for the Bitcoin maxis, but good for universal adoption in seamlessly swapping USDt to Bitcoin & vice versa?

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Agreed w/ how does this work. News articles say it's Taproot (Ordinals, "did I do that", now we are just like Ethereum!). I think it definitively proves that Bitcoin is not what most of it's fans believe it is.