Tether on lighting. Thoughts?
Discussion
Waste of lightning network
Why do you feel that way?
It’s a waste of resources I think.
Doesn’t add any value to anything, it’s just piggybacking off something established on value for something that holds no value .
Disgusting.
What’s your thinking behind that? Because it’s fiat?
Doesn't matter if it's fiat or shitcoin, it will drive more people (and normies) to Bitcoin = more adoption.
Don't know man, I though the mission was a global, neutral, incorruptible, auditable monetary standard that stops banks and governments inflating the money supply and diluting savings. And people are cheering a ruggable dollar IOU? Tiresome.
It’s still the mission 💪 and imo we’re still on the path there. Nothing has changed for the negative.
Can’t word it better than this:
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Inevitable, yet temporary
It will definitely make it easier for newcomers without sats to get sats
I don't use stables, Sats is my unit of account, but I think it's inevitable that stables will want to harness Bitcoin s settlement layer
Hopefully it will incentivise more developers to work on lightning, further improving UI/UX
Having a robust layer 2 to transact with is essential for adoption.
How long will people choose the weaker currency over the stronger?
Not forever.
Very bullish
Blasphemy!
That’s how the US get their dollar into the world. Adoption accelerates.
Let the market decide
Stablecoins have decent use cases and have100s of billions locked in them. Right now Tether is mostly reliant on Ethereum, which makes it fairly risky. I'd prefer to keep Bitcoin pure, but Tether could help spread Lightning use drastically. Tether used to be on Bitcoin L1 before and moved away from that - perhaps Lightning is a better home for it. I'd trust it more, too.
If you can explain this, you can use it. If you can’t explain this, you shouldn’t use it.
I won't touch tether for ethical reasons.
Increasing the anonymity of USDT, USDC, BUSD on the Lightning network (like cash)...so as to approach that of Bitcoin itself...would seem the biggest aspiration...especially as the Western empire begins to/suddenly disintegrates. Would getting a large enough pool of stablecoins onto Lightning...that just mostly stays there, but trades with high velocity within...be the only way to create anonymity? For a while, maybe. But stablecoins backed by USD/Treasury fiat will always eventually go to zero. And exiting LN is where the KYC danger lurks.
So, USDT on LN?...sure, for a while anyway...until the music stops. But that's alot more dangerous than even market timing in general. "4th Turning timing"? "Empire demise" timing? Scaaary! Robbing Bolivian banks on horseback seems more fun.