Replying to Avatar L0la L33tz

https://m.primal.net/PmjP.mov

"With the Dollar backed stablecoins, you'll help expand the dominance of the US Dollar [...] It will be at the top, and that's where we want to keep it"

What he means is:

with Dollar backed stablecoins, the Global South will pivot towards digital Dollars over local currencies, allowing private, US Gov controlled entities to replace bank accounts around the globe.

This does not just allow for the expansion of USD dominance by bypassing local governments – it gives the US unprecedented and direct control over worldwide economies as every stablecoin can be effectively frozen on behalf of the US with the click of a button.

Additionally, it will provide the US with never seen before surveillance capabilities, providing real time access to financial transactions around the globe – fueling the unparalleled public-private partnership between Silicon Valley and the US war machine.

If you are promoting stablecoins, you are promoting the end of national sovereignty in favor of total techno-fascist dystopia.

62
Deleted Account 9mo ago

The English version of what nostr:nprofile1qqsgwxkqduyhe78sa88vehc2nusutk9qyc0dk9a37kdrnddnwlm463qpz3mhxue69uhkummnw3ezummcw3ezuer9wcqs7amnwvaz7tmwduh8xarj9e3hypzgvy7 says in this thread:

Hyperbitcoinization is a process rather than a singular event. Today, we are initiating this process through institutional and governmental adoption.

Rootstock is not the same as other Bitcoin scalability solutions, and the scalability issue in Bitcoin is a crucial factor that will determine its global adoption.

If we aim for Bitcoin to reach as many plebs as possible, these solutions must be on every bitcoiner’s radar—at least until a BIP invalidates their usefulness.

Rootstock uses merged mining, and currently, 80% of Bitcoin miners also mine Rootstock (Foundry and SpiderPool being the most recent additions).

A sensitive point is its two-way peg bridge, which, truth be told, is currently far more advanced than other solutions. Unlike Liquid’s static federation, Rootstock operates with a dynamic federation. BitVMX (Union Bridge) is in the works, aiming to offer an improved gateway service using ZKP technology.

Rootstock does not have a native token, unlike other solutions like Mezon or Stacks, which makes a significant difference. These architectures compete with Bitcoin’s market capitalization by issuing their own tokens. In contrast, every BTC on the Rootstock network (RBTC) is used to pay miners for their services, aligning with Bitcoin’s ethos and natural incentive architecture.

⸻

On Stablecoins

This is a deep topic that should be addressed step by step. The solution that @timechainman refers to is truly a solution.

nostr:npub1s7uvsn0ku29gutma9tw43m5gpwuc8y3qwapzy5pnu5jtllpgcucsyvfwc4 has created DLLR through BTC-collateralized loans, much like the “Free Banking System” proposes (tell me something more Austrian than that).

A system that provides a primary market for BTC <> Stable conversions through a decentralized interface and free market competition becomes a real contender.

Another feature of this asset is that it is soft-pegged, meaning it is arbitrageable by the market itself. This means that if the U.S. government were to devalue its currency and all real economy products increased in price, DLLR could float and would not suffer from the devaluation of your unit of account as with other alternatives.

Every point mentioned here can become an attack vector when dealing with these monopolistic giants of “legitimate” physical coercion (Weber). We must approach solutions with an open mind and critically assess what the market is adopting today.

nostr:npub1s7uvsn0ku29gutma9tw43m5gpwuc8y3qwapzy5pnu5jtllpgcucsyvfwc4 has done—and continues to do—work that many bitcoiners have abandoned: building solutions on Bitcoin.

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