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Stablesats vs taro vs RGB vs neither
350 sats \ 9 comments \ @jp 2 Dec 2022 bitcoin
Interested to hear SNs thoughts on introducing stablecoins (or derivatives that result in stable hedges) into lightning.
Specifically, in your ideal world, do you think enabling financial instruments/tokens that introduce short-term exchange volatility (leveraging the Bitcoin network), is the right approach for bitcoin's future adoption?
BTC/USD hedge (e.g stablesats)20.7%
Stablecoins ramps (e.g taro)37.9%
Neither, BTC only41.4%
29 votes \ poll ended
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178 sats \ 0 replies \ @go 2 Dec 2022
Big question: are StableSats censorship resistant? Can I send/receive in a permissionless manner end to end?
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5 sats \ 1 reply \ @2bithits 2 Dec 2022
I'm still skeptical of algo stables. Even if they're well collateralized, they are still printed from thin air.
So I guess people that live in jurisdictions with crappy currencies, & don't yet understand bitcoin I think a centralized stable coin like USDC might be best.
Problem with that is its only on ETH & SOL, & we just saw what can happen using these shitcoins
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0 sats \ 0 replies \ @jp OP 2 Dec 2022
From my understanding stablesats primarily sets up shorts between USD and BTC to create a neutral hedge position (and isn't an actual coin). The risk here still relies with the exchange but apparently DLCs can help reduce/eliminate this.
Overall I do think it's easiest to onboard someone not familiar with Bitcoin by introducing them to something stable and familiar
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5 sats \ 0 replies \ @muteness11 2 Dec 2022
StableSats or StableCoin does help with adoption, without them its difficult for no-coiner merchant to accept BTC (volatility) but with stablesat/stablecoin it will help (short/mid term) but eventually they will die
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8 sats \ 0 replies \ @TheBTCManual 2 Dec 2022
I don't think there is a "right" or "wrong" way to use the bitcoin network, just trade offs that you are happy with, you want to use BTC to back a stablecoin because you don't like vol fine you paying for that with the opportunity cost of those sats
Some people will use bitcoin, some will use paper bitcoin and get rekt, some will use derivatives backed by bitcoin and feel its worth it for "stable pricing" in the short term.
The way I see the stabelcoin movement is that its a natural evolution of bitcoin adoption as this thing grows you need a mechanism for faster clearing times into bitcoin and these options give you that better than any exchange can or ever will,
If you look at a country that has had hyperinflation those that could convert into anything else as fast as possible did it. I just see this as buidling a ramp into bitcoin and hopefully a ramp we kick off once enough people have moved over that it dampens vol
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0 sats \ 0 replies \ @chungkingexpress 2 Dec 2022
Can someone give a high level overview of what is actually available to develop on? Is Taro in production use? Say if someone wanted to experiment with some alternative uses for bitcoin that are currently shitcoin territory, such as recording a property ownership ledger, building a concert ticket NFT marketplace or similar.
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0 sats \ 0 replies \ @badabing 2 Dec 2022
Concerned about the censorship/compliance issues it might introduce like it does in ETH's PoS system through USDC.
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0 sats \ 1 reply \ @02fb50d91f 2 Dec 2022
everyone loves stablesats/coins in a bear market, but what about the next bull run?
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0 sats \ 0 replies \ @jp OP 2 Dec 2022
Then you can make the decision to switch to BTC only
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