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1 sat \ 9 replies \ @DarthCoin 8 Dec 2022 \ on: Elizabeth Stark on Bitcoinizing Fiat Currencies bitcoin
No.
FIAT DELENDA EST
I get your aversion to fiat money, and have a couple questions for you.
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How do you feel about the idea of other people using your Bitcoin liquidity to route their fiat stablecoins on Lightning (assuming your node is only routing BTC and not involved in Taro asset swaps)?
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As a thought experiment, let’s assume we have no control over whether other people choose to use fiat money in the future. Fiat money moves on fiat rails today, do you see a benefit to having it move on Bitcoin rails instead?
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- Over LN will never be routed fiat or stablecoins. Only sats. What they do with those sats outside LN channels is their problem, not mine.
- Anybody that is focused on using fiat, forever or just transitory, in the end they will lose. Is just a matter of time until they will realize that.
fiat money is pure slavery. For more people will use it, more will suffer.
We have to end this shit once and for all. Enough with all this bullshit fiat.
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Appreciate your perspective.
As a follow-up, do you anticipate other assets being meaningful contributors to the amount of sats flowing through the Lightning Network when Taro goes live?
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I really don't understand why people, normal bitcoin users are so excited about Taro?
I think they understand it wrong.
Taro will be used mostly by big companies, to issue their own financial assets and instruments useful for their businesses.
Mortal will not use Taro-coin or any other asset will be created to buy a coffee of even day to day transactions.
All that part will be behind the scenes, normal node operators will be focused only on routing sats. That's all.
Will be more sats routed and linked to those assets? For sure. But that will not affect Bitcoin and LN from regular use in any way.
I could say that will be meaningful in terms of traffic.
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You could be right that people misunderstand Taro and how it will be used.
I’m still trying to wrap my head around the project (and weigh the pros/cons) myself, and find talking through these ideas to be helpful.
I think I agree with you that more sats will be routed over Lightning too, which could help node operators see more fee revenue as a reward for their services.
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You and many others see LN more as revenue form.
I see it more as like a damn good tool to FUCK THE BANKS.
In the end this is the ultimate goal: freedom and fuck the banks.
We are not in this to replace some crooks with others.
We will have enough time for revenues and financial scheme later, after we get rid of these banksters.
Now is not the time when we should fuck each others, but focus on fuck the banksters first.