1 sat \ 4 replies \ @tomlaies 23 Feb 2022 freebie \ on: Synthetic Stablecoins on Lightning bitcoin
This is exactly the wrong way. To get to a hard money economy we need to start denominating goods and services in sats. NOT denominating sats in fiat stablecoin crutches. NO GOD! PLEASE NO!!! NOOOOOOOOOO
While I agree stuff like this slows down a hard money revolution, it does seem to be what the market wants - a less abrupt transition to a hard money economy.
reply
the more that people transact internationally (it will become more and more common), the more that they will begin to see national fiat like a kind of national token that is used for specific national purposes like taxes.
i don’t see a reason to rush and force the market as you mention, yeah.
reply
For billions of people around the world it's a massive improvement to have at least somewhat stable fiat (USD, EUR) that's interoperable with the rest of the world. Further, people living or operating on tight margin with small reserves can't currently handle the volatility of Bitcoin.
Giving them the ability to decide in a single app whether to have no-KYC "stabilized" money or "savings" money would be huge improvement.
reply
😂
reply