140 sats \ 2 replies \ @TheBTCManual 27 Jan 2023 \ on: Taro protocol testnet faucet for testing of tarod bitcoin
Why do I feel like I've seen this story before, you could issue assets on omni, liquid, and counterparty and none of those got traction, now you're going to add Taro, RGB and pear credit to the mix and for what marginal gain?
I've heard the whole we can issue stablecoins and people can use them, I don't see how that couldn't be handled by a custodian, this is just a custodian with extra steps
It also muddies the waters and now can you really argue with a shitcoiner when you're promoting token creation?
I think i'll be giving this one a pass, it just seems like a distraction and a low time preference attempt to cope with Ethereum envy
Yes, your argument is retarded. A shitcoin is both rug-pullable and certainly worthless, whereas an asset with counterparty risk that is not a shitcoin is obviously a different sort of thing. If you are going to be intellectually lazy and sloppy, why even comment? If you are not going to think critically, why even be a bitcoiner.
It is not just custodian with extra step, it is a custodial account that is a UTXO rather than an account, which allows certain types of actions that would otherwise be made illegal since there may be arm's length, and substance vs form arguments since the UTXO is not actually the asset itself.
You are aware that equities are inherently and will always involve trusted 3rd parties, right? There is no such thing as owning stock the way you can own bitcoin, even in your own company! Even in your own company in which you own 100% of the shares!
Envy of Ethereum? You are spouting misplaced gibberish. I am passing on replying for you. This reply is for others who may wander through.
Anyway, there are TWO, not one issues with counterparty risk in custodial assets. One is uncertainty in reserves, the other is uncertainty in liabilities. Typically, both are unknown, whereas Taro allows you to prove liability set with the same trustlessness with which the entire Bitcoin Blockchain can be audited. This is in fact useful despite the counterparty risk remaining.
Edit: the first and currently only 100 sats on your comment are from me, just so I could hack my way to the top of the replies since you obviously did not read my other comment belos.
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Thanks for reply.
Aren’t you guys happy someone is building something new on bitcoin and Lightning ?
If you are a bitcoin holder success of Taro will make you investment more valuable.
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