I am tired of all these shenanigans with inventing stupid "stablecoins" over BTC/LN or whatever other “protocol” you try to create and fool newbies.
PLEASE STOP giving banks and govs a reason to exist! Just by trying to create (aka wasting your time and energy) those "stablecoins" solutions you actually just give a reason to exist for fucking fiat money and shitcoins.
Please, let's get over this shit for fuck sake. Faster we get rid of all these stupid useless meaningless solutions and shitcoins, faster we get our freedom back. By supporting any of these stupid projects you are supporting SLAVERY! Any intent of continuing to use fiat and/or "stablecoins" is a support of enslaving yourself!
Bitcoin = freedom
Anything else = slavery
Anything is not Bitcoin = fucking stupid useless shitcoin
I feel like you, and I wish I could press a magic button and make the dollar go away completely and have a bitcoinized world right now. But it will take time, and the USD as a unit of account will be the last thing to go away during the bitcoinization process.
This is because the unit of account is like an interface (or a language for the expression of value, if you wish). Have you seen how the airline industry still uses interfaces based on Telex for their messages even though the telex networks are long gone? The Telex system is gone, and very likely most or all of their communications go through the internet or maybe private TCP/IP networks, but the interfaces based on telex still remain.
I see a scenario like this playing out: Taproot Assets will enable "stable"coins (like USDT) and things like synthetic dollars to move through the Lightning network, but it will be bitcoin what is actually being transferred underneath. You can have a merchant who has prices in USD and wants to be paid in USD via Lightning (likely because his profit margin is low and his suppliers still price their products in USD). You can send bitcoin from your Lightning wallet and the merchant will receive USDT or whatever. The exchange process will happen automatically in the background, and everybody will be happy.
Remember that bitcoin is not just the unit, but also the network. Both are important. Would you rather have dollars transacted through the open Bitcoin/Lightning network, or bitcoin transacted through their closed, permissioned & KYC'd networks? In the former scenario, you get financial freedom. In the latter scenario, you get financial oppression.
Taproot Assets might well be the trojan horse that will expand the Bitcoin and Lightning network globally. And then, eventually, people will start thinking along the lines of: "Hey, we keep our savings in bitcoin, we are sending all transactions via Lightning, the banks and their old financial networks are long gone, so why are we still pricing things in dollars? Let's get rid of the last vestige of the old system!"
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I own this painting:
I call it: dollar quoth over its base laying lover. As in the BTC/USD pair.
I'm of the counterintuitive belief that fiat (esp USD) developing a more intimate and frictionless relationship with bitcoin is a very good thing for bitcoin. It seems for many reasons the LN is the best tool for that, and calling them stablecoins when they're technically indistinguishable from bitcoin fails to consider the important nuance and differences between these and other L1s where they exist as separate tokens. To get from A-Z with bitcoin becoming the unit of account, etc, there are quite a few letters to pass first. I've thought about the game theory of stablecoins quite a bit over the years, and reject the idea that bitcoin being an antagonistic discrete payment network is the fastest way to achieve what you talked about.
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