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0 sats \ 1 reply \ @jp 23 Jun 2022 \ parent \ on: What are the Centralization Risks in Bitcoin? bitcoin
Hmmm...
Wouldn't this not matter since node users (w/ Taro/RGB) would not be able to distinguish between stablecoins and bitcoin? If anything, large volumes transacting across the network would make node operators more profitable, increasing individual to open their own nodes (and further decentralizing the network)?
pinging @odell for clarification
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0 sats \ 0 replies \ @timechain 24 Jun 2022
When I said nodes, i meant layer 1 bitcoin nodes that would accept or reject a fork. On the second layer, yeah, if you're routing payments, you can't determine the asset. But USDT, for example, is not only the tokens on the network, they have a website, where you can set up an account and send USDT to it and get regular USD (fiat) that can be withdrawn to your bank account. In the event of a chain split, they can decide to only honor this service on one of the forks, of their choosing. This may sway (L1) node runners to go with the choice of fork that the stablecoin company/ies go with to not lose people's value on the network.
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