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Crypto startup launches tokenized US Treasury bonds on Bitcoin layer-2scointelegraph.com/news/crypto-startup-tokenized-us-treasury-bonds-bitcoin-layer-2
121 sats \ 3 comments \ @Cje95 4 Jul 2024 bitcoin

I have posted about these ideas and products before with BTC L2's being used to tokenize and trade things and here is yet another example. I feel though that something like US Treasuries are just begging for an issue to transpire. I mean you are literally playing with the Treasury and Fed's baby...

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0 sats \ 2 replies \ @south_korea_ln 5 Jul 2024
Hamilton U.S. T-Bills (HUST) will be available on the Stacks, Core and BoB (Build on Bitcoin) Bitcoin layer-2 solutions. The first transaction with HUST occurred on July 4, according to a statement.

I stopped reading here. Stacks is NOT a Bitcoin layer-2 solution. It's an affinity scam by a shitcoin company.

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0 sats \ 1 reply \ @Cje95 OP 5 Jul 2024

Hate to be that person but you have to idk read a little bit. Cause literally the words after are

Core and BoB (Build on Bitcoin) Bitcoin layer-2 solutions.

Those doesn't count? Pretty soon you can eliminate them all. This isn't just one its freaking multiple.

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0 sats \ 0 replies \ @south_korea_ln 5 Jul 2024

According to my definition, they also do not count.

Core, from CoreDao uses what they call

The Satoshi Plus consensus mechanism combines the best of Bitcoin and Ethereum. Decentralization and security are ensured through Delegated Proof of Work (DPoW) from Bitcoin mining pools. Scalability and composability are achieved through Delegated Proof of Stake (DPoS) from CORE token holders.

I do not care for Proof of Stake, hence I stopped reading.

I don't know about BoB, but the website raises similar keywords that I make I cannot consider these to be Bitcoin layer 2.

For me, an L2:

  • does not creates its own token
  • fully relies on Bitcoin's POW
  • does not need to bridge to ETH to use their smart contract abilities
  • does not give power to the biggest bags through POS

Currently, only LN qualifies as an L2 to me. Arguably projects such as RGB and Taro. Maybe projects like ARK in the future...

It's all fine that they do. I just stated that I stopped reading here, in the same way I would not go reading an ETH forum or a Stacks telegram group. I'm ok with them issues US Treasuries.

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