42 sats \ 1 reply \ @south_korea_ln 4 Sep \ parent \ on: Why do some people think stable coins are good on Lightning? bitcoin
Yeah, don't need it on Bitcoin. Bitcoin has a bigger long-term goal.
I realize I initially kinda answered a different question. Sorry.
I'm ok with them staying on Tron, Eth, etc. Don't need to have them on LN.
But it's permissionless, by design. So if companies like Lightning Labs think this is a good idea, they are free to do so. If it gets them extra VC money, why not. It'll add liquidity to the network, for sure. But it'll attract regulatory oversight, for sure. This will be a stress-test.
Good thing, it's permissionless, also for using it the way it was intended, as a P2P network. So let's focus on building that part out by using it daily.
What Lightning Labs did was stupid and evil; stablecoins infect Bitcoin, and there are no positive aspects to this.
Every company that has integrated stablecoins into their projects is blind and serves evil.
What happens when regulatory oversight requires you to obtain a money transmitter license and perform KYC on users? Don’t believe that self-custodial apps won’t be affected.
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