Will a stable coin on the Bitcoin network be a positive or a negative?
Positive19.0%
Negative42.9%
Absolute waste of resources19.0%
Love the idea4.8%
Fuck ethiriumium!14.3%
21 votes \ poll ended
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Will a stable coin on the Bitcoin network be a positive or a negative?
It's hard to say. I need a 'meh' answer.
Probably positive for bitcoin the network and consequently the asset to an extent. My main fear is stables dominate economic activity on bitcoin, the issuers gain too much influence over the protocol, and bitcoin gets marginalized into a utility token.
Yeah, I think of a possibility is where in a fork situation, the stablecoin issuer of the stablecoin that holds a lot of value may choose to "back" (honor the redemption of coins on) a fork that may be unfavorable to bitcoin. This may play into users prefering a poor choice.
However the stabalized sats thing would probably be ok. The Strike x HRF Lightning Bounty Challenge #2 (https://hrf.org/strike-hrf-bounty) is what I'm talking about.
This is really cool and deserves its own SN post, if you haven’t. Go HRF!
Your now taking bitcoin out of the hands of the people...same as with gold and a gold etf...get u distracted from true value...
fuck the stable coin.