Lightning Network Observer

[BlackHatCoiner]

[...]

Looks complicated with buzzwords, and not with an essential explanation. My first question would be: how do we trustlessly decide what's the Bitcoin price?

Every time I see anything to do with "stable", I don't get my hopes up.

[fillippone]

Big news from Lightning Labs.
They finally released the first poduction version of Taproot Assets (formerly known as TaRo).

Lightning Labs eyes improving stablecoin settlement with launch of updated Taproot Assets

• Lightning Labs’s latest version of Taproot Assets launching on mainnet is compatible with the Lightning Network.
• The company aims to provide a less expensive and safer settlement option to stablecoin users.

Roasbeef commented:


More technical info at the official docs:

Taproot Assets on Lightning

[franky1]

so the latest advert is ... dont buy bitcoin, dont hold actual bitcoin.. instead sell bitcoin for $$ and then spend $$ to get 1 sat locked to someone elses utxo pegged on LN, unsettled and not yet yours.. and pretend its many $$

hmm.. ill stay away from scams, thanks

remember folks, if its on LN and your not the creator of the locked utxo (channel funder/the perceived value owed to you), its not actually yours

LN value in htlc are like zero confirms where mining pools dont even have it in their mempools to even confirm into a block
#NotYourCoin

be careful what your giving up to be later promised but not guaranteed to get

[fillippone]

so the latest advert is ... dont buy bitcoin, dont hold actual bitcoin.. instead sell bitcoin for $$ and then spend $$ to get 1 sat locked to someone elses utxo pegged on LN, unsettled and not yet yours.. and pretend its many $$

hmm.. ill stay away from scams, thanks

remember folks, if its on LN and your not the creator of the locked utxo (channel funder/the perceived value owed to you), its not actually yours

LN value in htlc are like zero confirms where mining pools dont even have it in their mempools to even confirm into a block
#NotYourCoin

be careful what your giving up to be later promised but not guaranteed to get

Trust model in LN is different than bitcoin, for sure.
This doesn’t mean there is no value in using it.
Like you don’t carry all your financial wealth in your wallet, it doesn’t mean having a couple of hundreds worth of value in sour wallet is nonsense.

[NotATether]

Big news from Lightning Labs.
They finally released the first poduction version of Taproot Assets (formerly known as TaRo).

Does this mean we are going to see coins like USDT, USDC, and stuff like that get an implementation on Taproot Assets? And hence the Lightning Network?

It would rival the Ethereum network and other sort of networks for that functionality. Minus the high fees. (Of course, someone has to actually port their token on to the Lightning Network because anyone can start using it.)

[fillippone]

Big news from Lightning Labs.
They finally released the first poduction version of Taproot Assets (formerly known as TaRo).

Does this mean we are going to see coins like USDT, USDC, and stuff like that get an implementation on Taproot Assets? And hence the Lightning Network?

It would rival the Ethereum network and other sort of networks for that functionality. Minus the high fees. (Of course, someone has to actually port their token on to the Lightning Network because anyone can start using it.)

I think this could be a huge development in the ecosystem.
There is a different set of trade-off between Ethereum and Bitcoin L2, and I think the latter has a better balance.