I'm wondering when btc network will launch usdt in the lightning network?

[open-reserve]

I'm wondering when btc network will launch usdt in the lightning network?
any information or ideas?

[Doan9269]

Don't complicate things here, Bitcoin lightening network is different from usdt, usdt is a stable coin and how do you expect them to work with the lightening network altogether, maybe that's a research on another note, remember usdt is pegged with USD, bitcoin network needs lightening network than you could imagine all because of it volatility, it wouldn't benefit usdt pegged to run on LN else they would have because both you and them wouldn't find it profitable enough.

[un_rank]

Lightening network is not a product of bitcoin. It is a second layer solution to the scalability issue.
In respect to the above, Bitcoin does not launch new coins on LN.

Interested developers can create a similar solution, if usdt has a scalability issue too.

- Jay -

[franky1]

LN is its own network. it can AND DOES bridge to many blockchains/networks.

if a USD stable coins wants to bridge to LN and create channels, it can do. all it needs is a mechanism to lock stable coins for a time period so that users on the ln network can trust the coins cant be randomly moved without some form of time delay so that they can sleep at night and not have to 24/7 watch for random broadcasts

LN is not reliant on bitcoin and bitcoin is not reliant on LN

other altcoins function on the LN network and users can easily use their nodes to connect and bridge to other networks.

the silly fools promoting LN forget to actually advertise LN for its actual job and function. and try too hard to brand steal bitcoin as the only function of LN or pretend that LN is bitcoin2.0

LN does not require bitcoin devs or the bitcoin network to change in any way for the LN network to be bridgeable to other networks. its for LN devs to sort out with the other networks

you might hear some of the LN fans cry they want it and some other fans cry they dont want it.. the main reason to make it a contention off adding USD support is that routers facilitating funds movements on behalf of other people for a fee(yep the only function of LN) then become money facilitators/money services businesses. which means they then have to be licenced or shut down if they have not registered

some countries already have these laws that apply to crypto so some routers established in those countries are already going to get hit by regulations if they continue to operate as routers for cryptocoins.

so just watch out for what you wish for. it might bite you in the ass in the long run

[Leviathan.007]

The short answer can be never, usdt is a different project with different and unclear goals they have also shown us we cannot trust them many times while they are working hard to provide a stablecoin based on USD for years but still, there are many people complaining them for having to be unclear, while in the other hand lightening network is different from usdt and it's not something comes from bitcoin the goal of lightening network is to be just a solution, while still if usdt wants they can somehow bridge to the lightening network as franky1 already said while I don't think that's going be happen.

[_act_]

I'm wondering when btc network will launch usdt in the lightning network?

It is not possible.

It was possible to make use of bitcoin blockchain for omini layer, but that is onchain. Lightning network is layer 2 and it is not on chain but off chain. If USDT wants to be able to do that, its developers needs to create off chain layer 2 means of transferring USDT, but they may not want to do that because of altcoins blockchain options which have low transaction fee.

[BlackHatCoiner]

USDT is a token whose supply is controlled by the third party company Tether. I said token, because I want to emphasize that it differs little from colored bitcoin. The Lightning Network is not a sidechain, wherein outputs can be colorized, and therefore any unit beyond the original can't be transmitted.

To give an example. If a user pays a Lightning invoice, he may own colored coins, but the payment isn't usually made with his money, but with intermediary nodes who pay each other until it reaches the final destination (see onion routing).

[franky1]

LN is not consensus locked to bitcoin.
LN dies not even have a consensus


this is what some call a feature but is also a flaw of LN, because LN can be broke very easily and also changed very easily to fit any network

LN devs can(well their dev politics agenda is a different story) . anyway the LN devs can have a set up of channels where instead of having pegged sats to msat. they can have pegged stable coin to pegged mcents


the same way bitocin, litecoin, vertcoin(and others) lock value to an utxo. and hen use that as a reference point on LN to then make 'commitments' and then 'payments' in msat balance

there are stable coins that could do the same. have a lock where their utxo dont move unless terms a re met. and hen use that as a reference to create the mcent channels

[Moeda]

I'm wondering when btc network will launch usdt in the lightning network?
any information or ideas?

Bitcoin does not have a smart contract so it is impossible to launch a stable coin. If this is the case, then it is questionable who the Bitcoin developers were who changed the blockchain nodes.
The token can make the blockchain more developed, and it can also damage the reputation of the blockchain. For example, the presence of junk tokens in smart contracts of Ethereum, BSC, Polygon, and others makes the blockchain reputation deteriorate and the trust in the tokens developed is lost. It's not interesting if this happens to Bitcoin, Bitcoin is better single than having children who can destroy it. Lol

[Myleschetty]

Your question are impossible because Bitcoin and USDT are never the same but I still don't understand why most people still trust USDT after their aforementioned history.
Lightning support to many blockchains for not USDT.

[_act_]

I said token, because I want to emphasize that it differs little from colored bitcoin.

Tether do not have the blockchain of its own, it is a token for that reason, as it is built on the blockchain of another coin.

Bitcoin does not have a smart contract so it is impossible to launch a stable coin.

Tether is also transferred using bitcoin blockchain called the omini layer. If you are talking about smart contract, then you are talking about DeFi, NFTs and staking.

Your question are impossible because Bitcoin and USDT are never the same but I still don't understand why most people still trust USDT after their aforementioned history.

People still trust tether because it has the highest marketcap among all stable coins, it is using the blockchain of some of the most developed coins like bitcoin, ethereum, tron etc, people believe if those coins do not collapse, that tether is not likely to collapse too. But I am not supporting tether, because it is a totally centralized token.

[BlackHatCoiner]

they can have pegged stable coin to pegged mcents

This can happen only if all the channels are opened using the colored bitcoin. This isn't the case with Lightning, but a sub-network could become a thing if needed, wherein sub-nodes route and make transactions with other sub-nodes, using the colored bitcoin as a unit (in this case, USDT).

Tether is also transferred using bitcoin blockchain called the omini layer. If you are talking about smart contract, then you are talking about DeFi, NFTs and staking.

No, I'm saying exactly what you're saying. It's a token based on another network's unit. It's colored bitcoin.

[franky1]

for bitcoin(ignoring LN)
bitcoin can easily have a sidenet that uses an allotment of coin to represent an allotment of fiat
EG 100sat=100cent. where there is none of the LN flaws of peg ratios.

bitcoin could have its own usd sidenet to compete agaisnt ethereums usd sidenets

that way locking 100 units at the bitcoin side is the same unit count as what is then passed around in payments. where there is no conversion rate cludge of code that could be abused

(unlike the easily abused conversion rate of LN's 1:1000 between the commitments and payments)

they can have pegged stable coin to pegged mcents

This can happen only if all the channels are opened using the colored bitcoin. This isn't the case with Lightning, but a sub-network could become a thing if needed, wherein sub-nodes route and make transactions with other sub-nodes, using the colored bitcoin as a unit (in this case, USDT).

LN doesnt need bitcoin. LN never has.
LN has no consensus thus anything can happen. LN could build anything without touching bitcoin

but i am laughing that blackhatcoiner suddenly want to call LN a subnet when its bridged to a blockchain/allotment of units he doesnt want to use in LN

anyway.
LN has too many liquidity leaks, bottleneck flaws. multiple ways to abuse the system. its been done many times even by the LN devs.

so i dont see why anyone would try to bridge LN to anything unless LN tries to fix its flaws.
so far LN is just a niche service for those that dont care about long term store of value security.

more likely a completely different network would be created that bridges to bitcoin and other networks including a new stablecoin(doesnt have to specifically be tether brand)

[witcher_sense]

It is not possible.

It was possible to make use of bitcoin blockchain for omini layer, but that is onchain. Lightning network is layer 2 and it is not on chain but off chain. If USDT wants to be able to do that, its developers needs to create off chain layer 2 means of transferring USDT, but they may not want to do that because of altcoins blockchain options which have low transaction fee.

Thanks to Taproot, it is quite possible to issue USDT or other tokens on the Lightning Network. Check out the protocol proposed by Lightning Labs called Taro:

https://lightning.engineering/posts/2022-4-5-taro-launch/
https://bitcoinmagazine.com/technical/how-bitcoin-taro-protocol-works
https://docs.lightning.engineering/the-lightning-network/taro

[open-reserve]

It is not possible.

It was possible to make use of bitcoin blockchain for omini layer, but that is onchain. Lightning network is layer 2 and it is not on chain but off chain. If USDT wants to be able to do that, its developers needs to create off chain layer 2 means of transferring USDT, but they may not want to do that because of altcoins blockchain options which have low transaction fee.

Thanks to Taproot, it is quite possible to issue USDT or other tokens on the Lightning Network. Check out the protocol proposed by Lightning Labs called Taro:

https://lightning.engineering/posts/2022-4-5-taro-launch/
https://bitcoinmagazine.com/technical/how-bitcoin-taro-protocol-works
https://docs.lightning.engineering/the-lightning-network/taro

thank you

[Myleschetty]

Your question are impossible because Bitcoin and USDT are never the same but I still don't understand why most people still trust USDT after their aforementioned history.

People still trust tether because it has the highest marketcap among all stable coins, it is using the blockchain of some of the most developed coins like bitcoin, ethereum, tron etc, people believe if those coins do not collapse, that tether is not likely to collapse too. But I am not supporting tether, because it is a totally centralized token.

I think the major reason people use or somehow trust Tether is that it has the most trading pairs and is also the first stablecoin in the crypto market because the blockchain its uses doesn't stop the dev team from scamming then and I am sure if the US sec didn't step into the matter the Tether team will still continue with the act.

[lixer]

It is not possible.

It was possible to make use of bitcoin blockchain for omini layer, but that is onchain. Lightning network is layer 2 and it is not on chain but off chain. If USDT wants to be able to do that, its developers needs to create off chain layer 2 means of transferring USDT, but they may not want to do that because of altcoins blockchain options which have low transaction fee.

Thanks to Taproot, it is quite possible to issue USDT or other tokens on the Lightning Network. Check out the protocol proposed by Lightning Labs called Taro:

https://lightning.engineering/posts/2022-4-5-taro-launch/
https://bitcoinmagazine.com/technical/how-bitcoin-taro-protocol-works
https://docs.lightning.engineering/the-lightning-network/taro

So, it is really possible? It's funny how others immediately post that it's not possible without double checking things first in the internet. Things are changing fast you know and experts won't stop until they come up with a better solution which can help improve the lives of the people.

First, we have tron and the next one is this. I think this will attract more people to use tether and forget its flaws because the lightning network is much faster and cheaper compared to other networks. By the way, that taproot name is kinda familiar to me. I know it sounds like a rooting application for android phones lol but I don't know if they are from the same company.

[franky1]

crypto is just code..
.. anything is possible

forgetting bitcoins association
LN can bridge to any network because LN has no consensus rules. so they can code any new bridge mechanism to any network.
thus LN can peg itself to USDT(though LN's pegging mechanisms have flaws on multiple points even with blockchains that have specific LN compatible locks)

forgetting USDT association
LN can bridge to any network because LN has no consensus rules. so they can code any new bridge mechanism to any network.
thus LN can peg itself to a new stable coin backed by dollar.

forgetting LN association
bitcoin can lock value where that lock becomes a reference point which any network can then use as a peg of value
thus bitcoin can have its own sidenet/altnet

what is most important is how much to trust these sidenets/altnets as a tool people should use as a store of value.
recent events of certain stable coins are a sign to not trust sidenets/altnets 100% as long term stores of value. and instead to be treated as short term services for niche utility (quick in and quick out, dont stay in)

 LN has too many flaws and no network wide audit process, and so many ways to manipulate units(msat) into existance without being backed by anything (thor turbo example creates channel balance without having to have confirmed bitcoin lock reference). also some LN wallets can easily change the 1:1000 conversion ratio to anything thy like. so that when onion payments say to move 100msat a wallet can have it where the conversion then means a wallet would sign [insert any amount set by wallet] into a bitcoin format commitment at 'payment success' of the onion payment message. because 99.99% of people dont even bother to try to look at a raw commitment (tx) instead they just see their msat balance, thus dont realise they got looted until the broadcast time

so i would not think that those managing a stable coin where they are regulated would want/trust having their value abused on such a flawed and value leaky network like LN
(and yes even the LN devs themselves have lost value and been abused. its no secret. although a certain group of malicious greedy shady people will try to promote LN as a utopian dream of perfection while saying other networks are broke/not fit for purpose to try to say that LN is better then bitcoin