tank on Nostr: Thanks for the in-depth reply. Been giving this some thought. I want the same thing. ...

Thanks for the in-depth reply. Been giving this some thought. I want the same thing. Bitcoin for payments are desirable and inevitable. I think we just differ on timelines.

I agree L2 will be attacked, LSPs in particular (independent of stablecoins). But perhaps I’m more optimistic that a permission-less network can route around censorship as anyone can spin up a Lightning node or a Fedimint. BOLT12 in particular makes attacks more difficult due to improved receiver privacy.

Bitcoin is also far more portable than gold, which network participants can use to mitigate capture. The incentives are such that even the ETFs will likely offer in-kind redemption and the option to take self-custody over the coming years.

I guess what I’m saying with all that is I believe the network can withstand the risks of stable-coins usage on top of it *if* we invest in making it resilient enough to attacks. It has to be, even if we skip the stablecoin step and move straight to bitcoin as a medium of exchange.

And also happy to connect to discuss more in depth :)