HunterBeast on Nostr: RGB should be of interest to any Bitcoin maximalist in that it addresses Bitcoin FUD. ...
RGB should be of interest to any Bitcoin maximalist in that it addresses Bitcoin FUD.
Much like how methane mining addresses ESG FUD, Fedmint addresses "but not everyone will want to self-custody" FUD, Lightning addresses "Bitcoin can't scale" FUD, Ordinals addresses security budget FUD, RGB addresses "Bitcoin is old and has no utility" FUD.
Of course, the jaded bitcoiner isn't impressed by any of these things; ESG is a psyop, Fedimint is a shitcoin, Ordinals is an attack on Bitcoin, Lightning doesn't have enough adoption and doesn't work well enough, Liquid is just a federated rugpull, and RGB is shitcoinery.
While some of these miss the point, some are in some ways valid concerns, and as I've said before, if something is valuable enough, great efforts will be made towards addressing its limitations.
RGB is a very powerful smart contracts protocol built on Bitcoin UTXOs. RGB contracts are bearer contracts that can be self-custodied and the keys kept in cold wallets, using ordinary Bitcoin hardware signers. They should be very attractive to those who would like to shitcoin safely and in private.
There's lots of people like that, and I know that because I've met them. The web3 space isn't owned and operated solely by degens, they just suck all the air out of the room. It's time for RGB to regenerate the space instead.
Finally, to cement the point that this should be of interest to Bitcoin maxis, is that ultimately, everything should come to Bitcoin. How do you think hyperbitcoinization would work? People would just stop wanting to play with trustless and permissionless alternate units of account? Speculation, gambling, whatever you want to call it, there's a huge market for contracts of all kinds, and ideally they 1) settle on Bitcoin, 2) using bitcoin and paid in bitcoin, 3) have the least impact on the timechain as possible. That way, people have their fun or whatever it is they want to do with their bitcoin while also being disintermediated.
Anyway, that's all. That's the reasoning. I know this won't satisfy everyone and maybe it's not the steelman case for RGB and layered tech that I think it is, but I'm going to help take this as far as I can for as long as there are people who want me to, because the demand is there, and bitmask.app has proved it, with over 100,000 mainnet RGB users.
Much like how methane mining addresses ESG FUD, Fedmint addresses "but not everyone will want to self-custody" FUD, Lightning addresses "Bitcoin can't scale" FUD, Ordinals addresses security budget FUD, RGB addresses "Bitcoin is old and has no utility" FUD.
Of course, the jaded bitcoiner isn't impressed by any of these things; ESG is a psyop, Fedimint is a shitcoin, Ordinals is an attack on Bitcoin, Lightning doesn't have enough adoption and doesn't work well enough, Liquid is just a federated rugpull, and RGB is shitcoinery.
While some of these miss the point, some are in some ways valid concerns, and as I've said before, if something is valuable enough, great efforts will be made towards addressing its limitations.
RGB is a very powerful smart contracts protocol built on Bitcoin UTXOs. RGB contracts are bearer contracts that can be self-custodied and the keys kept in cold wallets, using ordinary Bitcoin hardware signers. They should be very attractive to those who would like to shitcoin safely and in private.
There's lots of people like that, and I know that because I've met them. The web3 space isn't owned and operated solely by degens, they just suck all the air out of the room. It's time for RGB to regenerate the space instead.
Finally, to cement the point that this should be of interest to Bitcoin maxis, is that ultimately, everything should come to Bitcoin. How do you think hyperbitcoinization would work? People would just stop wanting to play with trustless and permissionless alternate units of account? Speculation, gambling, whatever you want to call it, there's a huge market for contracts of all kinds, and ideally they 1) settle on Bitcoin, 2) using bitcoin and paid in bitcoin, 3) have the least impact on the timechain as possible. That way, people have their fun or whatever it is they want to do with their bitcoin while also being disintermediated.
Anyway, that's all. That's the reasoning. I know this won't satisfy everyone and maybe it's not the steelman case for RGB and layered tech that I think it is, but I'm going to help take this as far as I can for as long as there are people who want me to, because the demand is there, and bitmask.app has proved it, with over 100,000 mainnet RGB users.