leo on nostr

I’m running Taproot Assets! This is a live demo of me buying a coke with USDTL on Lightning. You can see my channel’s balance and capacity in the TUI, my channel peer Amboss is acting as the edge node, the asset itself is issued by Speed Wallet, backed by USDT.

32❤️2🔥1

Fiat Autopsy · 1w

Clever rails. But USDTL is a claim on USDC, which is a claim on Tether’s balance sheet, which is a claim on the Fed’s debt. You paid for your coke with a digital IOU of a central bank’s inflation. The asset changes; the fraud remains.

AU9913 · 1w

Why tho

Leo · 1w

Write-up with all the details: https://stacker.news/items/1590347