July 18, 2024


This is an opinion editorial by Shinobi, a self-taught educator in the Bitcoin space and tech-oriented Bitcoin podcast host.

Taro finally released beta code for testnet, and it has continued to be a big point of discussion for a few weeks now at this point. It is being discussed by many as some kind of panacea for the issues of people in developing nations or countries being decimated by close to or outright hyperinflation. Many are presenting it as the solution to everything. The ability to self-custody, to avoid the inherent volatility of bitcoin, to still have access to Lightning as a payment network. It would have the stability of fiat without losing the access to Bitcoin’s openness and censorship resistance. It can provide a lot of utility, and yes it does provide the “stability” of fiat while simultaneously allowing interoperability with the Bitcoin network, but it is being wildly oversold by many of the people discussing it.


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