Bitcoin's Taproot Assets Protocol w/ Ryan Gentry (BTC153)

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Preston talks with Lightning Labs' Ryan Gentry about the latest software development that brings stable coins and token issuance to the Bitcoin Lightning Network via the Taproot Asset Protocol.
IN THIS EPISODE, YOU’LL LEARN:
- What is the Taproot Asset Protocol (TAP)?
- How can the TAP be used with Bitcoin?
- What impact will sending Dollars over the Bitcoin Network have for people needing fiat stable coins?
- What does the competition look like for fees and settlement speeds on this network relative to other protocols?
- What does it take to run this software on a Bitcoin full node?
- What are Ryan's thoughts about altcoins potentially being used on Bitcoin?
- What are Ryan's thoughts on securities being tokenized on the TAP?
- How could stock certificates be managed on TAP?
- What are some of his concerns and highlights with the TAP use?
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On Bitcoin Fundamentals, Preston Pysh talks about the fundamentals of bitcoin, investing in bitcoin, news, deep dives and more on interviews with prominent people in blockchain technology.
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[@PrestonPysh]

📌 Check out this video next: kzbin.info/www/bejne/o5bNnqafftOCqas ⚠ IMPORTANT: Please beware of cyber scams and phishing attacks. We will never ask for your contact info in the comments section. Kindly report suspicious accounts you see below. Thank you!

[@jerrymac1795]

where's the River link?

[@BitcoinAndChess]

Sometimes an interviewer is SO GOOD, that his line of questioning makes a seemingly dry topic interesting. Preston, you are that kind of interviewer. You make highly technical topics accessible to a broader audience. Great job!

[@jlspilledtruth]

Absolutely amazing content. Preston, love how you’re able to make reply to Ryan and let him know there’s a really good question in your last comment and Ryan immediately understands what the listener would want answered on that topic. Please follow up with Ryan Gentry again in future show. He is fantastic at explaining new concepts ideas and terminology that not everyone fully understands

[@jonburkhartsmeyer386]

I always learn so much from this podcast.

[@tmk8807trig]

Invite this guy back! Excellent interview

[@MadWaloo]

Almost skipped this one-glad I didn’t. Very interesting concept. Love Ryan’s enthusiasm & vision of what the future of the bitcoin network could be.

[@paulsutton5686]

What a fantastic episode. Preston 💯 as usual and Ryan Gentry is a bad ass 😎

[@drewsmith8054]

My question is does each of these transactions trigger a taxable event? I suppose it does…

[@cryptoclayart]

1:06 , the "guy" is Ssebastien Gouspillou :)

[@cryptoclayart]

what about rgb ?

[@speedieandrea]

Great

[@Bitcoin_Shango]

I’m making this comment in haste & will revise as/when needed. But, I lean away from most if not all instances of tinkering w/the base layer. If my opinion carried significant weight w/the devs, I’d recommend this be put on layer 2 or higher &/or on a side chain.

[@MichaelEdwardWright1]

“Unlike most engineers he is good at explaining.” Saying “you know” >500x is evidence contrary.

[@maggiestevens6029]

“Super excited”. Tech corporate people say this term at least 10 times per minute. “We are super excited about the learnings from this past month” (mostly in light, feminine voice) Ugggg

[@davecorley5514]

Taproot and unintended consequences. Whether it’s a bug or a feature, it’s important to understand the argument of both sides before setting my own opinion. The benefit of taproot (the Peter McCormack Argentina problem solution) is clear, but the unintended consequences of the taproot implementation allows a counterparty attack risk that is happening now. So, the cost is 3rd parties influencing mining pool operators to substitute non-BTC transactions for a fee. My opinion: the cost (potential of opaque “deals” between 3rd parties and pool operators to subvert real BTC transaction processing) can lead to rig pulls that yield a direct attack against the BTC layer 1 protocols. A 3rd party could pay pool operators to censor particular transactions. The operator does so by excluding the transaction from the next transaction template. This is worse use case than the benefit of tokenizing and transferring USD in Argentina. It’s not yet time for BTC as a medium exchange - we haven’t crossed that chasm yet. It’s a great store of value. What are the alternatives to yield a solution to the dollar tokenization use case? Maybe liquid?

[@RobertJenkins835]

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[@KimberlyPham252]

Mrs Reyes changed my life because of the high profits I got from investing with her.

[@MichaelHenkel562]

You invest with Mrs Reyes too? Wow that woman has been a blessing to me and my family.

[@PatrickVelazco]

I'm new at this, please how can I reach her?

[@mattharris222]

I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much.

[@RobertJenkins835]

she often interacts on Telegrams, using the user below.

[@dannybitcoin116]

Preston, your face camera filter is a little too soft and bright….

[@chrisdiubaldo7310]

This is so insanely bullish. When Bitcoin can exchange and route dollars become a MofE keeping its core intact it’s basically over. Nothing will beat btc if it’s also the other side of fiat transactions and free.

[@davef5916]

Ahh yea the Tap Ass Pro

[@paolotichelio7410]

Preston, this was a near impossible to follow podcast even for people that know BTC and lighting. Clearly your guest is very knowledgeable but not understandable for the wider audience

[@jesselivermore9285]

Lightning invoices are the standard. If you cant send taproot assets to lightning invoices then its pointless.

[@miscbit]

what an insane thing to both say and believe