The only circumstance under which #Drivechain adoption might be classified as anything other than "a bullet to the head" is with widespread #StratumV2 adoption.
And even then, still, it will be a worse solution than the existing solutions other blockchains have implemented today
Other blockchains have figured out how to scale and add functionality while preserving self-custodianship.
Adopting #Drivechain today would not help #Bitcoin compete with these other chains because their implementation of multi-chain functionality is way better than Drivechain.
#Drivechain was developed by a non-engineer and is a mediocre scaling / functionality non-solution for #Bitcoin.
It is receiving attention due to #Bitcoin's current ossification from the "we must do something, no matter how dumb" crowd.
.@fiatjaf: "huge and dynamic"
Reality: 2 companies, AntPool & Foundry USA
"no incentive to rugpull"
Reality: billions of dollars worth of incentive
"no KYC/AML"
Reality: If #Bitcoin adopted #Drivechain today, it would die.
What Is the Drivechain Proposal and Why Is It Dividing the Bitcoin Community? - Drivechain, a Bitcoin improvement proposal that presents a way of scaling Bitcoin ... - https://news.bitcoin.com/what-is-the-drivechain-proposal-and-why-is-it-dividing-the-bitcoin-community/ #drivechain #innovation #paulsztorc #sidechains #hodlonaut #bitcoin #fiatjaf #scaling #miners #drama #news #paul
#paul #news #drama #miners #scaling #fiatjaf #bitcoin #hodlonaut #sidechains #paulsztorc #innovation #drivechain
The only thing keeping #Drivechain alive is @Truthcoin's snake-oil salesmanship, and a lack of initiative from the #Bitcoin community to do better.
It saddens me to see so much energy being directed into #Drivechain instead of into real sharding.
A proof-of-burn primitive makes it possible burn tokens on Chain 1 and mint them on Chain 2. Simple & actually secure. OK to call that real $BTC. Not OK to call #Drivechain $BTC.
Without #StratumV2 adoption, #Drivechain is unsafe regardless of how long the withdrawal window is.
With widespread @StratumV2 adoption, #Drivechain can actually shorten its ridiculously long withdrawal window and be way safer.
There’s actually no need for #Drivechain to wait to do this. They can do it now without the Core Devs permission.
The fact that they don’t tells you their real goal is to confuse #Bitcoin users into thinking Drivechain = $BTC.
There’s actually no need for #Drivechain to wait to do this. They can do it now without the Core Devs permission.
The fact that they don’t tells you their real goal is to confuse #Bitcoin📷 users into thinking Drivechain = $BTC.
I would have zero problem with #Drivechain being adopted today — without #StratumV2 — if it were advertised in an honest way, as a multisig sidechain that’s a less secure, fully custodial version of
@Blockstream's #Liquid_BTC
#drivechain #StratumV2 #Liquid_BTC
Advocacy for #Drivechain / #BIP300 must first begin with advocacy for #StratumV2.
Only after widespread adoption of Stratum V2 is Drivechain adoption safe.
#drivechain #BIP300 #StratumV2
Talked about #Drivechain on this Twitter space: https://twitter.com/layertwolabs/status/1621199570444374016
Chaining to note that #Drivechain can work safely under certain conditions:
QT https://twitter.com/taoeffect/status/1620195873379721216
If the largest mining pools are edge/collective-pools using something like #StratumV2 then that should largely address the theft concerns.
The market makers / swaps would address the withdrawal delay concerns. #Drivechain
"If the largest mining pools are edge/collective-pools using something like #StratumV2 then that should largely address the theft concerns.
The market makers / swaps would address the withdrawal delay concerns. #Drivechain"
via: https://twitter.com/taoeffect/status/1620195873379721216
It’s “really sad” because @fiatjaf has plenty of good ideas. #Nostr is a solid idea. #Drivechain? Not so much.
"oh but we want to use Bitcoin on other chains!"
You can already do that, right now!
There's @Liquid_BTC. There's $WBTC. There's $tBTC.
And yes, there are exchanges and atomic swaps for altcoins.
All better ideas than #Drivechain.
Believe it or not, one of the strongest arguments that I’ve heard against the objections to #Drivechain goes like this: “So what if it’s a bad idea? Nobody’s forcing anyone to use it!”
This is dumb for a few reasons:
#Drivechain / #BIP300 doesn’t exist in a vacuum. Other cryptocurrencies also have sharding solutions too, and ones that are far better. #BIP300 doesn’t help #Bitcoin stay competitive.
While it would sadden me if #Bitcoin adopted #Drivechain, forsaking better options in order to increase the likelihood of theft, it is not up to me, but to the community, to decide which future #Bitcoin will take.
Build something real? Or decay into fakery?