I don’t find any of the criticisms of BIP-300/301 to be convincing.
Maybe I’m missing something, but this seems like a very elegant approach.
Then again, I supported BIP-119 CTV which received vocal opposition from the broader user base, so maybe I’m not thinking adversarially enough.
What is the most important reason not to move ahead with Drivechains and Blind Merged Mining?
What's the most important reasons to move ahead with Drivechains and Blind Merged Mining?
There are a few use cases I can think of, which the market has signalled have merit:
- Scalability
- Privacy
- USD stablecoins
- NFTs / Ordinal Inscriptions
How Drivechains affects scalability/privacy exactly?
I believe they don't provide anything but shitcoining on Bitcoin. But even if they would provide some minor improvements, they would also introduce complexity and possible vulnerabilities. That's why we need to be extreme careful and consider if they are worthy in long run.
Stablecoins and nfts are not necessary feature in L1 and not needed. They can be built on L2 if somebody really want them.
I’ve changed my perspective on this proposal.
Incentives matter and a trustless implementation matters.
Most importantly, the longevity of Bitcoin matters.
🟥
