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Let’s be honest, Monero people are scared of drivechains being implemented. It would kind of mean Monero coin would be pointless if someone was to build a monero style or z-cash style bitcoin drivechain. I have never said alt coins are completely useless. I am big fan of privacy coins like Moneroand Z-cash. It’s also possible to have trustless defi making ETH and ETH competitors pointless. What makes bitcoin unique is that it’s the most decentralised, no founder, first cryptocurrency and the uses proof of work.

Sure there will be some true Monero maxis and ETH maxis will never sell but most of the liquidity would probably move to bitcoin and bitcoin drivechains.

The old btc dev philosophy was “anything that can be built will eventually end up on bitcoin.” Glad to see this discussion of BIP-300 coming to the surface again. Drivechain propents recognise the innovation on other chains and they wish to bring it to bitcoin.

Saberhagen The Nameless 2y ago

Maybe I mistook you for someone else. My bad.

I am not scared of drivechains. If they are really that great, and no major technical differences, at least the same or better UX, I would just use them. But that doesn't seem to be the case.

Seems wild to think most ETH users are going to just drop everything and move over. And that is with best case scenario, no difference between ETH and drivechains. Especially after the animosity between BTC and ETH. It would have to be much better to break network effects.

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Discussion

Sovereign Matt 2y ago

The ETH marketing has always been we are better than bitcoin because we have more utility etc. Well that marketing pitch would fail if drivechain was implemented. ETH would need to find a new marketing narrative.

Saberhagen The Nameless 2y ago

We will see I guess

Zach 2y ago

Appreciate the conversation guys. I know one of Paul’s (and others) concerns is about the long term security when the blockchain reward decreases. Maybe Drivechain wouldn’t/won’t solve that problem. I don’t know. But conversation about that problem seems like a good idea.