Replying to Avatar BTCapsule 🏴

Yes, there are two important use cases of BIP300.

The first is non-custodial zcash (or Monero) type privacy. This is much better than shitcoins like Monero, because it uses Bitcoin and makes it impossible to distinguish between regular and private transactions.

The second is scalability. Blockchains do not scale, but 10 large block sidechains could scale to billions of people. Instead of centralization of nodes, we have L1 fully decentralized (and thus the 21 million is secure), with L2s that are slightly less secure, but FAR more secure than custodial wallets or LSPs.
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AJ Nobody ⚡🏴 2y ago

Thanks. Seriously.

The "we're going to kill shitcoins by putting them on Bitcoin" really wasn't working for me.

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BTCapsule 🏴 2y ago

Yeah, maybe eventually. But we can already do the most shitty of shitcoinery on L1 anyway, so might as well create sidechains in case someone comes up with an idea even stupider.