Read the tweet.
Skeptism is healthy.
Discussion
OK, I’ve read the tweet. Can we steelman the opposing arguments?
Why not build drivechains on Litecoin first? Why do we want to do drivechains now?
If you show up to change bitcoin as CEO of a company that stands to benefit, the default answer is (and should always remain): No, GFY.
Paul isn’t against doing it on Litecoin. But it’s complete waste of time and resources. You would have to convince the litecoin community to agree to it as well. And there is basically zero dev community on litecoin. Thats really what testnet is for is already complete for bitcoin testnet.
I thought bitcoiners were pro-economic incentives and proof of work? Seems clear to me Paul has been pushing drivechain for several years before he formed layer two labs. If he is a bad actor is not at all obvious given his track record.
I’m definitely pro-economic incentives and POW. But I also know that not everyones’ incentives are aligned at all times. Plus, incentives and track records can certainly be at odds with each other (see: Lopp/Casa).
The piece you didn’t respond to is: Why now?
Apologies, missed that question.
Why now?
My response is:
If not now, then when? the next halving is approaching fast and likely means (no guarantees of course) more new people will be joining the btc network. As more people join the network more noise will be communicated and less signal. Making it even more difficult to implement changes in the future in that scenario.
And side chains dont just magically fix everything overnight. They need devs and users to grow organically to see what works and doesnt work. Could take a some years for a sidechain to get adopted via organic growth. Rootstock, Lightning, and Liquid have still very low adoption considering their time in the market.
Appreciate the real dialogue on this. 🤝