Same. I thought it was really dumb because of that.
Well, actually i thought it was just a rhetorical device that rubin invented to use to yell at shitcoiners
Discussion
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It's a lot more clever than that. Ruben took a look at side chains and figured out that the hard part was peg outs. So what happens if we just don't do peg outs? Well it turns out you get a ton of really nice properties as a result.
Oh it’s beautiful. I love it.
I generally think most of Rubins really good ideas are when he gets rid of the hard parts.
Sidechains: peg-out is hard. Get rid of it. Spacechains!
Reusable payment codes: ECDH signaling is hard. Get rid of it. Silent Payments!
Transferring UTXOs on-chain doesn't scale that well. What if we left the UTXO in place on the blockchain and instead transferred the private key? Statechains!
ahahah
Agreed. Ruben has driven me from "that's just silly" to "actually that's genius" several times now. He is a bright mind.