Nostr

explain why you think miners stealing is baseless- it’s become a meme phrase for you guys/paul but you never elaborate outside of UASF (in which case it is def not baseless).

i’m not saying others shouldn’t use it, im saying it does not work. my bet is that immediately upon activation it will be used to create a replacement for WBTC, will gain massive locked-in TVL over a short period before being rugged by miners (along with any other escrows).

it will turn so many people off bitcoin, all for something that was never gonna work in the first place.

Cyber Seagull 2y ago

Also, TVL is a shitcoin-crypto term.

Bitcoin and drivechain do not promise to lock away the value of your bitcoin.

A DC hash escrow is a promise to hold a UTXO in a common fund that is exchageable for x or y amount of bitcoin<->token. The value of either is not locked. It's more helpful to think about it as an atomic swap rather than shitcoin staking.

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doot 2y ago

i mean TVL as in the bitcoin within the escrow

Cyber Seagull 2y ago

And by escrow you mean the CTIP as described in the Bip right ?

If not then you are not talking about bip300 and drivechain.

The ctip is an aggregation of all the UTXO's sent to the sidechain and held for future withdraws. Miners have nothing to do with it, its state or amount.

If miners can split and steal from it, they can seal from any other bitcoiner.

doot 2y ago

words words words words.

you know exactly what i mean i’m not going transcribe this into BIP300 terms

Cyber Seagull 2y ago

No. I HAVE NO IDEA WHAT THE FUCK YOU ARE TALKING ABOUT.

I know what i am talking about.

Now i know you don't know what you are talking about.

We now know you don't know what you are takking about.

Cyber Seagull 2y ago

Words are important.

You are approaching bip300 with the wrong words, so you don't understand it.

Try describing pasta using eskimo words for snow.