Replying to nobody

#Drivechain is very bad if:

* You want miners to be poor

* You want #Bitcoin to be niche

* You want a Bitcoin Career, but you have no skills other than tweeting or karen-ing or concern trolling

* You sell a "get rich quick" Bitcoin book/conference/dinner/podcast, and must eternally reassure your simpleton audience that everything is fine and new complex ideas from other chains are bad and all you need are the Simple Points from you and your book that you already finished, published and printed it already without mentioning drivechain, oops

* You already bet your reputation on a different L2, one that will be useless once DC fixes Bitcoin

* You already financially invested in a "Bitcoin company" that will be revealed as useless once DC fixes Bitcoin

* You are a developer who invested time/attention in a different L2 that will be useless once DC fixes Bitcoin

* You have a multi-year tweet history of wrong DC comments and it would now be disastrous for your reputation if other people wised up.. you must delay that day for as long as possible.
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Kensho 2y ago

The Germans have an expression: Eierlegene Wollmilchsau. Unless you have a serious argument with tradeoffs listed, you're disingenuous at best. You will never convince anyone, not least a majority of node runners, of anything with this engagement trash. Good day, Sir.

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Discussion

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nobody 2y ago

The tradeoff is that Drivechain requires a soft fork. It is tiny change to Bitcoin Core and only affects those who 'opt in' into BIP300/BIP301.

The benefits are potentially limitless as mainchain/L1 bitcoin remains secure and decentralised where sidechains/L2 bitcoin can have any functionality the user wishes while providing revenue to miners via sidechain/L2 transaction fees.

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Kensho 2y ago

Sorry but you can't get away with such a poor argument. The soft fork is not the tradeoff. The unknowable miner incentives is the tradeoff. UNKNOWABLE. Therefore, no thanks.

9e
nobody 2y ago

The worst case scenarios is that all the users of a sidechain are at risk of their BTC being stolen by miners. So the risk of theft is 'opt in' for the user of a sidechain.

Drivechain allows miners to collect significantly more revenues (or more).

In return, they are encouraged to (but never required to):

…activate/deactivate sidechains, in order to maximize BTC’s price & maximize total txn fees.

…investigate the status of a disputed withdrawal (of which there can only be one per 3 months).

This is precisely what Satoshi intended for miners. Merged mining was invented by Satoshi, and has been in continuous use ever since e.g. Namecoin and Rootstock.