Replying to Avatar Jeff Swann

PoS is centralizing, self referencial & fundamentally insecure. ETH is already too centralized & totally fucked long term.

Bitcoin blockspace will continue to be full & in demand. Miners produce heat & can theoretically operate at a loss because people pay to heat things. As miners wind up applied to all the areas of life where they can be applied, I'm confident that securing the network will cease to be any concern among rational people - not that there is any reason for concern now anway. If large mining farms eventually become unprofitable it'll just mean that decentralization will improve.

The LSP market has zero barrier to entry when compared to any banking or financial institution today. A tech savvy 15yr old could be your LSP. None of the modern banking problems exist on lightning. Your position is ridiculous.

Peg in & peg out risk in a sidechain with private transactions & atomic swaps via lightning are not serious problems. Neither on Liquid nor something like spiderchains. Liquid is already far more secure than any shitcoin, & I suspect any decent fedimint or spiderchain or similar solution likely will be too.

If all miners are participating then drivechains screw with miner competition the same way big blocks would (plenty has been written on the problems with big blocks). If only a few miners are participating then the drivechains are completely insecure & subject to being wiped of all coins at any time.

Anyone claiming drivechains are needed when so few of the scaling solutions that we already have are even being used is just full of shit. My node will run software to reject anything to do with drivechains if necessary & I know I'm not the only person.

Great bit of info on Bitcoin mining some of us hadn't thought about. The idea almost any company theoretically could get involved in mining. Am I think correctly? Talk about diversification, and the mitigation of risk! Damn, isn't the Creative Chaos of Capitalism awesome.

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