Subnostr

Yes, there are two important use cases of BIP300.

The first is non-custodial zcash (or Monero) type privacy. This is much better than shitcoins like Monero, because it uses Bitcoin and makes it impossible to distinguish between regular and private transactions.

The second is scalability. Blockchains do not scale, but 10 large block sidechains could scale to billions of people. Instead of centralization of nodes, we have L1 fully decentralized (and thus the 21 million is secure), with L2s that are slightly less secure, but FAR more secure than custodial wallets or LSPs.

Ike 2y ago

You can't have monero functionality while also being able to verify coin supply. Monero sidechain will have zero benefit to users over monero shitcoin and 100% benefit to miners.

Sidechains as scaling solutions is also useless. People can already benefit from working L2s without them being linked to miner revenue. Again a "use case" which only benefits the miners.

DCs will only boost miner revenues with zero to negative value for the rest of the network. Therefore it's easy to discern who is funding the hype around those BIPs.

https://invidious.protokolla.fi/channel/UC6U89haDyR8lul2LdiqTsmA

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Discussion

BTCapsule 🏴 2y ago

I watched these videos, and none of it is really a problem. The critique is that blind merge mining will devolve into classical merge mining, which solves all of this (in the rare event it happens).

Then we have L1 miners running full nodes. This is also not a problem or change of miner incentives.

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