#Drivechains won’t get any traction on #Litecoin (because of the lack of network effect) so you would have to wait that someone builds on top of it (which probably won’t happen) to then test your hypothesis.
It would be a great way to kill the concept of #drivechain without giving it a fair shot to succeed. Actually maybe opponent to #Bip300 should go ahead and deploy it on Litecoin but there is no reason for supporters to adopt an approach that is meant for failure.
I am sorry but that argument conflicts with even what Paul Sztorc himself speculates what might happen on an altcoin. He thinks Drivechains has so much utility value that it might actually cause Litecoin (or another alt) to rise significantly in price, creating a new network effect that challenges Bitcoin's!
I disagree with Paul on this one.
If Drivechains cant bring value, independent of the chain it is implemented on, it sounds like drivechains needs bitcoin more than bitcoin needs drivechains.
Ironically, this seems to be what Paul's behavior belies as well. He seems more in love with his own ideas than he is concerned about the risks inherent in implementing them on Bitcoin.
I just mentioned an example earlier where #drivechains would bring value to #Bitcoin (#BTC anonymization). Isn’t it a valid use case in your opinion?
#Bip300 #drivechain
Sure, but not at the risk of fundamnetally altering the miner incentive model. DC puts far more governance responsibities on miners and makes them custodians. The risk is not worth the reward, if it could be achieved via other layer 2 solutions that don't alter miner incentives.
I’ve listened to a lot of debates about the potential issue with #drivechains changing the miners incentive model but so far I’ve found those arguments unconvincing. That said, if you have a good resource/interview to share that clearly lay out this argument I’d like to see to see it.
#Bip300 #drivechain
“Might make that coin extra valuable…” 😭😂🤣
