I thought you muted me.
ANyways, The trust mininzed middle men will also profit from fees for providing liquidity like how banks or credit cards for providing their service.
Discussion
Profit from fees is good for miners and LSPs… profit from theft is bad. Understand?
Currently, there’s no way to profit from theft. Theft is currently very costly. 51% attacks aren’t profitable.
Currently, you’d have to pull-off a double-spend larger than the cost of your 51% attack to profit — but you’d temporarily tank the value of BTC doing a 51% attack, devaluing your ASICs.
With Drivechains, to profit you’d just 51% attack an unpopular sidechain and STEAL all the user funds… big difference!
“Miners making profits bad but LSPs making profits good”
Without miners the bitcoin network does not exist.
“Profit from fees is good for miners and LSPs… profit from theft is bad.”
That’s what I said^ are you stupid? Stop putting words in my mouth.
What are the odds of theft? Because it’s a risk but the odds are almost zero.
If I said it was “risk free” then you would say I was not being honest.
Mining on the scale of Bitcoin is different then on moneros cpu scale. Massive companies are having datacenters that are orders of magnitude more centralizing then it should be. Mining centralization was already a problem long ago.
The less miners a sidechain has, the easier it is to 51% attack. If all miners run a full-node for every sidechain, then all miners turn into centralized data centers.
If all miners use blind merge mining instead of running full-nodes for each sidechain, then no miners are validating the validity of the sidechain blocks which means they could be mining invalid blocks without even knowing it.
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