Thanks for your inputs. I need to research this a bit more but to me, being paid in #BTC isn’t the same as securing the main chain with hashpower. I can see how it’s better than being paid with another #crypto but there can still be a hashpower cannibalization effect as far as I understand.
Right, but a given amount of hashpower needs to be directed to either a sidechain or the main chain. It can’t be directed to both at the same time. It’s a zero sum game. #Bitcoin #Bip300 #drivechain
I understand this from the point of view of increasing the fees to be distributed to miners but it seems like there is still a risk of hashpower canibalization between the main chain and sidechains or am I missing something? #Bitcoin #Bip300 #drivechain
Thanks for the clarification, if miners can’t know which transaction is in which bundle then it’s not a legit concern. Is it still true that 25% of the hashpower can block a bundle? It seems that this could lower the barrier to entry censoring peg-out. It probably wouldn’t censor them forever but it could degrade the whole experience though. Imagine your withdrawals being delayed for an extended and unknown period of time. #Bitcoin #Bip300 #drivechain
#Twitter #X makes it clear in their Terms of Service that they can terminate any account for opaque reasons such as « Commercial Inviability ».
https://reclaimthenet.org/x-twitter-ban-users-for-commercial-inviability
On top of this, their privacy policy had been updated to allow the collection of #biometric data or employment history.
https://reclaimthenet.org/xs-new-privacy-policy-gives-itself-permission-to-collect-biometric-data
Those who thought that #Musk was going to fix Twitter have been fooled. Only #Nostr fixes this.
After watching this interview, my understanding of how #drivechain work is still incomplete but here are a few concerns I have:
1) Miners would gain the ability to censor transactions by blocking the peg-out with only 25% of the votes. I could see a scenario where large pools (above 25%) would be mandated by a government to censor transactions that don’t comply with #KYC (or other blacklist). Hence, people could not withdraw their fund from a sidechain when trying to send to a non-KYCed #Bitcoin address.
2) Sidechains could cannibalise #BTC security by fragmenting hashpower between the main chain and the sidechains.
Are these concerns legit or FUD?
An argument that Paul used many times to alleviate these concerns is that if you don’t use drivechains, you’re not impacted but I disagree with this statement. Any issues with fund being stuck on sidechains will undermine the Bitcoin brand. Most folks are not going to understand the nuances and it could result in the public perception that Bitcoin is not safe and secure.
I’m not opposed to Bitcoin evolving but I’d rather like to see proposals related to on-chain scaling for Bitcoin to be more usable as a medium of exchange. If there is a risk to undermine the brand or security of Bitcoin, I’d prefer for the #crypto experimentations to take place on alternative #blockchain rather than on Bitcoin. nostr:note1xj0366z5repa5x6huj3ycwcwh6wv989ekc2vpvz6pgh9kyg3f4pqf7qnmh
Does this mean that miners can’t steal funds from a sidechain like Jimbocoin claims? My understanding is that they could still block the peg-out. Is this accurate? If so, what % of the votes is needed to block a peg-out? Are there any penalties for a miner to vote against a bundle that is accepted? Are there any penalties for a miner to vote for a bundle that is rejected? #Bip300 #Drivechain #Bitcoin #BTC
What does the warning mean? That the relay blocked you?
The #drivechain #BIP300 debate is reminiscent of the 2017 block size increase debate.
Although both sides have technical arguments to support their position at its core, the disagreement boils down to whether #Bitcoin should be kept as it or be upgraded.
It’s all about Bitcoin politics: Bitcoin conservatism Vs Bitcoin progressivism.
Bitcoin conservatism will never die unless the conservatives lose the Bitcoin brand or the progressists succeed in building a Bitcoin fork that will surpass #BTC adoption.
Some food for thoughts in the video on what would motivate merchants to accept #Monero payments. https://odysee.com/@MoneroMagazine:9/Business-Usecases---Adoption-w-Juraj-Bednar:3
That seems like a reasonable approach but sometimes forces in motion can’t prevent the outcome to lead to a fork.
I haven’t been following this debate but I’m curious to know if there is a risk for this to turn into a fork war? What are the odds? #Bitcoin #Drivechain
I think the #crypto industry is currently entering the slope of enlightenment. In the next bull run, I would expect crypto that have the ability to move towards the plateau of productivity to do well. Of course there will still be some room for new speculative #blockchain projects but those will mostly be dapps building on top of existing blockchains. #HypeCycle 
I agree with all but would push back on the last one. #Bitcoin isn’t yet largely adopted as a medium of exchange. It is still money because it can be used as a medium of exchange but it has limitations and isn’t competitive for this use case as of today.
#Avalanche #Avax has sub 3 seconds finality. I didn’t say those would be as decentralized although #lightning isn’t a great example because it’s not that decentralized either. #Bitcoin is notoriously slow and expensive but it’s also the most secure.
Why so many #relay have a warning and what does this mean? #asknostr #nostr nostr:note1facn6m9tlh09txxk23dxl3ne739kym0l6ptnj044zfaxn59gsq2s3cxz3h
I think merchants need more guidance as to how they can integrate #Monero with their existing business processes.
For instance, how can they generate invoices? How can they manage the accounting? How can they convert to fiat?
Maybe there are already software/solutions that abstract all this complexity in which case I would pitch those rather than a consumer wallet.
Most merchants won’t be willing to accept #XMR if its adoption adds a non negligible overhead.
The booklet is a good educational pitch about the benefits of Monero though.
Would you get a VoIP number or no numbers at all? Many communication services require a phone number though…
The cheapest and fastest? Sorry, but there are plenty of #crypto that are cheaper and faster than #Bitcoin. Of course they have missing properties against Bitcoin.
I thought fees were mostly to prevent spam transactions but if it is to guarantee miner revenue then I guess it is a trade off between usability, security and fix supply.