When will you write a BIP that will scale bitcoin and when will you write the pull request to Bitcoin core?
"The Experts"
In S14 E13 of the Bitcoin Takeover podcast, Paul Sztorc argues that Bitcoin miners would become more loyal to the goal of the network if they earned more transaction fees via merged mining.
To find out more about BIP300, listen to the episode on Spotify, Apple Podcasts & YouTube!
nostr:npub1nevsewvjqhrsmpfcpdqw6v3e9f6z8w9sq0yt8kpndk2cumw8g6hs5mjmve
#bitcoin #mining #bitcoinmining #mergedmining #pow #proofofwork #bitcoinpodcast #bip300 #bip301 #bitcointakeover #bitcointakeoverpodcast #btctkvr https://video.nostr.build/a68f4eff04c1313fe10bcdcd5c74a1ed96621607a912b05a7713b8cbfe04a3cc.mov
Thank you for the tag nostr:npub12qz56plzehejkyp4waaannmnny4y4c30j8q55a3wlk49haslga2snypdx8 !
"At the same time, I see many bitcoiners, including people I respect a lot and consider experts and leaders of the movement, being strongly against it."
Have you ever checked out our friends page? https://layertwolabs.com/friends
All of the Bitcoin OGs support DC. Even if you dont decide to upgrade your node, DC will work just fine for everyone else. Happy Sunday 🤝
Drivechain is just a soft fork. It is backwards compatible. Only those who risk their coin are at risk. It’s completely “opt in” for both users and miners. Meaning bitcoiners who have no interest in using a sidechain for other features will not be affected by Drivechain implementation. ❤️
You clearly dont understand how a soft fork works. DC will still work even if you dont decide to upgrade your node.
Good to know. DC will still work for those who do decide to upgrade their node.
"***7. WHY ARE PEOPLE RUSHING THIS??? 🤡***
It isn’t rushed at all. It is 8 years old.
Read the literature page to see just how slowly things have gone, overall.
People are pushing Drivechain in late 2023, because the 2021-2023 BS narratives (S2F, LN, institutions) are collapsing and they want something new."
https://www.drivechain.info/misinformation/
Why now?
Why not now ? What's your objection for now?
Misinformation
Drivechain is a strict improvement - it benefits all Bitcoiners and has no downsides.
Nonetheless, it has many enemies:
*Altcoiners (who want their alt investment to do well).
*The Anti-Alt Bitcoin Immune System (which is misfiring in this case).
*Rival L2s (who prioritize their equity/prestige, over Bitcoin’s success).
*People who are publicly known to be DC-haters, and who will now be humiliated if it succeeds.
Here are some of the misconceptions which they spread:
1. DRIVECHAINS BRING “SH&!COINS TO BITCOIN” 🤡
2. BIP300 WILL CHANGE BITCOIN INTO SOMETHING ELSE 🤡
3. MINERS CAN STEAL FROM BIP300 SIDECHAINS 🤡
4. DRIVECHAIN CHANGES MINERS’ INCENTIVES: 🤡
5. ALTCOINS ARE ONLY FOR SCAMMING, NEVER FOR INNOVATION! DON’T YOU KNOW?? 🤡
6. DRIVECHAIN IS FUNDED BY VCS! 🤡
7. WHY ARE PEOPLE RUSHING THIS??? 🤡
8. ISN’T BITCOIN ALREADY PERFECT?! WHY RAIN ON OUR PARADE? THINKING IS FOR NERDS!! 🤡
The common misconceptions are explained in detail here:
#Drivechain
Topics include:
*Building on Bitcoin
*Bitcoin Culture
*Opportunities for Bitcoin Builders
*Challenges Limiting Bitcoin Adoption
#Bitcoin + #Drivechain ⛓ + #Nostr + #Lightning = #Freedom
#FreeRoss
Hey Mercrcurr! Thanks for the great question!
Drivechain is madeup of two BIPs (BIP300 + BIP301). Drivechain enables a two way trustless peg to enable merge mined peer-2-peer bitcoin sidechains. Drivechain would allow bitcoin users more functionality (e.g. scalable payments sidechain, private transactions sidechain, and smart contracts sidechain) by cloning useful altcoin technologies such as Monero, Z-cash, Ethereum, etc to a bitcoin sidechain. Drivechain would allow miners to earn revenue from sidechain transaction fees helping increase the security budget of the bitcoin network.
Blockstream released a white paper on 'Sidechains' in 2014. An independent bitcoin researcher, Paul Sztorc starting blogging about his sidechain proposal idea in 2015. In late 2022, Paul Sztorc formed LayerTwo Labs and raised $3 million to raise awareness of this idea. Luke Jr was paid by LayerTwo Labs to write a copy of BIP300 Pull Request in August of 2023 to Bitcoin Core on Github. Hence, the recent discussions of Drivechain on Twitter and Nostr. d
http://Drivechain.info (Paul's blog)
http://LayerTwoLabs.com/FAQ (our site)
http://Drivechain.xyz (a fan site)
Lives are at stake, so features should only be added when stability, compatibility and integrity are proven to be absolutely guaranteed.
Bitcoin is not a social network or chat app. It is a mission-critical software project that has greater integrity than any financial software project in history, in both senses of the word “integrity”. It never goes down, is always available, and is absolutely predictable. All other projects next to it pale in comparison.
No #drivechain 💩
https://medium.com/@beautyon_/bitcoin-and-software-reliability-d681367a49b2
Thanks for posting this and raising awareness of Drivechain, if you're interested in learning more about Drivechain, we're having a Space tomorrow (and every Friday). Also, here's some informative links:
http://Drivechain.info (Paul's blog)
http://LayerTwoLabs.com/FAQ (our site)
http://Drivechain.xyz (a fan site)
Hope to see you next week!
What an awesome write-up! ☺️Thanks for posting this, if you're interested in learning more about Drivechain, we're having a Twitter Space every Friday, 1 pm EST. Also, here's some informative links:
http://Drivechain.info (Paul's blog)
http://LayerTwoLabs.com/FAQ (our site)
http://Drivechain.xyz (a fan site)
Hope to see you tomorrow!