If node operators are not enforcing the fork, then it is in every miner’s immediate financial interest to assign to themselves the escrow coin. For this reason, I predict that the coin will be swept (cold, hard incentives).

One could make the argument that miners’ long term interests are better served by keeping the drivechain going (that is, by safeguarding the escrow). The question is whether miners (mining pools, specifically) believe that it is in sufficient quantity to ignore defector’s blocks.

Do miners have the collective will to keep each other’s hands out of the cookie jar?

How about it? If it compromises #Bitcoin it can't be a part of Bitcoin..🧡👑🗽

Ah, thanks for outlining this scenario... So if most node operators don't upgrade their node to "version drive chain" than the bitcoin locked up in drivechains would likely get pillaged to the point that no one would risk locking up bitcoin in a drivechain?

Miners can certainly initiate their own Drivechain soft fork. The question is whether they can maintain it.

The instant that a majority of hash is not defending the escrow, it’ll drain to the defecting miners. In effect, the sidechain escrow acts as a bounty, begging miners to drop the fork and take it.

This is why Drivechain truly needs the support of node operators. Nodes must be willing to invalidate the escrow piracy attempts, otherwise miners are incentivized to defect.

Fuck you. I have things i want from drivechain, i run a node, why do you need to have some clear benefit but mine are not relevant ?

See how that works ?

(The fu is not serious, its to illustrate a point)

Drivechain allows us to never have tonhave arguments like this again. You don't argue with some neigboring family about what kind of ketchup they buy. DC keeps bitcoin bitcoin, and layer 2 whatever you want. Basic economics. Peace among nations

A privacy end-2-end encrypted sidechain would be 100x improvement for bitcoin privacy rather than having to worry about kyc or doing coinjoins.

I’m a node operator. I can’t get my head around any of it. I have come to the conclusion not what’s in it for me but what’s in it for the space as a whole. Yet to understand the unintended consequences to go close to making a decision.

Anyone ever just stop and think for a bit, about the fact that #Bitcoin fucking works?

Seriously appreciate it for a second from the view of those trying to think it up when this was literal science fiction. What an absolutely insane long shot. The very notion that practically a handful of nerdy anarchists & dissidents on the internet could create a global monetary network who’s rules would supersede governments across the planet… it’s almost idiotic it sounds so improbable.

And for everyone squealing about what the price did last week or how in 10 years we will have X problem or whatever… it’s easy to forget that it’s just there. That it’s working. That it’s half a trillion dollars worth. That it’s monetary policy hasn’t changed since block 0. And despite the ire of countless authoritarians… it persists.

What a wild fucking timeline.

JUST IN: The proposed 'California bitlicense (AB 39),' has passed the Senate Appropriations Committee, and will now pass to Governor Newsom's desk. 👀

This would require a bitlicensing for basically any sort of #Bitcoin  business activity and would impose a $100,000 fine for absence of said license. 😱

Request the Governor veto AB 39, the latest CA Bitlicense bill.

gov.ca.gov/contact/

@SatoshiActFund

Yep $3 Million is literally nothing compared to most shitcoin defi and not projects on ETH lol. I think Stacks received over $150 million in 2021 from just VCs.

Nostr and Lightning folks apparently built these protocols with zero funding from VCs lol.

We could talk about how Saylor has way more influence over bitcoin than anyone else as he owns 1% of the bitcoins in existence and runs the bitcoin mining council which pushes the ESG narrative for big corporate miners who’s shareholders are blackrock.

Yep $3 Million is literally nothing compared to most shitcoin defi and not projects on ETH lol. I think Stacks received over $150 million in 2021 from just VCs.

Nostr and Lightning folks apparently built these protocols with zero funding from VCs lol.

We could talk about how Saylor has way more influence over bitcoin than anyone else as he owns 1% of the bitcoins in existence and runs the bitcoin mining council which pushes the ESG narrative for big corporate miners who’s shareholders are blackrock.

Yep $3 Million is literally nothing compared to most shitcoin defi and not projects on ETH lol. I think Stacks received over $150 million in 2021 from just VCs.

Nostr and Lightning folks apparently built these protocols with zero funding from VCs lol.

We could talk about how Saylor has way more influence over bitcoin than anyone else as he owns 1% of the bitcoins in existence and runs the bitcoin mining council which pushes the ESG narrative for big corporate miners who’s shareholders are blackrock.

Sure, can debate endlessly about this--even the drive chain VC funding

I dont know if there is an issue. Just pointing out even the bip300 author wants to help increase the decentralise mining pools.

Also, Paul can't "tie " some commitment to Bip300 out of it

I'm not sure funding is the issue??

I agree. I think reason drivechain is only controversial recently because of mining pool centralisation risk. I think Paul Sztorc said he will help fund stratum v2 development if anyones interested.

Feels like a good time to bring this one out of the meme archive.

This, the USD has been forced on Latam and Africa -- not only through the IMF odious debt but in the complete USD$ biased systems

They still are near-mid term practical for citizens of countries with hyperinflation