@JakeBlockchain
12,890 sats stacked
stacking since: #121073longest cowboy streak: 2
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I'd love to take loans in a trust-minized way and not have to sell/spend my BTC to realize its benefit.
Not going anywhere statist.
Thats not a Bitcoin Magazine conference panel.
The market gets to decide what is a scam. At the end of the day people are transacting in BTC at a volume we have never seen before.
We need SegWit or you have incentives to bloat the UTXO set.
Sadly that's happening now with Stamps.
I'd have to look back through the River report on Lightning.
Lightning numbers are WAY WAY higher than these.
"A network or platform can only be considered resistant to censorship if it provides users with alternative methods to obtain the information they seek.
In a centralized world of large media platforms. We don't really have resistance to censorship. We can only ask and be granted that these platforms choose not to block information.
Which makes it increasingly necessary we create decentralized alternatives to provide new avenues for access."
Either way. It is seeing increased usage. Posted on Twitter abit ago about it.
The Current State of Bitcoin Sidechains (By Network Usage)
To be as fair as possible. (Since each chain has different block times) I went from Bitcoin block 820725 (7:56 PST) to block 820738 (10:08 PST) and pulled all the equivalent TXs for each chain.
Transactions (over 2 hour period) Bitcoin: 49,533 Liquid: 1124 Rootstock: 989 Stacks: 779
One caveat* This includes coinbase TX's. So you could remove 72 Liquid TXs, 144 Rootstock, and 12 Stacks block to make this more balanced.
Transactions (over 2 hour period) Bitcoin: 49,533 Liquid: 1124 Rootstock: 989 Stacks: 779
Sure isn't. I love getting to post this good stuff to the SN maxi dorks.
Thats cool. I look forward to all your future takes of how stupid all this cool new stuff is thats helping push Bitcoin adoption and pay miners.
Mainly people see it as binary (Pass/fail) when it exists on a spectrum. The Two main metrics are:
  1. How many nodes are on the network.
  2. Difficulty to attack the network.
1 gives you how many copies of the ledger exist out in the world. (Censorship resistant from the past to the present) 2 gives you censorship resistance in the present and near future.
With this definition. If two networks (Bitcoin and Ethereum for example) have equal amount of nodes on the network and cost to attack. They are similarly decentralized.
There's other parts of the equation that play a role in how theoretically decentralized a network can be. Like hardware requirements. But that's secondary to its current state.
Click the full tweet to see the associated graphic (Doesnt make sense without it).
After talking with RGB teams this week and seeing Lightning Labs release Taproot Assets on mainnet today. Im incredibly on these three as a cohesive system.
What's everyones thoughts?
They don't have to though. They can partner with someone else to run the sidechain node and collect the fees regardless.
Key distinction is that decentralization at the base layer is unaffected. How it plays out on higher level sidechains is up for debate.