0 sats \ 0 replies \ @LibreLoya 17 Aug 2022 \ on: Thoughts on BIP300 / Drivechains ? bitcoin
I don't care about shitcoinery but I do care about non-custodial privacy.
If drivechains can achieve that via a L2 zcash/monero with Satoshi units i am totally in.
I'm building a silent payments prototype (no-fork-necessary)
Track the progress on https://twitter.com/LibreLoya
Strike has well-funded channels with every major wallet, exchange, merchant there is.
Sending payments will not be a problem at all.
A few counter arguments
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P2Pool mining requires users to run a node. The bigger the fee market, the more incentive there is to run node/miner.
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Centralization is arguably a bigger issue in Bitcoin. Mining centralization is more dangerous than node centralization. Chepear to fight centralization buying hard drives than ASICs.
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I don't care about p2p cash. I care about censorship resistance. The last few weeks have proven that privacy is necessary for such goal.
Remember that you are donating for 'defensive riffles' and 'defensive bullets' that will end up in somebody's brain.
Don't fund the war. Fund people in need and causes helping those people in need.
I'm worried about the long term mining incentives.
We urgently need a merge-mined sidechain with bigger revenue than RSK.
Otherwise, the energy market could shift to Tail Emission currencies like XMR.
Depends on when was the latest submarine swap. Usually happens after doing a big tx where they can take fees to do that.
Best case scenario only 1% of funds haven't been swapped yet. Worse case scenario 100% of funds haven't been swapped yet.
Temporary trust is still trust.
It's a step up for sure.
I still worry about:
- Their centralized lightning node being taken down
- Their submarine swap service being taken down
- Doxxing dissidents by seizing the logs about user metadata and user transactions (necessary for operating a centralized lightning node)
Muun is a centralized third-party.
Located in the USA no less.
Unless you are gonna tell a trucker to run and manage lightning node this is not the solution.
Only on-chain or only Paynyms.
Yep, it's the channel opening phase.
Still worth it for dissidents and people looking to donate to dissidents though....
It protects both donors and recipients by generating stealth addresses on the fly.
Convincing 'truckers' or other dissidents to setup and manage a linux a server and install a lightning node + tor, or install a btcpayserver using only xpub is really not gonna happen.
Just download the wallet, generate the paynym, receive anonymous donations.
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Next time, download Samourai Wallet on every participating trucker.
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Help truckers create a PayNym.
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Publish a list of PayNyms.
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Donate without fear of retribution or censure