pull down to refresh

Stacks: A Bitcoin Layer for Smart Contractsassets.stacks.co/stacks.pdf
81 sats \ 6 comments \ @cointastical 14 Dec 2022 bitcoin
write
preview
related posts
50 sats \ 4 replies \ @muteness11 14 Dec 2022
Stacks is NOT a Bitcoin layer but rather a separate Blockchain and is being MARKETED by affiliating itself to Bitcoin (as in Smart contract for Bitcoin) and the stacks legion is constantly trying to recruit Bitcoiners LMAO
reply
0 sats \ 3 replies \ @cointastical OP 15 Dec 2022
I've not read the whitepaper in full, but I wonder if this part might be new information that you were not considering -- just as it was new information to me:
The current version of Stacks has a separate security budget from Bitcoin. This security budget is defined by the BTC capital spent by Stacks miners. With the Nakamoto release, most of the Stacks chain history will have Bitcoin finality, regardless of the Stacks mining budget: [...]
This new security model is a major upgrade for the Stacks layer and is highly differentiated from methods like merged mining or federated designs. The forking rules of Stacks are designed to minimize the possibility of forks in general while retaining the flexibility for miners to create forks under certain conditions to repair the chain as a response to specific attacks.
reply
25 sats \ 2 replies \ @muteness11 15 Dec 2022
A Whitepaper? anyone can come up with one ...
I know Stacks inside out .... if your curious to know more, you can listen to my story:
https://podcasts.apple.com/nl/podcast/muteness11-from-behind-the-curtain-of-a/id1497540130?i=1000583136159
reply
0 sats \ 1 reply \ @cointastical OP 15 Dec 2022
Ok, more info on this topic as well:
I saw this new paper from Stacks, on a two-way peg type "sBTC".
Since I am the author of Bip300 (a BIP with a two-way peg), I thought I would give it a little review.🧵(1/5)
https://twitter.com/Truthcoin/status/1603104770952003586 [Nitter]
reply
25 sats \ 0 replies \ @muteness11 16 Dec 2022
Interesting thread (followed too)
I was conned in 2015 (non crypto related) and I was angry at myself of how could someone like me (supposedly intelligent) fall for this, that took me very deep into fraud/con artist rabbit hole.
years later, I went down the Bitcoin rabbit hole and I was curious why people buy anything other than BTC .... I knew I wont get the whole story unless I became an insider and I witnessed ALL the MANIPULATION (which is documented in the pod I shared earlier)
TL:DR better stick to BTC only, yea I'll be accused by some as closed-minded, that accusation is also a tactic heavily used to manipulate users
reply
0 sats \ 0 replies \ @cointastical OP 14 Dec 2022
See also another post, found here on SN, which shares an accompanying paper:
sBTC: Design of a Trustless Two-way Peg for Bitcoin #107060 https://assets.stacks.co/sbtc.pdf
Here's the Tweet that kicked off the Twitter thread where this paper was shared:
NEW: we’re releasing two papers that enable trustless movement of BTC in/out of Bitcoin layers; unlocking the full potential of Bitcoin in DeFi & web apps.
A trustless two-way Bitcoin peg has been a holy grail problem for a decade.
More details👇
https://twitter.com/muneeb/status/1603065919508709377 [Nitter]
reply