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2269 sats \ 4 replies \ @TonyGiorgio 1 Jun 2023 \ on: Too Embarassed To Ask - Your Bitcoin & Lightning Questions Answered bitcoin

I don't get the hype around imaginary chains like statechains, space chains, drive chains, galaxy chains, Arc, etc.

Perhaps I'm a moron or perhaps I've seen enough BS in the past to not care (other merge mining projects), or perhaps I'm a lightning maxi. But anyone can give a tl;dr on why it is worth exploring despite the trade offs?

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1725 sats \ 2 replies \ @ek 1 Jun 2023

I can only speak for drive chains. The main arguments are:

  • It enables experimentation and new use cases for Bitcoin
  • It solves conflicts and infighting
  • It solves “scaling”
  • It solves the blockchain security budget issue
  • It keeps Bitcoin decentralized

source: https://fiatjaf.com/drivechain.html

what trade offs do you mean? I have looked briefly into drive chains during my research on prediction markets (Paul Sztorc did a lot of ground work for prediction markets on bitcoin using drive chains) and I have seen no real downside to them except that people are emotionally against the idea because it sounds like "shitcoins on bitcoin" (which is basically a feature not a bug lol)

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66 sats \ 0 replies \ @TonyGiorgio 1 Jun 2023

The misaligned miner incentive problems are pretty big one IMO.

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0 sats \ 0 replies \ @ek 1 Apr

^ this comment did not age well

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1320 sats \ 0 replies \ @DarthCoin 1 Jun 2023
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