0 sats \ 11 replies \ @l0k18 2 Aug 2023 \ parent \ on: For a few hours i was a millionaire. My story : meta
No, I didn't connect the two things together until I saw the feed just now, and then thought to myself "ohh, that's that guy!".
Also, please continue to assume I am stupid, that's helpful for me.
I'm not assuming you're stupid, i know you are evasive.
Lots of people would love to know how DC introduces arbitrary emission rates in bitcoin. Heck i bet you would win the Nobel prize.
After you come around to that, in ayear or so, maybe take a shot at the other random shit you said about DC increasing "throughput" a completely open ended term that could mean anything from increasing demand to overburdening miners and beyond. One meaning increases network security, and the other being conjecture.
I fully expect you to ghost at this point or introduce some other non-sequitur. See you in a week on my next post about yellow bathtub ducks !
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Ah, see, I couldn't stop myself from checking in in the late afternoon, been busy fixing clogged drains and greasy cooktops.
There is nothing added by DCs except complexity and some degree of trust problem. Is it federated/(delegated) Proof of Stake or this sort of thing? If that means the powers that be in this little "side chain" decide, your "pegged" bitcoin token can still be removed from your ownership. Instead of a simple protocol vulnerability, they might exploit human vulnerabilities, acquire the keys of other signatories, or who knows what other creative mischief they can get up to.
If it is proof of work, then it's got a problem with opportunistic, and even automated profit seeking systems like NiceHash. I was already writing a prototype proof of work based on extremely large integer long division in 2018. I'm not new to this. I was using Nicehash, and then had 0.12BTC not get paid out to me, like so many others. And then there is also exploits that involve other protocol vulnerabilities, timing attacks, all kinds of ways can disrupt these systems.
The next innovation in this space will come out of another L2 and/or L3s going on top of LN, and maybe this Ark thing and other projects that are not trying to reinvent the wheel like DC is. I wouldn't even have a clue what the next thing that will be as big a deal as LN will be. I like to think that Indra will be, but I gotta finish writing that thing yet.
You might think it's different, but all the cryptography I am aware of involving multisig and threshold quorums and such have all the fun vulnerabilities of democracy itself, and add on the as yet not prosecuted ponzi schemers who can bring their ill gotten tokens to piss in a DC pool and maybe they can even wrangle to have an undue amount of bitcoins "accidentally" signed into their control.
There's probably more ways to break DCs than I have listed here or previously mentioned. I'm just telling you this because I think you are overly confident in them because you don't know how many ways these systems can be wrongly designed.
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Is it federated/(delegated) Proof of Stake or this sort of thing?
Again, this has nothing to do with DC. How can you write so much about something you don't know about and have not even looked up the basics about. I guess you enjoy wasting time. bye troll
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When drivechains first marketing point is not a hostile attack on the credibility of bitcoin I'll start paying attention.
But unlike SegWit, it is possible for a Drivechain txn to follow all the rules, yet still result in “theft”. Namely: it could follow all of the mainchain rules, and all Drivechain rules, but it might break one of the sidechain’s rules (of which the mainchain is ignorant, by design). Thus, mis-withdrawals are possible – they just take 3-6 months to go through (as do valid-withdrawals).
Oh, mis-withdrawals. Extra sidechain rules. It's DAO in another guise right?
Like I said: Social Engineering Attacks.
And how long before new tokens? And who decides the emission rate? Doesn't seem like drivechain takes the notion of authenticity of the chain of custody very seriously, putting quotes around the word for misappropriation of property.
Nobody is going to take this crap seriously, it has nearly zero chance of doing any better than any shitcoin, and nearly zero chance of not being used to launch yet another ponzi scheme, with deliberately complex sidechain rules that some people already know how to exploit.
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Yay. You made it though a whole paragraph. Way to cherry pick. Enjoy them . I hope they give you the shits.
Litterally answers that in the next paragraph.
How are you able to go through life half-understanding and half reading things.
In the case of a DC rule that breaks a sidechain rule, this still does not break bitcoin. For instance, if some bug or unintentional side affect leads to a withdrawl, that withdrawl is made back into bitcoin. We know who benefits from it and have time to prepare for 3-6 months. This is the role of bip 300, hash escrow.
If you never want anything to do with DC or a sidechain , you don't have to. You can keep using bitcoin as you have, but in an even more secure network as the increases in miner incentives benefits the whole network
See where he says mainchain is ignorant of the sidechain rules by design ? That means no one gets to change bitcoin emmission. The emission of the token project on the sidechain is determined by the project's devs. If sovereing investors want to accept a different emission rate on the side chain or a risk that an withdrawl might happen by accident but the trade-offs are worth the risk, that's up to them. Like anyone who chooses vanilla over strawberry icecream.
What drivechain allows for, that other projects like eth do not, is market accountability and transparence. ETH and Vitalik can and will (and have) just fork their bugs away, and keep the project going if a large enough theft happens . The trustless , CEO'less environment of bitcoin means only valuable projects will survive scrutiny. From first principals, ETH violates economic sound money. From those same first principals, ETH on Drivechain is improved by them.
Nobody is going to take this crap seriously, it has nearly zero chance of doing any better than any shitcoin....
Your low attention span and ability to read entire articles is disturbing. In my article are several well versed bitcoin devs who are taking it seriously.
congrats on one month and four days or however many.
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You put your credibility back to zero every time you reference your own unfounded and deceptive attempt to attack my character.
Doesn't seem like you really care to have a debate about the problems of broadcast model state machine replication so much as to score some points in the imaginary scoreboard in your mind that you have to keep repeating yourself, and here I am the one with the early stage memory problem.
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We know who benefits from it and have time to prepare for 3-6 months.
In other words, if someone is stealing, we can se it and have 3-6 months to kill the project with the news, if the error is not corrected. Devs have a huge incentive not to kill their own project for a limited sum. He explains this elsewhere aswell. There is also a limit on how much can be withdrawn from the project at once, back into bitcoin. So a rug pull would be seen 3-6 months in advance and be uneconomical
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its an impossible debate because you never answer any quetions or reply to any specific points. You're like some sort of frustrating hyper autistic chat bot .
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You assume that anyone GAF about your project. You already know most bitcoin Maxis are hostile to side chains of any kind. The more technical ones are even more hostile because they already did many years BUILDING shitcoin stuff and got to see a lot of things up close that you never have, that reinforced and led me to becoming a Maxi.
You refuse the first question which is to explain what kind of governance it uses, and evade all the standard categories of federated and proof of work, and refuse to address the question about whether we need more than one broadcast based ledger.
If it was so simple and I'm so stupid then how come you don't put that up front because it's the only thing that matters since you insist on a BLOCKCHAIN.