The history of Bitcoin and altcoins has shown that the overwhelming, long-term, non-speculative, market demand is for the straightforward use-cases of secure store-of-value and cheap and convenient medium-of-exchange, along with a smaller niche occupied by Monero’s enforced privacy5 use-case.
He completely skips over the market demand for smart contracts/defi. There's clearly demand and product/market fit there, whether most bitcoiners like it or not.
There is demand for all those things. But there hasn't been much consistent, long term, demand. What there has been is a lot of hype that tends to die down as people move onto the next thing.
...and uniswap is a market for defi stuff on Ethereum. That isn't closely related to the problem drivechains is trying to solve, as it's about many different currencies/tokens rather than a single common currency.
I don't think this demand is organic - at least largely. The demand is inorganic in a sense that people use it as a gimmick for the sake of using it as a gimmick.
WTF, at BM Conference, they let only 30 min to discuss about drivechains when is such a complex discussion.
Why they didn't organize an open table with more people in a separate room or something and let them talk freely?
maybe these also-ran ideas hanging around lately are a symptom of the ongoing Craig Wright attack that made some higher pedigree developers retreat from contributing.
For those proposing drive chains as a subsidy for miners: miners dont need to be subsidized. If they grow too big to be profitable they should be allowed to fail. We dont need to change bitcoin to subsidize mining.
He completely skips over the market demand for smart contracts/defi. There's clearly demand and product/market fit there, whether most bitcoiners like it or not.
There is demand for all those things. But there hasn't been much consistent, long term, demand. What there has been is a lot of hype that tends to die down as people move onto the next thing.
It's very often the case that Uniswap alone collects more fees than bitcoin itself:
https://cryptofees.info/
...and uniswap is a market for defi stuff on Ethereum. That isn't closely related to the problem drivechains is trying to solve, as it's about many different currencies/tokens rather than a single common currency.
I'm just pointing out that there is clearly a lot of demand for defi/smart contracts.
What are these charts based on? Is it the rolling average over a month?
It's just the last 24 hours and the the seven day average.
I'm on Peter Todds side on this.
I don't think this demand is organic - at least largely. The demand is inorganic in a sense that people use it as a gimmick for the sake of using it as a gimmick.
And yet during a bear market there are smart contracts that can collect more in fees than bitcoin itself on a daily basis.
WTF, at BM Conference, they let only 30 min to discuss about drivechains when is such a complex discussion. Why they didn't organize an open table with more people in a separate room or something and let them talk freely?
Because the goal is entertainment for an audience to draw in people buying tickets.
😂😂😂 good point
Is Peter running as Paul's VP to promote drivechains?
You almost got me. But then I saw your nym...
So you are refusing to give a public comment?
My comment wasn't public?
Please don't keep me uninformed. :)
This is a very cool idea. Todd hates the idea of drivechains, but is being paid $2500 to write about it.
Paid? Haha.
Yeah he was paid to finally put his objections to Drivechains by the developper of Bip300.
https://i.postimg.cc/sXmH6BvR/vader-power-dark-side.jpg
That's point!
this stuff again ?
maybe these also-ran ideas hanging around lately are a symptom of the ongoing Craig Wright attack that made some higher pedigree developers retreat from contributing.
Too bad he wants to break the 21M cap with tail emissions.
For those proposing drive chains as a subsidy for miners: miners dont need to be subsidized. If they grow too big to be profitable they should be allowed to fail. We dont need to change bitcoin to subsidize mining.
Can we get a TL:DR?