I don't get your point.
Centralized shitcoin projects already exist and many of them have a centralized peg to Bitcoin, but their shitcoin is the native currency and a fundamental part of everything.
Drivechain is about making non-shitcoin projects that use Bitcoin, help Bitcoin, pay fees to Bitcoin and increase Bitcoin network-effect.
Replies (3)
I agree, but then when Bitcoin becomes this thing that everybody desires and not only very small minority then it is time for people to actually transact with it day to day.
When that happens, if we don't have a system in place to allow people to pay for their coffee in a noncustodial way (or at least have the option to do that even if custodians will always exist and that's fine) and also have some viable ways to get some privacy for their utxos -- if that is not in place, then we will just hand the gold back again to the next generation of central bankers.
Yep, 100%. Your statements about foundational layers of systems being necessarily simple are spot-on, IMHO. I wonder if we are at the beginning of Block Wars v2. While I'm very excited about BTC, I occasionally fret that we will eventually kill this golden goose.
If you want fancy L1 function, buy ETH.
Everything is good for Bitcoin 🙂
