I used to think there were two ways of scaling Bitcoin: one would be with trusted entities, i.e. banks, but deployed in a decentralized way that limited liability and government capture, and the other way was with Drivechain.
Given what we're seeing with all the Lightning custodial wallets being targeted, implementing full KYC and migrating to Spark (which is becoming almost the one world central bank) that first option is looking worse.
(To be fair my plan was never to have these companies be the custodians in the first place, but it was a bad plan anyway.)
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Replies (11)
Open more LN channels..
Do you think drivechains are the way forward at this point and do you see any meaningful possibility that BIP300/BIP301 get soft forked in?
What about Ark?
Why is everyone so excited about this centralized service? Especially when the people behind it claim it's self-custodial, yet it clearly isn't. Spark, why are you lying so openly about this?
I believe that nothing short of 100% sovereignty is acceptable. With the new home miners think about it ... Everyone has to get a home miner and a node. It's the cost of a light bolt. Imagine 0.01% of the world population mine with 2 TH. The network will be secured everyone who owns will pay the price of a light bolt per day to mine and the person do not need to rely on government for nothing.
It depends on the definition of scaling, computational scaling is limited and favours sharding of contexts then maybe use zk proofs to settle between contexts. But data availability isn't doomed, it is actually possible to scale it with users, as long as the number of users is actually objective, which is the real challenge. If you KNOW that there are 10X more users now than last year, then you can tolerate 10X more data in a data availability sampling paradigm. Which is why Celestia needs to hardcode the number of clients the community believes there are around the world.
But I wonder if someone can use Proof Of Work as a proxy of how many users there are watching the chain and sampling chunks of the data.
I don't mean necessarily decentralised mining, but just using the hashrate as a proxy for demand, and demand as a proxy for the light clients taking data availability samples...
This is not something you can do in celestia without oracles of the token price, but we have hashrate and they don't.
Can be used for good, and can be used for bad. Taken to the extreme, bitcoin can be used to trap users way more efficiently than fiat ever did.
Temptations of convincente, misleading ux, and “trust me bro” privacy policies, will drive most user to the same old systems of control, repackaged and sold to you as the easy way to use bitcoin, paid with data. Your data.
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It's not clearly self-custodial. Nothing is clear, everything is awfully confusing and that's how everybody is tricked about the claims of Spark, but not only Spark, it also applies to Ark and Lightning itself.
I haven't even thought about this stuff because I put such small amounts on these wallets. I have no idea how they work.
You have the right to not think about it, but the promoters of this technology should stop lying.
I mean I need to read the docs. I didn't realize there was drama. 😊