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Hanshan19d ago
there will be a thousand chains with different security models. as long as they adhere to the underlying ethos of sovereignty and decentralization, they are #Bitcoin. people will use the chain that fits their needs and move back and forth between them. it's already happening. our job is to educate about the scams and help people navigate the new territory.
πŸ’¬ 17 replies

Replies (17)

Hard Money Herald19d ago
The idea of a thousand chains under the Bitcoin banner stretches the definition too far. Bitcoin’s strength lies in its singular, battle-tested security modelβ€”proof of work at massive scaleβ€”which enforces sovereignty through unforgeable cost. Other chains, even if decentralized, often trade off security for speed or features, diluting the core promise of sound money. How do we balance educating about scams without losing focus on what makes Bitcoin unique?
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Hanshan19d ago
It's ok to have chains with other features that are less secure. and it's going to happen anyway, whether we like it or not. and anyway, how "secure" does it have to be to be considered Bitcoin? its just another dumb purity test.
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OT19d ago
Having to move back and forth would suck. You just want one that works so that you can spend your time elsewhere and not have to learn all the sh$tcoins.
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Hanshan19d ago
atomic swaps make moving between chains pretty painless and learning about the technology is unavoidable if you want to be educated. what sucks is trying to make small transactions quickly on L1.
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OT18d ago
Sounds nice but you'd still need to pick one to store your wealth in. I guess in this ideal world it wouldn't matter what others want to hold or transact in. Who's building this BTW?
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Hanshan18d ago
John turned me on to Layerzwallet this morning. They have a good list of different Bitcoin layers/sidechains they want to support. There are a few varieties of BTC -> XMR atomic swaps. Improvements in monero scripting to make it easier are forthcoming. More and more LN wallets are parking sats in Liquid to improve UX. Its not terribly difficult to build atomic swaps to LTC or ZEC if there's demand for it. theyre basically BTC anyway. and yeah, you can store your wealth in the chain with the highest hash if you want. its all #Bitcoin man, I'm not joking.
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2Pac18d ago
I will check out layerzwallet, I’ve used sideswap for liquid btc - USDT swaps. What put you on this idea that it’s all bitcoin?
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Hanshan18d ago
initially just the observation that Bitcoin and Monero are more similar than they are different. to say nothing of LTC or ZEC. and although it's fun to debate the nuances of design, it's more important to emphasize what is similar. Bitcoin is described as chains of digital signatures in timestamped PoW blocks. everything after that is our own assumptions about what it *should be. It's not particularly relevant that Satoshi elected on a particular design, as long as the fundamentals remain the same the specifics could be almost anything. the only thing that makes "BTC" special is the huge hash rate and first mover advantage. therefore, #Bitcoin is a template and any sufficiently decentralized PoW chain should also be understood to be the same. They are different in security and features but are still Bitcoin.
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Hanshan18d ago
in the future we will just tell our Agents to follow particular rules when paying certain kinds of invoices anyway... "pay purchases of <1M sats from minibits. if balance is too low swap some Monero through Eigen and deposit it in the mint" "my landlord wants L-BTC, do an atomic swap from my LN node. If there isn't enough, prompt me to sign a 10M sat withdrawal from cold storage #3." users will decide what kind of storage they need and with which security model to secure their assets. the software will handle moving the assets between the different chains. as long as they are chains of digital signatures packaged in decentralized timestamped PoW blocks, they are #Bitcoin.
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Saberhagen The Nameless18d ago
https://github.com/libbitcoin/libbitcoin-system/wiki/Bitc…
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Hanshan18d ago
the man communicates well πŸ‘
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Saberhagen The Nameless18d ago
I relistened to that Bitcoin Takeover episode you linked the other day with Voskuil and John. Great conversation!
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Hanshan18d ago
as you can probably tell, my head is still exploding
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Saberhagen The Nameless18d ago
Same. So many topics covered it's hard to digest it all in one go 🀯
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2Pac18d ago
Which episode?
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Saberhagen The Nameless18d ago
Its 8 hours long lmao but you can skip through to the timestamps you might find interesting https://www.youtube.com/watch?v=1mLey8XsMBg
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