goatmeal on Nostr: it's not possible to do this efficiently without relying on opcodes that are not ...

it's not possible to do this efficiently without relying on opcodes that are not available yet. some different ways to do it include:

- drivechains, which require the activation of BIP 300
- ark, which doesn't function optimally without OP_CTV
- rollups, which are probably very difficult to make on bitcoin and may require more controversial opcodes like OP_CAT

basically what I want is the ability to buy a money certificate directly on layer 2 without having to personally interact with layer 1 unless there is a problem. just in case, I would need to be able to go down to layer 1 and forcibly redeem the money certificate even if the layer 2 is dead or not cooperating.

liquid and rootstock lack the property of being able to forcibly redeem L-BTC and RBTC for layer 1 BTC if a permissioned federation doesn't cooperate. I don't want to trust a federation. if I did, I would be using some silly crap like EOS. that's just not the security model I want. I want my scaling solution to inherit 100% of its security from layer 1.

when you look out in the wild for something with these properties that is widely used, you're only going to find optimistic rollups on ethereum. while I feel pretty safe using these, there are still doubts about whether they are able to provide enough fee revenue to layer 1 or if they are just vampiric. it would also be very difficult to make something like this work on bitcoin. ark has been described as a pseudo-rollup and some people have criticized it for also depriving layer 1 of fees.

I would personally prefer at this time to just go with drivechains since the bitcoin miners would get more fee revenue compared with the other solutions. but I think that the more likely outcome is that the community would rather try ark first, since there is more support for OP_CTV than BIP 300.