techfeudalist on Nostr: Wow, did you really just ask me to dox myself? I guess you must be new here. 😆You ...

Wow, did you really just ask me to dox myself? I guess you must be new here. 😆You know, you could just ask me technical questions.

Regarding whether Liquid is an L2… It’s amusing that you would argue the point pedantically given that there is no established definition.

If you want, you can listen to Adam Back and Sampson Mow describe liquid as a layer 2 here, right around the 4:00 mark. They should know, right?

https://www.whatbitcoindid.com/podcast/liquid-bitcoin-with-adam-back-samson-mow

Anyway, back to the main topic. I’ll walk you through, step by step, why CAT / CTV create centralizing incentives for miners…

First, did you see Peter Todd’s report?

quoting
note1num…uxr9

https://petertodd.org/2024/covenant-dependent-layer-2-review

“Soft-Fork/Covenant Dependent Layer 2 Review”

I've finally published my big article sponsored by Fulgur Ventures, analyzing all the main covenant proposals, and the L2 proposals that would use them.

tl;dr: Ark is pretty cool, and CTV is a good way to get it.

In his report, Peter admits that both CAT and CTV add risks. He says:

“Unlike OP_CAT, CTV doesn’t appear to raise much risk of unintended consequences beyond encouraging out-of-band fee payments in certain cases. This isn’t ideal.”

The risk that Peter identified for CTV is “encouraging out of band fee payments”.

(If you’d like, just ask and I’ll explain WHY CTV encourages out of band fee payments.)

In case you’re unfamiliar, this is an example of private out of band payments to miners.

Eg, MARA’s Slipstream API:
https://x.com/JStefanop1/status/1760764664651133162

Next, why are out of band payments risky?

Here’s Matt Corallo explaining why these can motivate miner centralization:

https://x.com/TheBlueMatt/status/1780558009841643833

Matt argues that these payments to miners are a risk because they encourage centralization:

“More recently, out of band payments to miners have become popular again, allowing individuals to pay large pools for the inclusion of their transaction(s) using payments outside of the normal bitcoin transaction fee. This can create substantial MEVil [centralization MEV risk] […]”


So to recap, Peter admits that CAT / CTV can encourage out of band payments to miners. Matt explains that these payments can encourage miner centralization.

You said I was “grossly misinformed”, and “completely wrong”. I’ve provided you direct quotes from notable devs.

Ok, now your turn. Explain how I got it wrong and why you believe CTV or CAT “will help to decentralize mining pools”.

I’m hoping you’ll be able to respond with a reasonable rebuttal 🙏 so I might learn if I missed something. But I suspect you’re just mindlessly parroting what you heard. I hope you prove me wrong.

If you don’t respond, we’ll both know who didn’t do any research. 🫡