The security model of drivechains is perilous. One has to hope that mining pools are honest and any change to the structure of dominance remains favorable. With a maximum limit on number of drivechains it creates its own perverse incentives over time of hostile takeovers and out of band payments. The net result is that sats locked in drivechains have an encumberance value that is indeterminable and such coins would not be suitable for payment in place of Bitcoin.
I would rather use PayPal or Venmo than a drivechain. The certainty around those for payment finality is far higher.
If a solution cant best these fiat rails then its a nonstarter in my book.
Vic
npub1yx…p7kza
2024-09-24 15:12:53
in reply to nevent1q…7l2k
Author Public Key
npub1yx6pjypd4r7qh2gysjhvjd9l2km6hnm4amdnjyjw3467fy05rf0qfp7kzaPublished at
2024-09-24 15:12:53Event JSON
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"kind": 1,
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"content": "The security model of drivechains is perilous. One has to hope that mining pools are honest and any change to the structure of dominance remains favorable. With a maximum limit on number of drivechains it creates its own perverse incentives over time of hostile takeovers and out of band payments. The net result is that sats locked in drivechains have an encumberance value that is indeterminable and such coins would not be suitable for payment in place of Bitcoin. \n\nI would rather use PayPal or Venmo than a drivechain. The certainty around those for payment finality is far higher.\n\nIf a solution cant best these fiat rails then its a nonstarter in my book.",
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