Drivechains On Bitcoin?

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In this video, I discuss the debate surrounding drivechains (BIPs 300 and 301), as well as how I think we should think about the possible unintended consequences of making changes to Bitcoin's code.

Bitcoin is really, really difficult to change; and this is a feature, rather than a bug.

If Bitcoin were easy to change, any government, central bank, or other attacker could swoop in, make changes, and castrate Bitcoin. Fortunately, they cannot.

The Bitcoin ecosystem is still in the process of absorbing the implications of the last two soft forks (Segwit, Taproot), so it's far too early to be talking about another soft fork anytime soon.

Let's revisit this drivechains discussion in 10 years from now. In the meantime, Paul Sztorc is welcome to try out his new ideas on a low-value chain like LTC or BCH.

Not investment advice! Consult a financial advisor.

Ethereum has a leader and roadmap:
https://decrypt.co/105707/ethereum-merge-surge-verge-purge-splurge-vitalik-buterin

Paul Sztorc:
https://twitter.com/Truthcoin

Layer 2 Labs:
https://bitcoinmagazine.com/technical/bitcoin-company-layer-2-labs-raises-3m

BIP 300:
https://en.bitcoin.it/wiki/BIP_0300

BIP 301:
https://en.bitcoin.it/wiki/BIP_0301

SegWit2x:
https://en.bitcoin.it/wiki/SegWit2x

Unintended consequences of changing Bitcoin code:
https://twitter.com/hodlonaut/status/1696923923101761941

Under BIP300 rules 26% of miners can lock coins in a drivechain indefinitely:
https://twitter.com/zndtoshi/status/1696256459904806917

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#Drivechains
#PaulSztorc

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