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Topic: On Paul Sztorc’s BIP-300 proposal - page 2. (Read 491 times)

legendary
Activity: 2212
Merit: 7064
Cashback 15%
June 16, 2021, 10:03:11 AM
#6
This is not a purely technical objective you're trying to do here, what you want to be accomplished also requires social actions. It's not like you can make a BIP and then all altcoin stakeholders drop what they're doing and exclusively use BTC, many of them have their own reasons why they need/want to use Monero/Zcash// or others, which people are never going to come to a consensus to with just new designs and technology alone. I fail to see how this is a problem in the first place.
I am not a technical expert, but I know a lot of people who would drop their holding of many altcoins and get back into Bitcoin if sidechains would enable better privacy.
All BIP proposals happened just like that, some people wrote a code, people tested it and see how it works, bugs got fixes, miners and nodes saw potential for improvements and profit and they accepted it.

As far as I'm concerned, I don't see any problem (or particularly care) with whether people want to use bitcoin or not or which particular altcoin they use, it's not like the act of using one is a threat to bitcoin's existence.
I really don't understand what are you talking about...
Bitcoin dominance is dropping for years and it was even below 40% recently so money is obviously going away in different distractions and stupid projects, so it's obviously affecting Bitcoin.
legendary
Activity: 1568
Merit: 6660
bitcoincleanup.com / bitmixlist.org
June 16, 2021, 09:50:55 AM
#5
If we can use Lighting Network then I don't see why we can't have Bitcoin sidechain and kill bunch of altcoins that are just a distraction and many of them are a scam.

This is not a purely technical objective you're trying to do here, what you want to be accomplished also requires social actions. It's not like you can make a BIP and then all altcoin stakeholders drop what they're doing and exclusively use BTC, many of them have their own reasons why they need/want to use Monero/Zcash// or others, which people are never going to come to a consensus to with just new designs and technology alone. I fail to see how this is a problem in the first place.

Would people really use Monero or Zcash if Bitcoin had private transactions? No.

As far as I'm concerned, I don't see any problem (or particularly care) with whether people want to use bitcoin or not or which particular altcoin they use, it's not like the act of using one is a threat to bitcoin's existence.



Quote
* Scale BTC worldwide

This is more important to me than killing a bunch of altcoins.
legendary
Activity: 1512
Merit: 7340
Farewell, Leo
June 16, 2021, 09:10:22 AM
#4
Would people really use Monero or Zcash if Bitcoin had private transactions? No.
No, they wouldn't, but Bitcoin doesn't have private transactions or to formulate it better it won't achieve the same privacy Monero offers. The lightning network surely removes footprints from the block chain, because off-chain transactions aren't publicly announced, but that's all it does. The node knows how much money I'm depositing and can track me down whenever the owners want. Even, if you ran your own lightning node, when you'll open a channel you'll expose your liquidity.

In Monero, you can't even track the transacted amount. Just like how electronic cash should be in the first place.
legendary
Activity: 2212
Merit: 7064
Cashback 15%
June 16, 2021, 06:02:39 AM
#3
If we can use Lighting Network then I don't see why we can't have Bitcoin sidechain and kill bunch of altcoins that are just a distraction and many of them are a scam.
This would be one option for improving privacy for Bitcoin without the need for using mixers or selling BTC for other privacy based coins.

Why would people who already use altcoin (such as zCash and Monero) moving back to Bitcoin sidechain, especially when their coin have lots of user and the sidechain barely have any user?
I can say the same thing for Lightning Network, but yeah LN is sponsored by some whales and advertised as a holly grail and ultimate solution for everything Smiley
Would people really use Monero or Zcash if Bitcoin had private transactions? No.
legendary
Activity: 3430
Merit: 3071
June 16, 2021, 04:05:36 AM
#2
forget about it, it's already been debated and long forgotten


why is it you (windyFURY) always pop up with some "drama"? It's becoming quite a habit for you
legendary
Activity: 2898
Merit: 1823
June 16, 2021, 02:51:16 AM
#1
I have recently went into a debate with some of the more well-informed/smarter people in the forum about POW, and why we should be open minded about upgrades for Bitcoin. Of course I was not the open minded one, and I didn’t agree with changing the POW with another algorithm, or another “mining mechanism”, because it would break the very thing that makes everything stick together in Bitcoin. The incentive structure.

BUT from technical perspective, I am asking those same people who told me to be open minded. What are your opinions on Paul Sztorc’s proposal? Should the community be open minded enough to campaign for this upgrade?

https://github.com/bitcoin/bips/blob/master/bip-0300.mediawiki#Abstract

BIP: 300
Layer: Consensus (soft fork)
Title: Hashrate Escrows (Consensus layer)
Author: Paul Sztorc <[email protected]>
            CryptAxe <[email protected]>
Comments-Summary: No comments yet.
Comments-URI: https://github.com/bitcoin/bips/wiki/Comments:BIP-0300
Status: Draft
Type: Standards Track
Created: 2017-08-14
License: BSD-2-Clause
Post-History: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-May/014364.html

https://twitter.com/truthcoin/status/1404457426590576649

Bip300 (my project) allows us to:

* Shrink the layer1 blocksize
* Have ultra-strong zCash privacy/mixing
* Emulate any Altcoin (making Alt-marketing ~impossible)
* Scale BTC worldwide
* Painlessly activate new soft forks or even hard forks

And it is 100% opt in and reversible.

https://www.youtube.com/watch?v=oga8Pwbq9M0
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