I hate sidechains, they seem like taking a step backwards. These sidechains are just Altcoins with a different name, you don't magically get coins on them you have to buy them and most are going to be shitchains just like all the shitcoins out there. Be weary of this and don't run off and invest in whatever sidecoin comes around screaming it's the future, remember it's just an altcoin.
Yes, ignorants are usually scared of what they don't understand
Would rather prefer that exchanges remain dependent on centralized databases, which they currently do in order to move their clients coins?
We perfectly understand that this first sidechain requires permission to use it. Thanks.
You do realize that this is a
commercial service, that these exchanges are free to use or not, at will, right?
Yes and I also do understand that most Core devs are being on the Blockstream pay roll and are not interested to make the bitcoin permissionless blockchain scalable so their company can make a profit. Thanks.
So what is your solution? You don't trust devs that are free to develop whatever they want, so what should be done? Should we give Bitcoin development to some theoretically uncorruptible government of your choice, who will always do the right thing (in your opinion)? Or should we just wait and let nature take its course, and see what happens?
I don't know what should be done but what I know is that if Core devs successfully impede on scaling the bitcoin blockchain for their own profits then one can conclude that bitcoin has been hijacked and is under control of a private company so the whole experiment is a failure.
If it is possible for Bitcoin to be hijacked in the way you describe, then it deserves to die.
Personally, I think the imminent death of Bitcoin is being exaggerated a bit these days.
Maybe but things are already heading the way I am describing it though so its not looking good...
Ultimately I think the bitcoin blockchain will find a way to scale even if Core/Blockstream are trying hard to avoid that but this is yet to be seen.
I agree with you. I also believe that Bitcoin will evolve as necessary.
I'm not as sure as you that Blockstream (and the Bitcoin devs that work for them) are acting in a purely self-serving manner here.
It seems to me that it is entirely possible that the Blockstream way of scaling Bitcoin may be a perfectly legitimate way to address the problem without sacrificing decentralization - which in my
opinion, is an even more important consideration than scaling.
It seems wrong to me to
presume that Blockstream is acting in a self-serving manner just because the possibility of conflict of interest exists. We should at least give them some benefit of the doubt. I think a good argument can be made that their solution is the
best solution proposed, in that it addresses scalability AND preserves decentralization of the main Bitcoin network. But I understand that some people disagree, and I am happy to just wait and see what happens as nature takes its course.
You may be right, and this may be the end. But I remain optimistic for now.
