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50 sats \ 2 replies \ @supertestnet 7 Aug 2023 \ on: Drivechains - BitMEX Research bitcoin
this twitter thread contains my response: https://twitter.com/super_testnet/status/1688544017577824256
but also an additional database of sidechain identities and sidechain commitment transactions.
In addition to being a slow process, users would also be unable to initiate a withdrawal on demand and would need to wait for a scheduled peg-out transaction which happens every three months, therefore the time it takes to withdraw will be inconsistent depending on when the withdrawal is required.
they also don't mention that these exchanges btc <-> drive-tokens.They will not be frequent and will be relegated to interemediaries . They are not intended to be regular occurences, and are mostly for the side chain devs to start and secure their spot with real BTC, and those technicaly inclined andwilling to wait 3-6~ months. Most users will buy in and buy out using intermediaries with low time preference.
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please cc @truthcoin on twitter, interesting analysis
...unless you are him *queu spooky music*
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