0 sats \ 2 replies \ @lightcoin_ 1 Sep 2023 \ on: The False Dichotomy: Soft Forks vs. Innovation bitcoin
I wouldn't say that bitcoin isn't innovating, but rather that the space of innovation is inherently more limited than it otherwise could be if bitcoin had more capabilities (which can only be added via consensus fork). Some of the potential innovations bitcoin is missing out on -- in the realms of privacy, scaling, self custodial security, to name a few -- would be hugely valuable to me personally and I think to many other Bitcoiners as well.
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51 sats \ 1 reply \ @evbosats 1 Sep 2023
Privacy = Unauditable, obfuscation is preferable to privacy on a public ledger Scaling = possible through lightning, fedimint and various solutions that don't require soft forks or big blocks (I see you roger) Self custodial security = What? Bitcoin already has this. Plus there's multi sig and miniscript.
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0 sats \ 0 replies \ @lightcoin_ 2 Sep 2023
Privacy = Unauditable, obfuscation is preferable to privacy on a public ledger
"Unauditable" is a misnomer; you can audit the code. If the crypto is implemented properly then there is no need to be able to do simple-coin-count-auditing. Additionally, obfuscation may be preferrable for you but it is not for me (and many other people I know). In any case, if you don't like the strong privacy provided by zero knowledge protocols then you don't have to use them. It can be an optional feature available for anyone who wants to use it, and ignorable by anyone who doesn't want to use it.
Scaling = possible through lightning, fedimint and various solutions that don't require soft forks or big blocks (I see you roger)
Lightning will need more block space as usage increases. Fedimints have a weaker security model than other protocols that could be implemented with a soft fork (e.g. L2 rollups, validia chains, drivechains, Enigma/Ark).
Self custodial security = What? Bitcoin already has this. Plus there's multi sig and miniscript.
I was referring to vaults and smart accounts, which have more flexible spending conditions that enhance the security of self-custodial setups. Multisig and miniscript are useful but can't implement the kind of spending conditions that I would like to have for my coins.
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