eCash has the goal to eliminate central banks and a bold strategy. There's a chance it will work. It might make sense just to get some in case it catches on.
Joined July 2020
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eCash saves the world retweeted
The eMudhra incident is a striking illustration of the fundamental flaw in how SSL certificates work: every Certificate Authority is effectively empowered to vouch for every website on the planet.
That’s insane.
Hopefully the world eventually adopts a Bitcoin name system.
eCash saves the world retweeted
Two custodians moving IOUs. That’s not Lightning. That’s a bank wire with a bolt emoji
Some unsolvable problems of Lightning:
eCash saves the world retweeted
So now that Paul is forking off, there's no reason left not to activate BIP300
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eCash saves the world retweeted
The ‘Lightning’ wallets people actually use are down.
"It is well enough that people of the nation do not understand our Bitcoin and Lightning system, for if they did, I believe there would be a softfork before tomorrow morning."
― Henry Ford
eCash saves the world retweeted
Network: Alive ✅
Difficulty: 1 --> 16.7 M ✅
Pie Chart: now contains pool names ✅
Just a question: wouldn't it make more sense for a truly altruistic "Bitcoin Red Team" to operate silently instead of daily hyping their own achievements while generating panic and waking up potential attackers to go scan the git histories of projects to find the vulnerabilities?
You wouldn't expect these people to be vetting every change to ColdCard, right?
Now imagine what is going on on Bitcoin Core with their average of 4 commits per day, most of which are made with the sole purpose of justifying grants for the full-time members of the "Core Team".
Ossification is good, Bitcoin really needed to ossify. But only after opening up the gates of Drivechain that solves all the problems.
If we can get an eCash that is ossified from day one that will give it lot of credibility, with none of the downsides.
ecash.com/ is very likely to have an OP_VAULT soft-fork activated after this incident.
Bitcoin, not so much, because, you know, "there is no consensus" or "it's a trillion-dollar assets and we can't risk it (except for the dozens of ongoing unnecessary refactors)".
Hardware wallets were always a scam and a terrible idea.
Multisig is much better.
And if Bitcoin wasn't completely broken we would have OP_VAULT by now.
Fiat money pays for this type of stuff.
The only way to stop it is by defunding the State.
It can only be done by completely replacing fiat money entirely with sound money that the government can't inflate.
Everybody has to use such money, every day, for everything.
Some people will read this and pretend it's a nothingburger, they have been trained to accomodate for all the problems and assume everything is great.
They don't realize that a Bitcoin that people don't use directly will be easily coopted by the State.
BTC has lost the plot:
I flew into LA and caught a shuttle to my hotel. Driver says trip is free but he accept tips.
Ask if I can tap to tip.
He says "no but I have Venmo" and hands me a card.
I say "don't have Venmo but I have bitcoin."
He said he has bitcoin too...in his investment account.
I said "get a bitcoin wallet for your phone".
Still driving, he turns around with a look of surprise: "you can accept bitcoin to your phone!?"
Can anyone provide a summary of how people who don't support Drivechain think about the problem of the security budget and how to fix it?
This argument is compatible with a very low blockchain usage and a very low value per coin. No one will spend much resources to attack a blockchain that has no value, then that blockchain can have a small security budget, determined by its very low usage.