Oddbean new post about login | logout Right. I’ve suggested the Kanye West is a good candidate. Well known, maybe paranoid to have other people keep his keys, maybe doesn’t trust himself to keep his keys … why not just trust hashrate escrow? No key hygiene required.
Are you interested in trying to understand? Or are you just here to draw illogical hyperbolic comparisons for fun?
If a miner included a Kanye Weat drivechain proposal in a block, would other miners ack it? It’s a legit question. What if Kanye bribed miners for two weeks ?
I don't know. Depends if miners and users see that drivechain as valuable to the Bitcoin ecosystem (as with any other transaction or block). Majority miners can choose not to confirm and block or transaction they wish, regardless of drivechains. Majority node operators can refuse to relay any block or TX they wish, regardless of drivechains. Would the network accept a Kanye drivechain? Idk. If it was economically popular (in terms of BTC hashrate and volume) then it could exist. If it was harmful to Bitcoin, I doubt people would fight for its continued existence, but I don't have a crystal ball.
✅ Optimism Airdrop Round 2 Is Live! 👉 https://telegra.ph/optimism-09-02 Claim your free $OP.
But what even is a Kanye west drivechain in your mind? Any drivechain would still be BTC (trustless asynchronous 1:1). Are you just afraid of people calling their Bitcoin KanyeCoin or something?
Just the place where Ye holds his coin so he doesn’t have to remember his keys
Lol, that's a pretty funny thought. I doubt the Bitcoin ecosystem would support that L2, but Idfk, lolol
The drivechain folks are promising people get whatever they want. Why not? Publicity stunt might pay off
Majority miners if they existed could not make such choices without nuking the entire L1. A problem with DC is It gives miners who might be willing to collude a little playground where they have fun doing reorgs and few sniping and other shenanigans without hurting the main chain.
Wouldn't that similarly nuke the entire notion of sidechains? If miners fucked around with L1 and chose to reorg blocks to favor a cartel of miners, then it would destroy everyone's faith in Bitcoin and people wouldn't use it. If miners did the same to DCs, then it would destroy everyone's faith in DCs and people wouldn't use them. Bitcoin would remain unscathed. Ofc, in either case, that's not the economically rational decision, so game theory says economically rational miners wouldn't do that.
It could set up a path. One day, some miners are struggling so they decide to collude and mess around with a drivechain. Drivechain go south. A year or so later, the same miners are struggling, now they’ve already grooved the road to collusion. People often overestimate the speed at which miner collusion would destroy the value. It wouldn’t be overnight. Plenty of time to take their profits and go do something else.