Oddbean new post about login | logout Ecash is almost useless without a fast Bitcoin layer underneath
lol Ark is a protocol, not the investment thing. They have nothing to do with each other.
Well it was a terrible decision to name the protocol Ark when there is already an Ark in the space.
ok
Yeah how dare you @calle 👁️⚡👁️ 😂
yeah right?
Still confused as to why Ark the protocol is needed for ecash to succeed. From what I read Ark aims to scale bitcoin by batching UTXOs on an “Ark server”Currently Ecash uses lightning as the funding source. Lightning abstracts UTXOs. Wouldn’t Ark be competing with lightning as a layer 2 and as funding source for cashu mints? Or are you just suggesting that it helps scale bitcoin in tandem with lightning and ecash? Also Ark appears to be VC funded by Tim Draper (guy who funded Theranos and defended Elizabeth Holmes to the very end of her grift) I will give kudos for trying to scale bitcoin without making changes to the base layer but remain skeptical about VC funded projects and their true intentions
That’s not a good enough reply
ok
Isnt lightning the fast bitcoin layer?? Wouldn’t Ark require the Ark Service Providers (such a dumb protocol name) to have double the bitcoin being used in the protocol, as they essentially have to front the bitcoin in their round transactions before they gain users bitcoins get sent around? Ie, if I come in with one bitcoin, the ASP has to already have one bitcoin within their control for me to use their ASP and transfer money around. meaning that at the limit, ARK would require 42 million bitcoin…