I don't get it. At the moment, the number of Bitcoin is fixed (at 21
million) by the geometric decay of the block reward.
Adding any other means of creating coins besides the existing block reward,
or altering the block reward schedule, is extremely likely to be seen as
messing with fixed supply.
You could technically call myself and Chris 'core developers'. You don't
get to have a fixed rate of Bitcoin and a second way to mint coins at the
same time.
On Oct 10, 2017 1:46 PM, "Tao Effect via bitcoin-dev" <
bitcoin-dev@lists.linuxfoundation.org> wrote:
> What?
>
> That is not correct.
>
>
You're asking for newly minted bitcoin to go to you but you burned the bitcoin
used in the peg. You're effectively losing your money and then stealing from
the miners to gain it back. The miners had to issue your amount of bitcoin 2
times (once for your original bitcoin, again to make you
What?
That is not correct.
There is a fixed amount of Bitcoin, as I said.
The only difference is what chain it is on.
It is precisely because there is a fixed amount that when you burn-to-withdraw
you mint on another chain.
I will not respond to any more emails unless they’re from core
What if two sidechains are implemented at once? What if people get excited
about one sidechain today, but a second even-better one is published the
very next week? What if the original mainchain decides to integrate the
features of the sidechain that you just one-way pegged to?
In these cases,
Your method would change the number of Bitcoins in existence. Why?
On Oct 10, 2017 12:47 PM, "Tao Effect via bitcoin-dev" <
bitcoin-dev@lists.linuxfoundation.org> wrote:
> Is that what passes for a technical argument these days? Sheesh.
>
> Whereas in Drivechain users are forced to give up their
Is that what passes for a technical argument these days? Sheesh.
Whereas in Drivechain users are forced to give up their coins to a single group
for whatever sidechains they interact with, the generic sharding algo lets them
(1) keep their coins, (2) trust whatever group they want to trust (the
I think this response speaks for itself.
On 10/10/2017 10:09 AM, Tao Effect wrote:
> Hi Paul,
>
> I thought it was clear, but apparently you are getting stuck on the
> semantics of the word "burn".
>
> The "burning" applies to the original coins you had.
>
> When you transfer them back, you get
Hi Paul,
I thought it was clear, but apparently you are getting stuck on the semantics
of the word "burn".
The "burning" applies to the original coins you had.
When you transfer them back, you get newly minted coins, equivalent to the
amount you "burned" on the chain you're transferring from
Paul,
It's a two-way peg.
There's nothing preventing transfers back to the main chain.
They work in the exact same manner.
Cheers,
Greg
--
Please do not email me anything that you are not comfortable also sharing with
the NSA.
> On Oct 9, 2017, at 6:39 PM, Paul Sztorc
Haha, no. Because you "burned" the coins.
On Oct 10, 2017 1:20 AM, "Tao Effect" wrote:
> Paul,
>
> It's a two-way peg.
>
> There's nothing preventing transfers back to the main chain.
>
> They work in the exact same manner.
>
> Cheers,
> Greg
>
> --
> Please do not email
That is only a one-way peg, not a two-way.
In fact, that is exactly what drivechain does, if one chooses parameters
for the drivechain that make it impossible for any side-to-main transfer to
succeed.
One-way pegs have strong first-mover disadvantages.
Paul
On Oct 9, 2017 9:24 PM, "Tao Effect
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