Author: Paul Sztorc 2017-06-19 16:04:33
Published on: 2017-06-19T16:04:33+00:00
In this email conversation, Tao Effect raises concerns about Drivechain and the potential for miners to have "total control" over sidechain coins. The response from Paul Sztorc clarifies that miners do not have "total" control but rather only control the destination of withdrawals. He goes on to explain how theft from a sidechain is discouraged by using popular sidechains, increasing the usefulness of bitcoin, and generating transaction fees for miners. Sztorc argues that before a miner has any "control" over the sidechain coins, users must voluntarily agree to subject themselves to these new rules. He also notes that money could be confiscated from any Bitcoin user, not just those using Drivechain, and it is not up to members of the list to decide what other people are allowed to do with their own money. The conversation then turns to the issue of centralization, with Tao Effect suggesting that Drivechain would centralize power in the hands of miners. Sztorc challenges this argument, arguing that the definition of centralization needs to be more clearly defined and that BMM (Blind Merged Mining) addresses centralization among miners. He emphasizes that groups of people are free to ignore any sidechains they do not like and argues that current options are more limited without sidechains.
Updated on: 2023-06-12T02:13:01.201937+00:00