Author: Thomas Hartman 2020-09-02 14:40:28
Published on: 2020-09-02T14:40:28+00:00
In a reply to David Harding's message on the Bitcoin-dev mailing list, Thomas Hartman expresses his admiration for Powswap, a platform that allows users to bet on the future hash rate of the Bitcoin network without requiring any protocol changes. However, he raises concerns about the need for watchtowers to prevent the loser of a bet from sweeping funds if the winner is not vigilant. He also wonders how trades happening in lightning channels would be affected by this race. Hartman then poses a question about Powswap's functionality. He wants to know if it is possible to bet on hashrate slices in the future. Currently, Powswap only creates contracts from current time to future time. But Hartman suggests that synthetic hashrate binaries can be created for a time span in the future using Powswap by subtracting the time from the current time to B from the time from the current time to A. In other words, one can buy first and sell second. Finally, Hartman asks if it is currently possible to bet on the first six blocks after retarget being found under an hour and the new difficulty exceeding a certain threshold.
Updated on: 2023-06-14T15:11:44.844270+00:00