Considering you’ve been in Bitcoin community since inception, I’m wondering you feel your outlook has changed (from payment -> settlement network) or if you thought that Bitcoin was always destined for settlement network (instead of layer 1 payment network)?
Crucial point. "Digital cash" was dreamed up by academic cryptographers long before Bitcoin. It was a privacy-enhanced way to pay in dollars or euro, not a new currency. Many in crypto academia still don't get the idea of an independent currency & its very different requirements.https://twitter.com/waxwing__/status/1012221025503891456 …
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My bit gold design in 1998 was 2-layer: bit gold for settlement, Chaumian e-cash for a privacy-enhanced payments layer. I've always thought of Bitcoin as evolving into a settlements-and-large-payments layer that in the long term needed a layer 2 for consumer payments.
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Thank you for the info, and I think it’s a reasonable standpoint if you agree that BTC needs to be maximally decentralized. My current favorite solution is BTC as a secure, store of value layer while atomic swapping to BCH for payments.
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BCH doesn't have atomic swaps.
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sure it does.
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got a link?
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https://www.reddit.com/r/btc/comments/7juc9i/first_of_many_bch_kmd_atomic_swap_via_barterdex/ … BCH has a much more permission scripting language than BTC due a much larger amounts of OP_CODES enabled by default, as well much larger OP_RETURN allowance. This hostility by core devs forced
#ETH to move away from#BTC and to start a new chain.
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With “blockchain analysis” tools ramping up, privacy is becoming completely subverted. “Immutable transparency” cannot be good. I’m curious to get your thoughts on whether privacy should occur on the settlement chain (e.g. Monero) or as a layer 2 solution (e.g. MW/grin)?
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Hopefully both.
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maybe dollars, but if digital cash was mentioned before 2000 there were no euros
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I couldn't fit all the currencies the euro replaced in a tweet. :-)
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not really 'replaced' but temporarily pegged and often trying to unpeg themselves and be free again
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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