The place we failed as Bitcoiners is merchant adoption. I cannot even describe how bad it is, I have all these fancy non-custodial wallets I use and I even contribute to one but I can't use them to spend anywhere because nobody wants/accepts Bitcoin.
It takes 13150 "yes" votes from miners within 26300 blocks for a drivechain withdrawal to succeed. 6576 "no" votes can block any drivechain withdrawal. That means if you have 25% + 1 block saying "no", you can block any withdrawal. There are currently 2 pools with >25% of hash ..
@EAnalyzed@TheDesertLynx@fiatjaf If outcome 2 happens, it's no longer #Bitcoin. It would become a weird amalgamation of base chain and mostly custodial transactions.
In fact, an argument could be made that today's Bitcoin is not really Bitcoin.. most of it kyc'd and on exchanges. But this is fixable.
@EAnalyzed@TheDesertLynx@fiatjaf I agree. I used to buy into the vertical scaling solution for mass adoption, but:
1. I think it probably won't happen
2. If it does (still totally possible), I don't think it will happen without massive tradeoffs, and we may return to square 1 (custody, trust, surveillance).
@DontTraceMeBruh 2/x In other words, if you are the operator of @LocalMoneroCo, or if your contribution has a significant influence on the @bisq_network, the EU will ask you to comply with their measures, if EBA follows FATF recommendations (which they want to).
So.. the account @monero_market with an actual website (https://t.co/6gdiNXA2Hy) has less than 600 followers,
while @Monerodotmarket has 4000 followers, yet no functioning website?