Drivechains
Alright people, we are playing a game of chess here. The one thing, the absolute one thing, we can't do is give up the king. To give up the king, in my humble opinion, is to mess up the b...
Drive chain attack vector
1. Bitcoin implements drive chains
2. Governments issue CBDCs. They are full Orwellian dystopia, ban cash.
3. Someone starts a stable coin on a drive chain that locks up CBDC and issues privacy focused stable coin with proof or reserves, all the best features.
4. Everyone prefers the privacy drive chain money over the CBDC, becomes main usecase for CBDC.
5. Drive chain grows 100 times larger than Bitcoin in terms of transaction fees for miners.
6. Government threatens to freeze locked up CBDC if Bitcoin miners don't sensor wallets that have been identified as belonging to some undesirable entity.
7. A series of hard forks occur when wallets are forked out. First minor uncontroversial issues but once a precedent is set government requests more frequent censorship for more minor issues. Forks that don't censor transactions find themselves with a minority of the hash rate. Uncensored Bitcoin suffers 51% attacks from government controled miners. Uncensored Bitcoin forks enter death spiral.
1. Bitcoin implements drive chains
2. Governments issue CBDCs. They are full Orwellian dystopia, ban cash.
3. Someone starts a stable coin on a drive chain that locks up CBDC and issues privacy focused stable coin with proof or reserves, all the best features.
4. Everyone prefers the privacy drive chain money over the CBDC, becomes main usecase for CBDC.
5. Drive chain grows 100 times larger than Bitcoin in terms of transaction fees for miners.
6. Government threatens to freeze locked up CBDC if Bitcoin miners don't sensor wallets that have been identified as belonging to some undesirable entity.
7. A series of hard forks occur when wallets are forked out. First minor uncontroversial issues but once a precedent is set government requests more frequent censorship for more minor issues. Forks that don't censor transactions find themselves with a minority of the hash rate. Uncensored Bitcoin suffers 51% attacks from government controled miners. Uncensored Bitcoin forks enter death spiral.
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