It’s important to have a futures market with any contentious fork in Bitcoin.
Why?
Because the party forking gets what is called the “free call option”.
They can tweet, do long monologue vide...
Here is a summary of the on chain futures contract:
For anyone who thinks BIP 444 will activate, I will happily offer you an ability to make more bitcoin.
We each deposit 1 BTC into a taproot address with two spending conditions:
1. Time locked so that you can withdraw June 1st next year at a depth of 1 in the tap tree.
2. Time locked so I can withdraw May 1st next year at a depth of 128 in the tap tree.
If BIP444 activates, you get 2 BTC out of the address (because my spend path would be consensus invalid).
If BIP444 does not activate, I get 2BTC out of the address.
DMs are open, we can use a dedicated escrow agent as third key if necessary, would obviously provide auditable code to show there are no tricks.
We can also atomically fund the transaction using a multi input transaction into this taproot address to guarantee all parties fund the address.
For anyone who thinks BIP 444 will activate, I will happily offer you an ability to make more bitcoin.
We each deposit 1 BTC into a taproot address with two spending conditions:
1. Time locked so that you can withdraw June 1st next year at a depth of 1 in the tap tree.
2. Time locked so I can withdraw May 1st next year at a depth of 128 in the tap tree.
If BIP444 activates, you get 2 BTC out of the address (because my spend path would be consensus invalid).
If BIP444 does not activate, I get 2BTC out of the address.
DMs are open, we can use a dedicated escrow agent as third key if necessary, would obviously provide auditable code to show there are no tricks.
We can also atomically fund the transaction using a multi input transaction into this taproot address to guarantee all parties fund the address.
3❤️3👀1🤙1
