Damus
j · 1w
Read BIP300
weev profile picture
Do I need to repeat myself?

> Seems like a security disaster, ripe for a multitude of race conditions and consensus attacks on supply, state, and immutability, architecturally completely an autistic dream that is not possible to soundly implement.

I don’t think we should change the entire transaction validation mechanism to add excessive complexity.

Shouldn’t HTLCs accommodate these additional L2s? I don’t understand why, if you want a chain with alternative features and functions, you can’t just use HTLCs like Lightning does. Lightning already does about a billion dollars worth of transactions monthly, seems like the concept of using HTLCs to interface with an additional layer is pretty proven. It seems the necessary interface is already there. I guess I am just too stupid to understand.

BIP300 is one of those “ideas guy” moments where something very bold is proposed without a lot of mind put towards the implementation being completely nightmarish.
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goatmeal · 1w
I think HTLCs work for payment channels but not UTXO sharing. Peter Todd wrote an essay about this somewhere. the lightning idea goes in the payment channels category and the sidechain and statechain ideas go in the UTXO sharing category
j · 1w
You don't need to repeat yourself but it's clear you missed the point. The change to bitcoin is intentionally minimal amd all the possible security problems are pushed to the side chains. If the side chain you kept your coins on has an inflation bug that's your problem, the mainchain will only rede...
goatmeal · 1w
we got a primitive that lets one user reuse a UTXO many times. okay cool. I don't appreciate the rube goldberg scaffolding that evolved around HTLCs but it does free up some room I guess. it doesn't scale users. it still requires each user to have their own UTXO. this is the foundation of most of th...