Damus
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Nuh · 1w
Who cares? If RBTC is worth 80k or 50 cents, the name system works just the same. And if the system is designed well, it should work mostly offchain anyways. But even for use cases that requires long...
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inkan @inkan
If RBTC traded at 50 cents while Bitcoin is at 80k, this would presumably mean that people think there's something seriously wrong with the bridge. The value of RBTC just seems to reflect people's view of the integrity of the pegging mechanism and the trustworthiness of the pegnatories. By contrast, the value of Bitcoin or Ethereum reflects people's view of the security, usefulness and future of the chain itself. It feels like, in the case of Bitcoin and Ethereum there's more overlap between those who are defending these chains and those who have their economic interests bound up in them, and there's less of a single point of failure, but I guess I'll need to look into this more. Also it's of course perfectly fair to predict that things will get better in the future with BitVM, but the prediction doesn't substitute for what it presently is.
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Nuh · 1w
No. Miners only merge mine Rootstock because they are getting paid more than the marginal cost of the merge mining. This will always be the case, whether the bridge is secure or not. The bridge security only directly matters to the long term holders of RBTC which indirectly affects demand of Rootsto...
Technical Debt · 1w
Merge mining also isn’t a new concept nor is it tied specifically to sidechains. Many altcoins and shitcoins get a huge hashrate from merge mining because it is literally extra, free money for the same effort, it doesn’t really matter what the actual market value of the merged coin is.