timechainman on Nostr: The English version of what Legosi says in this thread: Hyperbitcoinization is a ...
The English version of what Legosi (nprofile…gvy7) says in this thread:
Hyperbitcoinization is a process rather than a singular event. Today, we are initiating this process through institutional and governmental adoption.
Rootstock is not the same as other Bitcoin scalability solutions, and the scalability issue in Bitcoin is a crucial factor that will determine its global adoption.
If we aim for Bitcoin to reach as many plebs as possible, these solutions must be on every bitcoiner’s radar—at least until a BIP invalidates their usefulness.
Rootstock uses merged mining, and currently, 80% of Bitcoin miners also mine Rootstock (Foundry and SpiderPool being the most recent additions).
A sensitive point is its two-way peg bridge, which, truth be told, is currently far more advanced than other solutions. Unlike Liquid’s static federation, Rootstock operates with a dynamic federation. BitVMX (Union Bridge) is in the works, aiming to offer an improved gateway service using ZKP technology.
Rootstock does not have a native token, unlike other solutions like Mezon or Stacks, which makes a significant difference. These architectures compete with Bitcoin’s market capitalization by issuing their own tokens. In contrast, every BTC on the Rootstock network (RBTC) is used to pay miners for their services, aligning with Bitcoin’s ethos and natural incentive architecture.
⸻
On Stablecoins
This is a deep topic that should be addressed step by step. The solution that @timechainman refers to is truly a solution.
Sovryn (npub1s7u…fwc4) has created DLLR through BTC-collateralized loans, much like the “Free Banking System” proposes (tell me something more Austrian than that).
A system that provides a primary market for BTC <> Stable conversions through a decentralized interface and free market competition becomes a real contender.
Another feature of this asset is that it is soft-pegged, meaning it is arbitrageable by the market itself. This means that if the U.S. government were to devalue its currency and all real economy products increased in price, DLLR could float and would not suffer from the devaluation of your unit of account as with other alternatives.
Every point mentioned here can become an attack vector when dealing with these monopolistic giants of “legitimate” physical coercion (Weber). We must approach solutions with an open mind and critically assess what the market is adopting today.
Sovryn (npub1s7u…fwc4) has done—and continues to do—work that many bitcoiners have abandoned: building solutions on Bitcoin.
Hyperbitcoinization is a process rather than a singular event. Today, we are initiating this process through institutional and governmental adoption.
Rootstock is not the same as other Bitcoin scalability solutions, and the scalability issue in Bitcoin is a crucial factor that will determine its global adoption.
If we aim for Bitcoin to reach as many plebs as possible, these solutions must be on every bitcoiner’s radar—at least until a BIP invalidates their usefulness.
Rootstock uses merged mining, and currently, 80% of Bitcoin miners also mine Rootstock (Foundry and SpiderPool being the most recent additions).
A sensitive point is its two-way peg bridge, which, truth be told, is currently far more advanced than other solutions. Unlike Liquid’s static federation, Rootstock operates with a dynamic federation. BitVMX (Union Bridge) is in the works, aiming to offer an improved gateway service using ZKP technology.
Rootstock does not have a native token, unlike other solutions like Mezon or Stacks, which makes a significant difference. These architectures compete with Bitcoin’s market capitalization by issuing their own tokens. In contrast, every BTC on the Rootstock network (RBTC) is used to pay miners for their services, aligning with Bitcoin’s ethos and natural incentive architecture.
⸻
On Stablecoins
This is a deep topic that should be addressed step by step. The solution that @timechainman refers to is truly a solution.
Sovryn (npub1s7u…fwc4) has created DLLR through BTC-collateralized loans, much like the “Free Banking System” proposes (tell me something more Austrian than that).
A system that provides a primary market for BTC <> Stable conversions through a decentralized interface and free market competition becomes a real contender.
Another feature of this asset is that it is soft-pegged, meaning it is arbitrageable by the market itself. This means that if the U.S. government were to devalue its currency and all real economy products increased in price, DLLR could float and would not suffer from the devaluation of your unit of account as with other alternatives.
Every point mentioned here can become an attack vector when dealing with these monopolistic giants of “legitimate” physical coercion (Weber). We must approach solutions with an open mind and critically assess what the market is adopting today.
Sovryn (npub1s7u…fwc4) has done—and continues to do—work that many bitcoiners have abandoned: building solutions on Bitcoin.