Joda on Nostr: "Any future FAANG type corporation or bank is going to be making orders of magnitude ...
"Any future FAANG type corporation or bank is going to be making orders of magnitude more revenue than all Bitcoin miners who are working on tiny margins. So if Mark Zuckerberg get his sidechain and then wants to make sure that Elon never gets a sidechain, all he has to do is take a fraction of his budget and go buy out a small mining company, enough to get a 10–12% veto share. Now anybody who wants a sidechain has to make their case that the sidechain is going to be beneficial to Mark Zuckerberg, who can reject it at will, or demand concessions.
Miners have never had this sort of voting power before, but Drivechain will give them explicit power as gatekeepers."
This is scary AF
Published at
2024-03-19 14:33:22Event JSON
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"content": "\"Any future FAANG type corporation or bank is going to be making orders of magnitude more revenue than all Bitcoin miners who are working on tiny margins. So if Mark Zuckerberg get his sidechain and then wants to make sure that Elon never gets a sidechain, all he has to do is take a fraction of his budget and go buy out a small mining company, enough to get a 10–12% veto share. Now anybody who wants a sidechain has to make their case that the sidechain is going to be beneficial to Mark Zuckerberg, who can reject it at will, or demand concessions.\n\nMiners have never had this sort of voting power before, but Drivechain will give them explicit power as gatekeepers.\"\n\nThis is scary AF",
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