CryptAxe [ARCHIVE] on Nostr: 📅 Original date posted:2017-10-10 📝 Original message:You could technically call ...
📅 Original date posted:2017-10-10
📝 Original message:You could technically call myself and Chris 'core developers'. You don't
get to have a fixed rate of Bitcoin and a second way to mint coins at the
same time.
On Oct 10, 2017 1:46 PM, "Tao Effect via bitcoin-dev" <
bitcoin-dev at lists.linuxfoundation.org> wrote:
> What?
>
> That is not correct.
>
> There is a fixed amount of Bitcoin, as I said.
>
> The only difference is what chain it is on.
>
> It is precisely because there is a fixed amount that when you
> burn-to-withdraw you mint on another chain.
>
> I will not respond to any more emails unless they’re from core developers.
> Gotta run.
>
> --
> Sent from my mobile device.
> Please do not email me anything that you are not comfortable also sharing
> with the NSA.
>
> > On Oct 10, 2017, at 1:23 PM, James Hudon <jameshudon at gmail.com> wrote:
> >
> > You're asking for newly minted bitcoin to go to you but you burned the
> bitcoin used in the peg. You're effectively losing your money and then
> stealing from the miners to gain it back. The miners had to issue your
> amount of bitcoin 2 times (once for your original bitcoin, again to make
> you whole). Why would they agree to this?
> > --
> > hudon
> >
> >> On Oct 10, 2017, at 13:13, Tao Effect via bitcoin-dev <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
> >>
> >> It would not change the number of Bitcoins in existence.
> >>
> >> --
> >> Sent from my mobile device.
> >> Please do not email me anything that you are not comfortable also
> sharing with the NSA.
> >>
> >>> On Oct 10, 2017, at 12:50 PM, CryptAxe <cryptaxe at gmail.com> wrote:
> >>>
> >>> Your method would change the number of Bitcoins in existence. Why?
> >>>
> >>> On Oct 10, 2017 12:47 PM, "Tao Effect via bitcoin-dev" <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
> >>> Is that what passes for a technical argument these days? Sheesh.
> >>>
> >>> Whereas in Drivechain users are forced to give up their coins to a
> single group for whatever sidechains they interact with, the generic
> sharding algo lets them (1) keep their coins, (2) trust whatever group they
> want to trust (the miners of the various sidechains).
> >>>
> >>> Drivechain offers objectively worse security.
> >>>
> >>> --
> >>> Sent from my mobile device.
> >>> Please do not email me anything that you are not comfortable also
> sharing with the NSA.
> >>>
> >>>> On Oct 10, 2017, at 8:09 AM, Paul Sztorc via bitcoin-dev <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
> >>>>
> >>>> I think this response speaks for itself.
> >>>>
> >>>>> On 10/10/2017 10:09 AM, Tao Effect wrote:
> >>>>> Hi Paul,
> >>>>>
> >>>>> I thought it was clear, but apparently you are getting stuck on the
> semantics of the word "burn".
> >>>>>
> >>>>> The "burning" applies to the original coins you had.
> >>>>>
> >>>>> When you transfer them back, you get newly minted coins, equivalent
> to the amount you "burned" on the chain you're transferring from ― as
> stated in the OP.
> >>>>>
> >>>>> If you don't like the word "burn", pick another one.
> >>>>>
> >>>>> --
> >>>>> Please do not email me anything that you are not comfortable also
> sharing with the NSA.
> >>>>>
> >>>>>> On Oct 10, 2017, at 4:20 AM, Paul Sztorc <truthcoin at gmail.com>
> wrote:
> >>>>>>
> >>>>>> Haha, no. Because you "burned" the coins.
> >>>>>>
> >>>>>> On Oct 10, 2017 1:20 AM, "Tao Effect" <contact at taoeffect.com>
> wrote:
> >>>>>> Paul,
> >>>>>>
> >>>>>> It's a two-way peg.
> >>>>>>
> >>>>>> There's nothing preventing transfers back to the main chain.
> >>>>>>
> >>>>>> They work in the exact same manner.
> >>>>>>
> >>>>>> Cheers,
> >>>>>> Greg
> >>>>>>
> >>>>>> --
> >>>>>> Please do not email me anything that you are not comfortable also
> sharing with the NSA.
> >>>>>>
> >>>>>>> On Oct 9, 2017, at 6:39 PM, Paul Sztorc <truthcoin at gmail.com>
> wrote:
> >>>>>>>
> >>>>>>> That is only a one-way peg, not a two-way.
> >>>>>>>
> >>>>>>> In fact, that is exactly what drivechain does, if one chooses
> parameters for the drivechain that make it impossible for any side-to-main
> transfer to succeed.
> >>>>>>>
> >>>>>>> One-way pegs have strong first-mover disadvantages.
> >>>>>>>
> >>>>>>> Paul
> >>>>>>>
> >>>>>>> On Oct 9, 2017 9:24 PM, "Tao Effect via bitcoin-dev" <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
> >>>>>>> Dear list,
> >>>>>>>
> >>>>>>> In previous arguments over Drivechain (and Drivechain-like
> proposals) I promised that better scaling proposals ― that do not sacrifice
> Bitcoin's security ― would come along.
> >>>>>>>
> >>>>>>> I planned to do a detailed writeup, but have decided to just send
> off this email with what I have, because I'm unlikely to have time to write
> up a detailed proposal.
> >>>>>>>
> >>>>>>> The idea is very simple (and by no means novel*), and I'm sure
> others have mentioned either exactly it, or similar ideas (e.g. burning
> coins) before.
> >>>>>>>
> >>>>>>> This is a generic sharding protocol for all blockchains, including
> Bitcoin.
> >>>>>>>
> >>>>>>> Users simply say: "My coins on Chain A are going to be sent to
> Chain B".
> >>>>>>>
> >>>>>>> Then they burn the coins on Chain A, and create a minting
> transaction on Chain B. The details of how to ensure that coins do not get
> lost needs to be worked out, but I'm fairly certain the folks on this list
> can figure out those details.
> >>>>>>>
> >>>>>>> - Thin clients, nodes, and miners, can all very easily verify that
> said action took place, and therefore accept the "newly minted" coins on B
> as valid.
> >>>>>>> - Users client software now also knows where to look for the other
> coins (if for some reason it needs to).
> >>>>>>>
> >>>>>>> This doesn't even need much modification to the Bitcoin protocol
> as most of the verification is done client-side.
> >>>>>>>
> >>>>>>> It is fully decentralized, and there's no need to give our
> ownership of our coins to miners to get scale.
> >>>>>>>
> >>>>>>> My sincere apologies if this has been brought up before (in which
> case, I would be very grateful for a link to the proposal).
> >>>>>>>
> >>>>>>> Cheers,
> >>>>>>> Greg Slepak
> >>>>>>>
> >>>>>>> * This idea is similar in spirit to Interledger.
> >>>>>>>
> >>>>>>> --
> >>>>>>> Please do not email me anything that you are not comfortable also
> sharing with the NSA.
> >>>>>>>
> >>>>>>>
> >>>>>>> _______________________________________________
> >>>>>>> bitcoin-dev mailing list
> >>>>>>> bitcoin-dev at lists.linuxfoundation.org
> >>>>>>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
> >>>>>>>
> >>>>>>>
> >>>>>>
> >>>>>
> >>>>
> >>>> _______________________________________________
> >>>> bitcoin-dev mailing list
> >>>> bitcoin-dev at lists.linuxfoundation.org
> >>>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
> >>>
> >>> _______________________________________________
> >>> bitcoin-dev mailing list
> >>> bitcoin-dev at lists.linuxfoundation.org
> >>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
> >>>
> >> _______________________________________________
> >> bitcoin-dev mailing list
> >> bitcoin-dev at lists.linuxfoundation.org
> >> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
> >
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
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📝 Original message:You could technically call myself and Chris 'core developers'. You don't
get to have a fixed rate of Bitcoin and a second way to mint coins at the
same time.
On Oct 10, 2017 1:46 PM, "Tao Effect via bitcoin-dev" <
bitcoin-dev at lists.linuxfoundation.org> wrote:
> What?
>
> That is not correct.
>
> There is a fixed amount of Bitcoin, as I said.
>
> The only difference is what chain it is on.
>
> It is precisely because there is a fixed amount that when you
> burn-to-withdraw you mint on another chain.
>
> I will not respond to any more emails unless they’re from core developers.
> Gotta run.
>
> --
> Sent from my mobile device.
> Please do not email me anything that you are not comfortable also sharing
> with the NSA.
>
> > On Oct 10, 2017, at 1:23 PM, James Hudon <jameshudon at gmail.com> wrote:
> >
> > You're asking for newly minted bitcoin to go to you but you burned the
> bitcoin used in the peg. You're effectively losing your money and then
> stealing from the miners to gain it back. The miners had to issue your
> amount of bitcoin 2 times (once for your original bitcoin, again to make
> you whole). Why would they agree to this?
> > --
> > hudon
> >
> >> On Oct 10, 2017, at 13:13, Tao Effect via bitcoin-dev <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
> >>
> >> It would not change the number of Bitcoins in existence.
> >>
> >> --
> >> Sent from my mobile device.
> >> Please do not email me anything that you are not comfortable also
> sharing with the NSA.
> >>
> >>> On Oct 10, 2017, at 12:50 PM, CryptAxe <cryptaxe at gmail.com> wrote:
> >>>
> >>> Your method would change the number of Bitcoins in existence. Why?
> >>>
> >>> On Oct 10, 2017 12:47 PM, "Tao Effect via bitcoin-dev" <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
> >>> Is that what passes for a technical argument these days? Sheesh.
> >>>
> >>> Whereas in Drivechain users are forced to give up their coins to a
> single group for whatever sidechains they interact with, the generic
> sharding algo lets them (1) keep their coins, (2) trust whatever group they
> want to trust (the miners of the various sidechains).
> >>>
> >>> Drivechain offers objectively worse security.
> >>>
> >>> --
> >>> Sent from my mobile device.
> >>> Please do not email me anything that you are not comfortable also
> sharing with the NSA.
> >>>
> >>>> On Oct 10, 2017, at 8:09 AM, Paul Sztorc via bitcoin-dev <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
> >>>>
> >>>> I think this response speaks for itself.
> >>>>
> >>>>> On 10/10/2017 10:09 AM, Tao Effect wrote:
> >>>>> Hi Paul,
> >>>>>
> >>>>> I thought it was clear, but apparently you are getting stuck on the
> semantics of the word "burn".
> >>>>>
> >>>>> The "burning" applies to the original coins you had.
> >>>>>
> >>>>> When you transfer them back, you get newly minted coins, equivalent
> to the amount you "burned" on the chain you're transferring from ― as
> stated in the OP.
> >>>>>
> >>>>> If you don't like the word "burn", pick another one.
> >>>>>
> >>>>> --
> >>>>> Please do not email me anything that you are not comfortable also
> sharing with the NSA.
> >>>>>
> >>>>>> On Oct 10, 2017, at 4:20 AM, Paul Sztorc <truthcoin at gmail.com>
> wrote:
> >>>>>>
> >>>>>> Haha, no. Because you "burned" the coins.
> >>>>>>
> >>>>>> On Oct 10, 2017 1:20 AM, "Tao Effect" <contact at taoeffect.com>
> wrote:
> >>>>>> Paul,
> >>>>>>
> >>>>>> It's a two-way peg.
> >>>>>>
> >>>>>> There's nothing preventing transfers back to the main chain.
> >>>>>>
> >>>>>> They work in the exact same manner.
> >>>>>>
> >>>>>> Cheers,
> >>>>>> Greg
> >>>>>>
> >>>>>> --
> >>>>>> Please do not email me anything that you are not comfortable also
> sharing with the NSA.
> >>>>>>
> >>>>>>> On Oct 9, 2017, at 6:39 PM, Paul Sztorc <truthcoin at gmail.com>
> wrote:
> >>>>>>>
> >>>>>>> That is only a one-way peg, not a two-way.
> >>>>>>>
> >>>>>>> In fact, that is exactly what drivechain does, if one chooses
> parameters for the drivechain that make it impossible for any side-to-main
> transfer to succeed.
> >>>>>>>
> >>>>>>> One-way pegs have strong first-mover disadvantages.
> >>>>>>>
> >>>>>>> Paul
> >>>>>>>
> >>>>>>> On Oct 9, 2017 9:24 PM, "Tao Effect via bitcoin-dev" <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
> >>>>>>> Dear list,
> >>>>>>>
> >>>>>>> In previous arguments over Drivechain (and Drivechain-like
> proposals) I promised that better scaling proposals ― that do not sacrifice
> Bitcoin's security ― would come along.
> >>>>>>>
> >>>>>>> I planned to do a detailed writeup, but have decided to just send
> off this email with what I have, because I'm unlikely to have time to write
> up a detailed proposal.
> >>>>>>>
> >>>>>>> The idea is very simple (and by no means novel*), and I'm sure
> others have mentioned either exactly it, or similar ideas (e.g. burning
> coins) before.
> >>>>>>>
> >>>>>>> This is a generic sharding protocol for all blockchains, including
> Bitcoin.
> >>>>>>>
> >>>>>>> Users simply say: "My coins on Chain A are going to be sent to
> Chain B".
> >>>>>>>
> >>>>>>> Then they burn the coins on Chain A, and create a minting
> transaction on Chain B. The details of how to ensure that coins do not get
> lost needs to be worked out, but I'm fairly certain the folks on this list
> can figure out those details.
> >>>>>>>
> >>>>>>> - Thin clients, nodes, and miners, can all very easily verify that
> said action took place, and therefore accept the "newly minted" coins on B
> as valid.
> >>>>>>> - Users client software now also knows where to look for the other
> coins (if for some reason it needs to).
> >>>>>>>
> >>>>>>> This doesn't even need much modification to the Bitcoin protocol
> as most of the verification is done client-side.
> >>>>>>>
> >>>>>>> It is fully decentralized, and there's no need to give our
> ownership of our coins to miners to get scale.
> >>>>>>>
> >>>>>>> My sincere apologies if this has been brought up before (in which
> case, I would be very grateful for a link to the proposal).
> >>>>>>>
> >>>>>>> Cheers,
> >>>>>>> Greg Slepak
> >>>>>>>
> >>>>>>> * This idea is similar in spirit to Interledger.
> >>>>>>>
> >>>>>>> --
> >>>>>>> Please do not email me anything that you are not comfortable also
> sharing with the NSA.
> >>>>>>>
> >>>>>>>
> >>>>>>> _______________________________________________
> >>>>>>> bitcoin-dev mailing list
> >>>>>>> bitcoin-dev at lists.linuxfoundation.org
> >>>>>>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
> >>>>>>>
> >>>>>>>
> >>>>>>
> >>>>>
> >>>>
> >>>> _______________________________________________
> >>>> bitcoin-dev mailing list
> >>>> bitcoin-dev at lists.linuxfoundation.org
> >>>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
> >>>
> >>> _______________________________________________
> >>> bitcoin-dev mailing list
> >>> bitcoin-dev at lists.linuxfoundation.org
> >>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
> >>>
> >> _______________________________________________
> >> bitcoin-dev mailing list
> >> bitcoin-dev at lists.linuxfoundation.org
> >> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
> >
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
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