SeekerErebus on Nostr: Imagine if the tokens on an altcoin project were issued only by a direct connection ...
Imagine if the tokens on an altcoin project were issued only by a direct connection to a provably unspendable bitcoin transaction with a permanently fixed ratio. Literally deleting that btc forever, and then creating the token on the alternative. Bitcoin Transmutation.
Such an altcoin wouldn't violate the digital scarcity of bitcoin because of this. It would also act as strong proof that these new token holders really believe the project is a worthy goal, since if they're wrong, they're broke. In many ways, it would be a far more ethical way to make a hard-fork to bitcoin than actually making a hard-fork.
What would you think about a project that did this?
Normally I just dismiss all altcoin projects, but learning about GhostDAG and studying UTXO scarcity for myself, I'm thinking that bitcoin might have it's own 'adapt or die' problem we are not taking seriously enough.
Such an altcoin wouldn't violate the digital scarcity of bitcoin because of this. It would also act as strong proof that these new token holders really believe the project is a worthy goal, since if they're wrong, they're broke. In many ways, it would be a far more ethical way to make a hard-fork to bitcoin than actually making a hard-fork.
What would you think about a project that did this?
Normally I just dismiss all altcoin projects, but learning about GhostDAG and studying UTXO scarcity for myself, I'm thinking that bitcoin might have it's own 'adapt or die' problem we are not taking seriously enough.