Follow

Hi everyone. I'm new to bitcoin maximalism and I'm not a programmer so please be kind. My main question for now is whether the functionality of networks with more flexible scripting (such as ETH) will eventually be available on bitcoin through sidechains or some other form of interoperability. Bitcoin-based CryptoKitties is a frivolous but telling example. If this and everything else envisioned for other networks could be enabled on Bitcoin, this seems like a powerful case for maximalism.

@stevedunn73 Yes! There are several projects for general computing, but with the added benefit that computation is pushed outside the network. Check out RSK as an example.

@stevedunn73 with segwit versioning a much more expressive scripting language (potentially, but not advisable, even turing complete) can be introduced with a soft fork, but such a change could happen only a very extensive peer review, so not anytime soon

@stevedunn73 ETH's on-chain transactions are fundamentally wasteful. Any code that reads something like: "if X is true, do A, otherwise do B" on ETH requires evaluating X, then doing the correct branch. Bitcoin moves computation to the nodes, so it doesn't have to be sequential. You can instead have a GPU evaluate X at the same time as it processes both A & B.

@stevedunn73 I'm not sure this game is resolved by functionalities, i.e. software properties. Bitcoin is first and foremost a social network attaching value to something permanent, scarce, and censorship free.

That being said I'm not aware of any limits to features that sidechains could offer. What sidechains will grow, is another Q. There are some with scripting focus.

The 1st layer has also developed, but with caution. Complex smart contracts seem not to work on Ethereum.

@lawyercrypto I firmly believe bitcoin carries the day as money. My question is meant to determine whether other crypto currencies will exist at all. I can see lots of use cases for DAOs. If bitcoin can serve as the currency for all of them, I’m an unreserved maximalist! But if there is some technical limitation on bitcoins ability to fill these roles, I’d have to allow that at least one other network could thrive.

@stevedunn73 @lawyercrypto might I tell you that we really don’t know the full capabilities of Bitcoin yet. But it is immense. There are thousands of developers, scientist, and hackers working on some aspect of the code or building out infrastructure. You don’t hear about most like with ETH and other shitcoins. First and foremost is security. Not social. My node cares not what you think. It runs the code I choose. But let’s not focus on limitations that we are imposing.

@stevedunn73 @lawyercrypto We really don’t know how far or the ceiling of what can be done. But many are working on it day and night. For every one thing you hear. There is 10 things you will never hear because it’s being done in a different country or language. Bitcoin is really bigger than you think it is. It’s global. Stick around a few years and you’ll see that.

Sign in to participate in the conversation
Bitcoin Mastodon

Bitcoin Maston Instance