stephanlivera (npub1r8l…x5dk)
Just listened to the recent podcast with Walt Smith.
Walt wants the ability to have DEX capabilities in bitcoin, like Uniswap. He mentioned trading Apple stock.
Why do these capabilities need to be built into the core protocol? Why not in a L2? This aspect wasn’t discussed. There was an implied assumption that it was L1 or nothing.
The problem with building shitcoin capabilities into the core protocol is that it encourages further mining centralization.
For example, if people could trade Apple stock on bitcoin, there would be an advantage to trade in advance of others. This would force hedge funds to cut more side deals with big miners and force other miners to centralize so as to not miss out on this extra revenue.
We are already seeing this unfold. OCEAN (npub1qtv…7dze) is struggling because they don’t go along with the spam. Miners don’t sign up because they lose out on revenue.
We shouldn’t encourage more mining centralization. People should shitcoin elsewhere. Bitcoin is money and our hope for the future.
techfeudalist /
npub1nz…0yxqu
2024-06-03 15:47:10
Author Public Key
npub1nz3cd3mx4jf9paxwrdgqvchaprjdge9pj9t58mkusw74q5saajkqu0yxquPublished at
2024-06-03 15:47:10Event JSON
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"content": "nostr:npub1r8l06leee9kjlam0slmky7h8j9zme9ca32erypgqtyu6t2gnhshs3jx5dk\n\nJust listened to the recent podcast with Walt Smith. \n\nWalt wants the ability to have DEX capabilities in bitcoin, like Uniswap. He mentioned trading Apple stock. \n\nWhy do these capabilities need to be built into the core protocol? Why not in a L2? This aspect wasn’t discussed. There was an implied assumption that it was L1 or nothing. \n\nThe problem with building shitcoin capabilities into the core protocol is that it encourages further mining centralization. \n\nFor example, if people could trade Apple stock on bitcoin, there would be an advantage to trade in advance of others. This would force hedge funds to cut more side deals with big miners and force other miners to centralize so as to not miss out on this extra revenue. \n\nWe are already seeing this unfold. nostr:npub1qtvl2em0llpnnllffhat8zltugwwz97x79gfmxfz4qk52n6zpk3qq87dze is struggling because they don’t go along with the spam. Miners don’t sign up because they lose out on revenue. \n\nWe shouldn’t encourage more mining centralization. People should shitcoin elsewhere. Bitcoin is money and our hope for the future.",
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}