Quote from: cypherdoc on October 27, 2014, 08:02:53 PM

Quote from: tvbcof on October 27, 2014, 07:55:52 PM

Quote from: cypherdoc on October 27, 2014, 07:31:43 PM

Who here has interpreted the SC paper to mean that you can get your BTC back from scBTC in the case of a SC failure?

I have as long as one is careful to choose a well implemented and managed sidechain and one stays on the ball.

I personally would put only the value on sidechains that I could afford to lose. This value would grow with time as the sidechains solution and the various implementations of it mature.

I would always only risk any value on a sidechain which could not fail in a way where someone else would end up with my BTC. A failure mode would have to result in a total loss else I am utterly un-interested in playing.

My calculations are indeed very close to how I play Bitcoin itself.

what specifically would have to happen to get you to move a significant number of your btc over to the sc?

Why the fuck would I do that? It makes no sense. The whole point is that one can keep their nest-egg in Bitcoin and use other solutions as needed for buying trinkets, tipping people, buying shit from 'licensed' entities, preserving financial privacy when needed, etc.

Bitcoin is to sidechains as Gold is to Bitcoin in my conception of the world. The fact that Bitcoin is still driving forward with 'good ideas' needed to achieve the goal of being everything to everyone is by far the biggest reason I don't risk more in using it as a value store. Sidechains could almost completely illuminate that deficiency in Bitcoin. And better yet it could do so before it's what in my mind is 'to late.'