Quote from: cypherdoc on October 30, 2014, 04:55:20 PM

2. Means: gvt has a 143000 BTC address which they could use to pump into a SC

market participants can follow the money: https://blockchain.info/address/1i7cZdoE9NcHSdAL5eGjmTJbBVqeQDwgw

Quote

4. Money: gvt could partner with Wall St who could start buying scBTC and their preferred form of sidecoin with printed fiat
5. assisted with 51% attacks.

These two would have to be done with printed fiat to maintain the risk-free put. So basically they would have to steal from others to pull this off, which they are good at doing.

I think this attack is an extreme long shot, but a possibility I suppose. IMO, the benefits of side chains outweigh the risks. I would prefer decentralized side chains without changing existing core code, but from what I understand, that can't be done. So their proposal is the next best thing. We have known for a while that bitcoin needs to scale somehow. Whether SCs, TCs, increasing the block size limit, or a combination is necessary, bitcoin needs to scale to become a global reserve currency (I prefer the term backbone currency as I believe we should scrap as much legacy terminology as possible... the current fiat train wreck needs to be forgotten). Technically bitcoin is still in beta. This could be the last major change necessary for a finished product.