Quote from: cypherdoc on October 30, 2014, 09:22:07 PM

Quote from: HeliKopterBen on October 30, 2014, 08:36:26 PM

Quote from: cypherdoc on October 30, 2014, 07:45:49 PM

Quote from: HeliKopterBen on October 30, 2014, 07:39:37 PM

Of course the only thing protecting bitcoin from losing its MC status is the block subsidy, so there is real risk that over time bitcoin could cease to be the main chain.

so then you're effectively saying we have to have inflation in BTC for the Bitcoin MC to survive/compete over the long run when put up against a SC issuing a sidecoin and accepting scBTC.

i don't desire that and i certainly don't want to be moving my BTC to a SC.

You either risk a side chain overtaking bitcoin or an alt coin overtaking bitcoin. With the side chain you have the risk free put to take advantage of if the side chain wins out. The alt coin would have a harder time winning without the risk free put, but it could happen. Pick your poison.

you're presuming it is impossible for Bitcoin to upgrade itself. that's incorrect. we've seen it upgraded many times in the past several years.

Gavin and Wladimir are working on some very valuable upgrades as we speak. what's the rush to implement something that could destroy the whole system?

Future upgrades won't be easy and potentially pose just as much risk, especially as the stakes get higher, and some upgrades may be impossible without sidechains. This side chains proposal will be difficult enough to push through. If it works, then innovation can be pushed out to the side chains, which won't pose as much risk to bitcoin. Changes to the Bitcoin core protocol will pose signifiCanty more risk than changes to side chains.