well, there you go. we can see how SC's are going to be implemented, if you're correct. these corporate ledger systems can expected to be managed the same way as they are now, opaquely and possibly subject to manipulation.
The difference being that the user will now be offered a more open source alternative from which to choose. The fact that more opaque, closed-source system will exist is inevitable and should suprise no one. Whether they succeed or not in this new paradigm of open source code and trustless alternatives is another question. One that the free market will decide
lol, your attempts at subterfuge are so obvious. or maybe you're just naive. the corpSC does not function or work w/o liquidity or value. the whole SC exercise is to be able to move BTC to SC. for corpSC to work well, it needs to attract as much value and liquidity as possible, and in this case, by definition that is as many BTC as possible. such logic failure.
Hmm no, your brain dead logic is the failure. For corpSC to work well, it needs to attract as much value and liquidity as NECESSARY FOR THE SERVICE TO FULLFILL THE DEMAND OR NEED. One cannot create more demand for an application than exist.
It takes a real idiot to consider that there are a bunch of applications of features that would be more important to people than
MONEYwhat's obvious here is that these gangs of top level corps dependent on the current fiat system can't compete in a Bitcoin self contained world. the best way to deal with this is to transform these problematic Sound Money BTC to corpCoin via SPVproof.
There goes your brain dead logic in action once again. Corporate entities willing to bootstrap a closed-source, opaque sidechain on top of Bitcoin will
NOT want to use SPVproof+MM. The federated server model is preferable to ensure control over the chain and security that is not dependent on miners MM.
As you would know, the federated model exists with Bitcoin as is. Therefore Blockstream could create such type of chain for corpCOIN
RIGHT NOW without the need for SPVproof
That fucks up your logic quite a bit, doesn't it?
One of the features of side chains is that they don't need a free market to succeed. They don't need open source or even demand for the side chain.
1) Bitcoin merchant franchise company central office buys some BTC, and sends it to their side chain.
3) company distributes the coupon "backed with bitcoin" (coupon is worth $20 off and has $0.10 worth of BTC in it with a locktime transaction at the expiry date so company gets it back if not used).
4) franchisees that accept the coupon are compensated the $20 back from the corporate promotion and they get 0.10 in BTC as their redemption bonus if redeemed before the expiry date.
This would not need to be open source, or require any free market distribution or any users to buy it even.