I was referring to the meme the guys in the video were addressing.
this is what we are discussing, just in case you thought it wasn't.
No, the meme in the video is why not run USD on the blockchain technology. They answer assumptions that the currency unit does not need to be native to the blockchain and can in fact be spared. That is far from what we are discussing
You are the only one making that claim, you should address it.
This seems pretty self-explanatory to me but if you insist, I can refer to several of my posts that do adress this :
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You propose that exchanges or any off-scheme schemes running on a fractional reserve is not a direct threat to Bitcoin's sound money function but only a "reputation" problem?
Is it not true that offchain solutions are inherently more likely to run on a fractional reserve than a sidechain where the scarcity is enforced on the protocol level (mathematically) ?
Is it not true that offchain solutions are inherently more likely to run on a fractional reserve than a sidechain where the scarcity is enforced on the protocol level (mathematically) ?
Maybe you want to argue this? Of course you don't since I have addressed these exact concerns in answer to your questioning a couple of pages ago and you never bothered replying or counter-arguing.
In fact you also have yet to answer this one
I totally believe that BlockStream's business as it standards will depend on that fact.
There is a risk of destroying Bitcoin as we know it if BlockStream's goal is achieved.
There is a risk of destroying Bitcoin as we know it if BlockStream's goal is achieved.
So I understand you are also against federated sidechains? Because they also create this exact seperation you are against.
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