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October 15, 2020, 07:39:19 PM |
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I'm interested in using the Namecoin blockspace for Bitcoin transactions. Roughly speaking you'd create a wallet that would for every BTC deposited and held in lockup, dispense one colored NMC. The colored NMCs could be traded with WHOMEVER (at the NMC txn fee cost) back, forth and around the corner until finally when you want to unlock your BTC you'd burn the colored NMC. (*you could generalize and actually arbitrage any blockchain's "real estate" for Bitcoin transactions it's just that Namecoin's blockspace is by far the most secure per unit cost, but there are other benefits to using NMC)
Even with a firmly rooted Lightning Network we could very well see a cost of $20-50/BTC txn in the next five years. Wouldn't it be great if we had a temporary solution in place to handle the demand for cheap secure txns that obviates the 'need' for another POS hyped shitcoin?
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