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Author Topic: The Bitcoin Social Network  (Read 342 times)
Hamza2424
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February 06, 2024, 07:00:29 PM
 #21

So you mean, we can use our original BTC as collateral, and can get WBTC instead, and can use those WBTC on L2 layers of Ethereum, with a fee in cents. But don't you think we already have the facility to convert our BTC into WBTC? If you are saying our original BTC will remain the same as they were and they will be locked into the staking pool by some centralized operators, and when we stake our real BTC there we will be given an equal amount of WBTC that we can use for any purpose.

Haha, quite similar thoughts, anyway L2 scaling solution won't be a good idea because there are many concerns and as you said centralization risks are involved on the same time Bitcoin won't be Bitcoin anymore if we use the other scaling solution still has an additional layer which directly means there's gonna be more vulnerabilities to the network. As a friend of mine said above it will be another trash attempt of scaling the network. it will be another mess from mess haha kind of strange.

Faisal2202
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February 06, 2024, 07:57:56 PM
 #22

Haha, quite similar thoughts, anyway L2 scaling solution won't be a good idea because there are many concerns and as you said centralization risks are involved on the same time Bitcoin won't be Bitcoin anymore if we use the other scaling solution still has an additional layer which directly means there's gonna be more vulnerabilities to the network. As a friend of mine said above it will be another trash attempt of scaling the network. it will be another mess from mess haha kind of strange.
You are right that L2 scaling solutions won't be good enough but you know what, people will still join such projects just for the sake of money for example there is an airdrop ongoing, the project named as "Particle Network" and on that particle in order to be eligible to get airdrop you have to hold BTC on Merlin Chain's Mainnet. But there are other options available too to get points that will make you eligible for airdrop. The project is getting so much hype and the websites have 6 figure traffic.

I won't say L2 for BTC has no place or bad idea, but I will say we need these, aside from the Lighting network we need such platforms to increase the scalability of BTC, on-chain and off-chain data transactions are needed in BTC. This will change the future of BTC but at an early stage, we might not see big success but every success starts from a small idea. So let's encourage it.

dlightag
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February 08, 2024, 08:14:34 AM
 #23

The world is advising every day and the social network makes it easier to connect people across the globe in which using Bitcoin asset for transaction is a very good on if the charge fees will be minimax with a fast confirmation is good to be a good one in the service.
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