> Again, off-network exchanges still require the network to verify,
I'm referring to totally off-network exchanges. Most people (sadly) are happy to own bitcoin via an intermediary. They wouldn't notice this attack at all.
And the exchanges, settling 10,000+ bitcoins at once, could easily pay any plausible transaction fees, so nothing would even grind to a halt.
The attack would prevent me using the local Bitcoin vending machines for $4 purchases, but wouldn't impact the overall settlement of large amounts.
> I'm really not sure what you're getting at with "elements of surprise".
You say people would migrate off Bitcoin because of the attacks. But really, people would detect and analyze the attack and recognize the intent. They'd make informed decisions in how to respond, given that an adversary of this class wouldn't be likely to give up with only one currency destroyed.
> You do need to prove that pink unicorns exist by giving examples, rather than describing it.
The only reason to believe that all sidechains must scale badly is one unsourced claim of yours, based presumably on your examination of a subset of the ones that exist. If you care to present a broad proof that the entire concept is impossible, go for it.
I'm referring to totally off-network exchanges. Most people (sadly) are happy to own bitcoin via an intermediary. They wouldn't notice this attack at all.
And the exchanges, settling 10,000+ bitcoins at once, could easily pay any plausible transaction fees, so nothing would even grind to a halt.
The attack would prevent me using the local Bitcoin vending machines for $4 purchases, but wouldn't impact the overall settlement of large amounts.
> I'm really not sure what you're getting at with "elements of surprise".
You say people would migrate off Bitcoin because of the attacks. But really, people would detect and analyze the attack and recognize the intent. They'd make informed decisions in how to respond, given that an adversary of this class wouldn't be likely to give up with only one currency destroyed.
> You do need to prove that pink unicorns exist by giving examples, rather than describing it.
The only reason to believe that all sidechains must scale badly is one unsourced claim of yours, based presumably on your examination of a subset of the ones that exist. If you care to present a broad proof that the entire concept is impossible, go for it.