Well the current peg-out arbiters are centralized exchanges,...

21_21_21

npub1hce578d83hff5c594p2pysunkhw24k3z7lj5czkd2vafs04y6v8q9ayrcy

hex

9cd7a46f3cdd7296486fcdcb6f9ed68dfb970bda891f7a94a9f156bbc76e7a74

nevent

nevent1qqsfe4aydu7d6u5kfphumjm0nmtgm7uhp0dgj8m6jj5lz44mcah85aqprpmhxue69uhhyetvv9ujuem4d36kwatvw5hx6mm9qgstuv60rkncm556v2z6s4qjgwfmth92mg300e2vptx4xw5c86jdxrs35g57s

Kind-1 (TextNote)

2026-08-16T01:51:53Z

↳ Reply to Event not found

098612e205c82be31a590a1572d387972575bd558b8abbfaaa430deddb026727...

Well the current peg-out arbiters are centralized exchanges, DEXes, and other systems. The value flows from BTC to other places where you can use your money in other ways. None of those systems are contributing much if anything to BTCs security budget. In drivechains, they would. All of the market cap and fees from Ethereum, monero, and other BTC competitors could be contained in the BTC ecosystem.

Instead we have the current situation where there's more BTC wrapped into Eth than there is on the lightning network. And lightning has no way to scale to 8 billion users because every channel requires a utxo.

All while we fight over the "right" way to manage L1 instead of letting different options compete simultaneously and letting users choose.

Raw JSON

{
  "kind": 1,
  "id": "9cd7a46f3cdd7296486fcdcb6f9ed68dfb970bda891f7a94a9f156bbc76e7a74",
  "pubkey": "be334f1da78dd29a6285a854124393b5dcaada22f7e54c0acd533a983ea4d30e",
  "created_at": 1786845113,
  "tags": [
    [
      "e",
      "098612e205c82be31a590a1572d387972575bd558b8abbfaaa430deddb026727",
      "wss://bitcoiner.social/",
      "root",
      "27505421c268f363078bf5400d68273b9871e8e35263fdc4532600025eaf3f13"
    ],
    [
      "p",
      "be334f1da78dd29a6285a854124393b5dcaada22f7e54c0acd533a983ea4d30e",
      "wss://relay.primal.net/"
    ],
    [
      "p",
      "27505421c268f363078bf5400d68273b9871e8e35263fdc4532600025eaf3f13",
      "wss://relay.damus.io/"
    ],
    [
      "client",
      "Amethyst"
    ]
  ],
  "content": "Well the current peg-out arbiters are centralized exchanges, DEXes, and other systems. The value flows from BTC to other places where you can use your money in other ways. None of those systems are contributing much if anything to BTCs security budget. In drivechains, they would. All of the market cap and fees from Ethereum, monero, and other BTC competitors could be contained in the BTC ecosystem.\n\nInstead we have the current situation where there's more BTC wrapped into Eth than there is on the lightning network. And lightning has no way to scale to 8 billion users because every channel requires a utxo.\n\nAll while we fight over the \"right\" way to manage L1 instead of letting different options compete simultaneously and letting users choose.",
  "sig": "dfac1f2ce1aeac4f9394608353b5bf74705bd71b84c301ea7bb7df61643a7a6a6d171272ceedb91e66e207638928dc7af372a598b072d29c3044d54d36b8b986"
}