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To: "raymo@riseup.net" <raymo@riseup.net>
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Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Boost Bitcoin circulation,
Million Transactions Per Second with stronger privacy
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X-List-Received-Date: Mon, 28 Jun 2021 05:20:17 -0000
Good morning Raymo,
>
> It looks you already missed the entire design of Sabu and its
> restrictions. First of all, the Gazin wallet always controls the Sabu
> restrictions for every transaction in order to consider it as a valid
> transaction in a valid deal. That is, the creditor wallet controls the
> MT and GT in first place.
Stop right there.
From the above, what I get is, "trust the Gazin wallet".
Thus, the suggestion to just use Coinbase.
At least it has existed longer and has more current users that trust it, ra=
ther than this Gazin thing.
Is Gazin open-source?
* If Gazin is open-source, I could download the source code, make a local c=
opy that gives me a separate copy of the keys, and use the keys to sign any=
transaction I want.
* If Gazin is not open-source, then why should I trust the Gazin wallet unt=
il my incoming funds to an open-source wallet I control have been confirmed=
deeply?
Lightning is still superior because:
* It can be open-sourced completely and even though I have keys to my oncha=
in funds, I *still* cannot steal the funds of my counterparty.
* Even if I connect my open-source node to a node with a closed-source impl=
ementation, I know I can rely on receives from that node without waiting fo=
r the transaction to be confirmed deeply.
All the benefits your scheme claims, are derived from the trust assumption,=
which is uninteresting, we already have those, they are called custodial w=
allets.
Lightning allows for non-custodiality while achieving high global TPS and l=
ow fees.
And a central idea of Lightning is the requirement to use an n-of-n to form=
smaller sub-moneys from the global money.
Regards,
ZmnSCPxj
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