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✳️ dcposch on daimo
@dcposch.eth
i had this exact idea two years ago: a one-way bridge, burn Bitcoin to receive BBTC on Ethereum. wrote a btc light client contract, what's left is the token. cc @geohot want to ship it? bitcoinmirror.org https://geohot.github.io/blog/jekyll/update/2024/11/17/a-one-way-bridge.html
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✳️ dcposch on daimo
@dcposch.eth
The challenge with this idea is that for now 1 BBTC is worth at most 1 BTC. You need a special circumstance to drive demand. If enough people realize btc has no long term security budget…
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✳️ dcposch on daimo
@dcposch.eth
Max troll: Once someone proves btc pow is dead (first 100-block reorg), BBTC minting is closed. There is a one-time bonus bringing total issued to 21m. Double your bitcoin by recognizing reality early!
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Chad🎩
@chad
more financial leverage in eth defi compared to what is being built in the land of BTC? is the key difference here compared to other bridging solutions just the fact that its a one way bridge?
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