Ethereum

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

Real World Ethereum 🌎 
building /daimo ✳️ 

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…

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!