Even in death, bip110 is distracting people away from what should matter -- tracking down the coldcard hacker, throwing them in prison, and recovering the bitcoin for the victims.
I love seeing Bitcoin adoption but I feel a strong ethical obligation to point out how no Spark wallet app implements unilateral exit. None of them.
This means you fully trust a third party due to how wallets implement Spark support in practice.
Also none of the recovery tools that claim to provide "unilateral exit" actually can do one. They all call out to a Spark server and ask for your statechain leaves. No wallet app saves these locally. If the server is down, you're screwed.
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"Stablecoins are a gateway drug to Bitcoin."
Tell them you're a Bitcoin project. Now introduce the stablecoin integration.
You must have forgotten Bitcoin is the apex asset.
Here’s your periodic reminder that Zcash was originally going to be built on top of Bitcoin under the name Zerocoin but they needed money and thus sold out to create Zcash where they took 25% of miner rewards for themselves as a “dev tax”.
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Anyone holding stablecoins has lost 30% of their purchasing power.
Only in crypto can you get away with calling a token that does a -30% a "stable" coin.
I think long term Liquid + BitVM bridge is going to be the go-to for crypto stablecoin DeFi stuff on Bitcoin considering the maturity of Elements, plus inheriting Core's QA / testing. You have to take into account this new era of AI-guided attacks, and a narrowly scoped code base and/or mature well-tested one are likely advantageous.
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