sipa changed the topic of #bitcoin-wizards to: This channel is for discussing theoretical ideas with regard to cryptocurrencies, not about short-term Bitcoin development | http://bitcoin.ninja/ | This channel is logged. | For logs and more information, visit http://bitcoin.ninja
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<bsm1175321>
JackH: I think the idea is a very good one, in the sidechains model: each chain is a light client towards the other. But alas that's not what they're doing.
<bsm1175321>
If you read my probing this morning, there are still a lot of unsolved "light client" problems on Bitcoin. (UTXO set commitments, fraud proofs, etc)
<bsm1175321>
I have no idea why anyone would "trust" that someone else's ledger is internally consistent, and then put funds on it. That just doesn't make any sense at all. It's what makes fractional reserve a la Mt. Gox so easy to pull off.
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