Commerceblock folks apparently implementing statechains idea with two tweaks:
1) nLockTime scheme to work around lack of eltoo.
2) 2-party ECDSA MPC to do some key sharing scheme I didn't read. Cute defense against old share hacks, but complexity++
interesting new points(to me):
1) Volatility favors miners. They can turn off machines(to bound loss) or benefit when price goes up. Paper actually considers what to do if BTC becomes "too stable" and loses mining security.
2) People can expose themselves to very similar financial instruments(obvious in hindsight I guess)
Caveats I can think of:
1) Mining gives "clean" BTC and generally doesn't expose you to regulators.
2) Hardware depreciation schedule favors physical mining(maybe?)
This is, to say the least, interesting:
Fancy Bank Eng Manager at
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