BitcoinDesign / Guide

A free, open-source community resource for designers, developers and others working on non-custodial bitcoin products.
https://bitcoin.design/guide/
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Add "Stable channels" to the "Stabilizing bitcoin value" page #1076

Open GBKS opened 5 months ago

GBKS commented 5 months ago

This was brought up during late review on the page. See this post for details.

I have not looked into it super deeply, but seems like this mechanisms uses a dedicated lightning channel to stabilize bitcoin value to another currency for one channel partner, where the other partner takes the opposite bet. That general mechanisms is explained on the page already, so this is a different way of implementing it.

sawaja commented 5 months ago

This sounds really interesting. Can we discuss? I think I can help.

GBKS commented 5 months ago

Awesome, glad you're interested, you're welcome to tackle this. We can chat here or in the bitcoin-design-guide channel in the Discord. Do you have any general or specific questions to kick things off?

sawaja commented 5 months ago

Give me 1-2 days

We are digging into it

Will revert with questions


From: Christoph Ono @.> Sent: Tuesday, March 5, 2024 12:24:36 AM To: BitcoinDesign/Guide @.> Cc: Salahuddin Khawaja @.>; Comment @.> Subject: Re: [BitcoinDesign/Guide] Add "Stable channels" to the "Stabilizing bitcoin value" page (Issue #1076)

Awesome, glad you're interested, you're welcome to tackle this. We can chat here or in the bitcoin-design-guide channel in the Discordhttps://discord.gg/K7aQ5PErht. Do you have any general or specific questions to kick things off?

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sbddesign commented 2 months ago

I believe that stable channels are inherently very risky. IMHO, they are not fit for mention. If they are mentioned, then it would be wise to dive into the highly risk trade-offs that can harm the user.

GBKS commented 1 week ago

Have not read it yet, but this post by Nicolas Dorier dives into the topic.