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update faq
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psztorc committed Sep 3, 2023
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Expand Up @@ -12,25 +12,19 @@ See also [Paul's Tweet Highlights](https://twitter.com/Truthcoin/highlights).

## 1. Security ## {#security}

### Miners can just withdraw the coins wherever they like? Won't they just steal all the L2 coins? ###
### Miners set the withdrawal destination? Won't they just steal all the L2 coins for themselves? ###

Yes, Miners set the destination for withdrawals.

The security model is econonmic. Miners "farm" sidechains for their txn fees (and their exchange-rate value-add).

The idea is that greedy miners will not kill the goose that lays the golden eggs.

See [the original 2015 post](https://www.truthcoin.info/blog/drivechain/#drivechains-security) and also [this math](//) for concret numbers.
See [the original 2015 post](https://www.truthcoin.info/blog/drivechain/#drivechains-security) and also [this math](https://www.drivechain.info/blog/fees/) for concrete numbers.

When a sidechain is "unpopular", ie:
Withdrawals are very slow, deliberate, rare, and auditable. It is impossible for miners to steal coins, without it being a deliberate concious, comitted effort over 3-6 months. To steal coins in this way, would be to conciously pull the plug on the Drivechain idea.

* Has low total txn fees, AND/OR
* If the sidechain went away, the market price of Bitcoin would NOT fall significantly.

In such a case, Miners lose very little, economically, by taking the sidechain's coins. Especially if mining turnover is low (among pools/devices), and hashrate is stable.


### Isn't that bad? ### {#user-sovereignty}
### Isn't that a bad model? ### {#user-sovereignty}

Not really.

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