fair point... but liquid has sats as the standard, backed by btc, fully pegged to btc price, full utxo set (no other stuff on chain, no smart contracts etc). i dont think there is one shitcoin has all those features.
why does that matter? it would be useful in a high fee environment. Its a solution to a problem that we do not have yet, but if and when we do, it would be good to have around. custodial lightning is good but we dont want to be overly reliant on that. non custodial lightning requires less trust but it does not work as good. liquid, while not as fast and cheap as lightning but its a bit more secure and more reliable.
all that being said i expect liquid to fail at somepoint in the future. few things are built to last forever, bitcoin being one of them. liquid may be the first federation but i dont think it will be the last. its run by humans and it is somewhat centralized... so im aware of this. i dont expect it to rug anytime in the next decade or so (at the least). but what it will do imho is serve as a much needed tool to help bitcoin scale into the mainstream which will be worth it before liquid federation eventual ruggening and replacement by something else. or maybe im wrong and lightning gets so good so fast that there will be no need for it or anything else like it, which im cool with that. but for now im glad its there. in a high fee environment where a good percentage of the population is regularly transacting in bitcoin (which could be sooner that we might think), i would anticipate lightning being used for most transactions between 1 cent and 1k usd in todays buying power. liquid or somehting like it could be used for transaction between 1k and 25k, and bitcoin would only mostly used for transactions 25K and over.
and to keep it 100, perhaps i trust blockstream and the liquid federation more than they deserve. but i dont keep l-btc as some sort of store of value, and i never use it because nobody else uses it and fees are low as fuck right now anyways. but if liquid federation is not good actors perhaps liquid network is the least of out problem.
Scrotus
npub1t0…m53m9
2024-05-20 22:46:23
in reply to nevent1q…2mhf
Author Public Key
npub1t04cvx3d0a3le22rgnekk20wvr3l4jpg93vkledsyakas96puqaqwm53m9Published at
2024-05-20 22:46:23Event JSON
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"content": "fair point... but liquid has sats as the standard, backed by btc, fully pegged to btc price, full utxo set (no other stuff on chain, no smart contracts etc). i dont think there is one shitcoin has all those features.\n\nwhy does that matter? it would be useful in a high fee environment. Its a solution to a problem that we do not have yet, but if and when we do, it would be good to have around. custodial lightning is good but we dont want to be overly reliant on that. non custodial lightning requires less trust but it does not work as good. liquid, while not as fast and cheap as lightning but its a bit more secure and more reliable. \n\n\nall that being said i expect liquid to fail at somepoint in the future. few things are built to last forever, bitcoin being one of them. liquid may be the first federation but i dont think it will be the last. its run by humans and it is somewhat centralized... so im aware of this. i dont expect it to rug anytime in the next decade or so (at the least). but what it will do imho is serve as a much needed tool to help bitcoin scale into the mainstream which will be worth it before liquid federation eventual ruggening and replacement by something else. or maybe im wrong and lightning gets so good so fast that there will be no need for it or anything else like it, which im cool with that. but for now im glad its there. in a high fee environment where a good percentage of the population is regularly transacting in bitcoin (which could be sooner that we might think), i would anticipate lightning being used for most transactions between 1 cent and 1k usd in todays buying power. liquid or somehting like it could be used for transaction between 1k and 25k, and bitcoin would only mostly used for transactions 25K and over.\n\nand to keep it 100, perhaps i trust blockstream and the liquid federation more than they deserve. but i dont keep l-btc as some sort of store of value, and i never use it because nobody else uses it and fees are low as fuck right now anyways. but if liquid federation is not good actors perhaps liquid network is the least of out problem.\n\n ",
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