Oddbean new post about login | logout Isnt Liquid just a corporate Shitcoin? They own your BTC, you own their L-Token. They can censor your transactions on their network. It is not decentralized, the network is owned by a couple coporations. Why should we go that path at all? Whats the big difference to using WBTC on Ethereum?
WBTC is one entity, Liquid is a contractual consensus of financially unrelated entities who would need to block you by majority. Also, lightning payments backed by Liquid channels don't go on chain, so they don't have much say about payments (this is very different to for example wallet of Satoshi, they can do lightning payment level censorship, Liquid not so much). Also, since it's one Lightning network, you can get out through independently operated bridge, not through their multisig. Yes, it's not Bitcoin mainnet, but it has pretty good balance of fees vs privacy vs distribution of decisions for many smaller channels that would otherwise not be possible.
As it is not Bitcoin, it is a shitcoin. Its owned by some corporate entities which get all the fees and they can censor you. If they have that possibility, they will use it when the Feds ask them to. Maybe not now but in a couple of years when Liquid infrastructure is built. To me it is just unfathomable why BTC Maxis simp for Liquid. It is the most anti bitcoin thing i can think of.
I am not a btc maxi. I told you that you can choose when it's useful, some people want to participate in lightning but the fees will price them out. Also - which FEDs? The signers are geographically distributed. It is a tool that can be used in some situations. This bitcoin-shitcoin thing was cool three years ago, now we talk about real world solutions to real problems.
Also, there's not one "we". Someone wanting to dollar cost average 3$ per month to escape extreme poverty has a very different opinion on what is a corporate shitcoin and what is useful to them.
Sure there is not one "we". But how many people do you know which want to dca $3 a month into BTC and think they will escape extreme poverty that way? On a ledger where a transction costs you often more than $3? I think thats all just made up stories to justify crappy, corporate scaling solutions, so crappy that i rather use cash and a credit card instead. Same for FEDI. If dont even have custody of our funds, we can dump that whole idea of freedom money immediately, embrace the CBDC and get some vaseline so the state can fuck us better.
Relax, the world is not black and white,. Yes, I do know of this problem and it's real. nostr:nprofile1qy88wumn8ghj7mn0wvhxcmmv9uq3kamnwvaz7tmwdaehgu3wdaexzmn8v4cxjmrv9ejx2a30qy2hwumn8ghj7un9d3shjtnyv9kh2uewd9hj7qg3waehxw309ahx7um5wgh8w6twv5hsz8rhwden5te0dehhxarj95cjumnzduhxzmn8v9hxjtnrduhsz8rhwden5te0dehhxarjv9n8y6trvyh8qcmyddjzuenedyhsz9nhwden5te0dehhxarj9e5kummnw3sjucmr9uq3gamnwvaz7tmwdaehgu3wd4skgmewd9hj7qgcwaehxw309ashgtnwdaehgunhdaexkuewvdhk6tcpz4mhxue69uhkummnw3e8xct5wesjumn9wshsqgzu4kpv3x8wvcqnwyv5t4587lv4f8mytgq3s3na4ch4uf6vtxxklunvhgqx speaks about it a lot for example, helping people in Africa get onboarded. On-chain fees are a real problem and we should not price out some people just because we think everything should be solved only in one way. Bitcoin is about open mind, expanding options, competition of ideas, not about some predetermined unshakeable ideology. Hal Finney understood and wrote about this in 2010, as did Nick Szabo. https://rextar4444.medium.com/hal-finneys-theory-of-bitcoin-backed-banks-6b6484880c14 We will use plenty of technologies and let people choose their price sensitivity and need for privacy, security and censorship resistance.
Your word in satoshis ear :) On chain fees are a problem, 1mb block sizes in 2024 as well, still missing privacy is the biggest problem to me. I like your approach, we shall build pipes between different technologies. Still we need to see that the foundation for future payment rails is being built right now. If we accept to scale through custodians ( and Liquid is also a custodian, they take your BTC, they give you their L Token ) , then we lose the properties which made Bitcoin revolutionary far before we reach any mass adoption. The more people get onboarded and use a custodial technology, the harder it will be to change it later on. And the easier it is to force KYC. The problem is similar with custodial Lightning. BTC used through custodians with a transparent chain can easily become the CBDC everybody is afraid of.