I think there is no harm in allocating some sats to venture capital like the LN, everything that is build on top of Bitcoin is VC at this stage.
What did they propose would then scale Bitcoin to the World?
[813910]
I’m not against Vc fundraising. I am pro capitalism and competition. The only issue is lightning is the only layer 2 in town that’s classed as on bitcoin. More competition for different layer 2s is better for users and bitcoin price.
Yep fully agree. More competition would be very healthy for the ecosystem. I did not have the time yet to study Liquid, could that be considered as a competitor to LN?
[813911]
Well Liquid requires trusting a federation and it’s not on bitcoin.
It’s a separate blockchain with its own functionalities but basically blockstream can steal your bitcoin or give up financial records to the state whenever it’s pushed to. Liquid federators/investors take a cut in fees for transactions. You have no privacy despite its claims for confidential transactions. It’s basically like trusting wallet of satoshi. Too much trust involved.
Why I push for drivechain over others is you can have multiple separate blockchains where users trust miners to follow their economic incentives and game theory like on Bitcoin main chain/L1. The transaction fees go to miners instead of federations/investors.
I had no idea for Liquid, will read up on this.
[813917]
Nobody uses it and been around longer than LN. 😅
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