I think they exploited a technicality: it’s self-custodial because you’re holding the keys to L-BTC, but that’s surely not how most users understood it, and they might have counted on that. If that’s the case: 100% fuck them. This is disgusting behavior.

as if it matters more in practice what you call something than how you actually use it

In the case of Liquid most recently, I think it does matter. There were a number of wallets that claimed to be self-custodial bitcoin wallets, but which were liquid wallets. None of those work right now and if users have funds in them, the funds are somewhat fuzzy in nature.

I'll grant you the point on Fake L2s. Using that term wasn't useful.

bitcoin

Is L-BTC a shitcoin?

Scoresby

> as if it matters more in practice what you call something than how you actually use it

In the case of Liquid most recently, I think it does matter. There were a number of wallets that claimed to be self-custodial bitcoin wallets, but which were liquid wallets. None of those work right now and if users have funds in them, the funds are somewhat fuzzy in nature.

I'll grant you the point on Fake L2s. Using that term wasn't useful.