I could be completely wrong but this isn't really a secret, right? Blockstream is a corporation that controls Liquid. I never thought of it as trustless. I have never used it for just that reason. Still, I trust @k00b not to steal my stack here. To each his own.
Indeed. If I wanted to do business on Liquid it would likely be a result of trusting Blockstream as a business. The same me leaving sats on stacker news. I wouldn't do that if I didn't trust the crew.
But also, for their effort, if they decide to rug pull they earned ever sat!
I actually aim to praise the efforts of the Stacker News developers, which I consider much more valuable than the sats I have custodied here. I do not want them to steal anyone's sats. You mistake a sarcastic comment with some generalization about my ethics
The OP on snort sounds braindead. NIST defines a backdoor to be an "undocumented way of gaining access to computer system." There is nothing undocumented about this, it's literally in the whitepaper on the official website. The whitepaper also says the offline signing keys held by Blockstream need the cooperation of the corresponding participants to decrypt. It also says the emergency keys can only be used after a relative timelock.
Liquid still requires trust in the federation and is different from Bitcoin in that way, but being conspiratorial about an openly documented thing feels like engagement farming.
I don't really understand Liquid. I downloaded green wallet and sent a small amount of Bitcoin to it. I thought I could convert that to Liquid Bitcoin but apparently that's not how it works. At some point I will go down the liquid rabbit hole.
I did this and got a transaction confirmed but for the past half hour it just says claiming transaction now. Fortunately I only converted 10k sats as a test so if it goes awry it's not a big deal but I am even more confused then when I started.
Just tried again and it worked instantly. That was odd the first time. Now I have some L-BTC and I need to figure out what to do with it. Can I buy 2 dollars in volcano bonds?
Yeah, I remember playing around with Green and was quite surprised that there wasn't an inbuilt way to swap between BTC / LBTC and other Liquid tokens (such as USDT).