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10 sats \ 7 replies \ @pakovm OP 21 Apr \ parent \ on: Look at this sh*t somebody tried to sell me as a scaling solution for Bitcoin bitcoin
That's a non answer to the problem if you ask me.
What makes Liquid any different to Stacks WBTC, Polygon, Loopring, etc... Other than not having a governance token and/or running on Ethereum?
Everyone has been shiting on those things for years.
I don't know anything about those Eth-style solutions so I can't really comment. But you say "other than not having a governance token" as if thats some small thing.
Liquid BTC (L-BTC) only exist when BTC is locked into the multisig. Its auditable that the same amount of BTC in multisig = same amount of L-BTC in existence.
Your practical options at this point in time are:
- Mainchain
- LN
- Liquid
- WBTC / etc
- CEX
Thats all you have to choose from at the moment. Pick the thing you feel minimizes your risk and maximizes your benefit.
Personally, I think the list of Liquid members represents some of the most pro-bitcoin groups out there. The vast majority of those members are bitcoin only players...personally I trust them more than I trust WBTC / etc / whatever.
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Still doesn't solve the problem.
The problem is not "how much you can trust Liquid and its federation", the problem is that trust is not a scaling solution for a trustless system.
Refusing to acknowledge trade offs is utopian and immature and petulant
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Wait, so well call the others "shitcoins" and "Peak FIAT" for years and now, Liquid, which has the exact same properties is just "a series of tradeoff"? What absolves them from being a shitcoin and "Peak FIAT"?
Has the community become this stupid or am I taking crazy pills?
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Crazy pills
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