Liquid to BTC swap, that could wait for a low transaction fee rate?
422 sats \ 4 comments \ @Signal312 9 Oct bitcoin_beginners
Is this an option?
I know you can swap liquid to BTC via tools like boltz.exchange, but that has to be immediate so you pay high fees.
And for a pure bitcoin transaction, I know you can put a BTC transaction out there in the mempool, with a low transaction fee, and it will eventually go through when fees go down.
Is it possible to do the same with Liquid to BTC?
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34 sats \ 0 replies \ @TheBTCManual 9 Oct
Nah Liquids a 2 tier system, and plebs don't get peg out options you'd need to have direct comms with a federation member to honour a peg out and batch or set a low fee transaction, and why would they want to do that? Too much hassle for no real reward
main chain block space is cheap as chips now but if it were to pop off to 100 sats per vbyte + and you want to use this method, you're already saving by skipping out on 1,2,4,5 or however many transactions you do that when you do choose to move to the basechain even at 50 sats per vbyte you still saved a bunch and have a consolidated UTXTO when you swap out
Theres no free lunches in bitcoin, pay your fees!
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64 sats \ 0 replies \ @OT 9 Oct
Not that I know of.
You could just hold the liquid until on chain fees come down (like now) and peg back in.
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0 sats \ 0 replies \ @DarthCoin 9 Oct
Liquid is not a L2... is a sidechain.
Liquid was a good intention. It was coming up early in the block size wars as a proposal for exchanges, to have some kind of interoperable network to move funds between them, faster and cheaper than BTC onchain, but still using BTC. I kinda agree with that use case. A federation that is moving funds privately between them.
But then LN was launched and come in force and Liquid kinda lost the use case. The block size war was also over, segwit in place and onchain mempool liberated, so even the exchanges that were excited about Liquid, they were still preferring to do it over onchain as usual.
LN got more and more grip and Liquid was slowly forgotten and became useless. Now Blockstream, want to push people into using it as it would be a "cheapest and fastest" way instead of LN, because they do not want to see it terminated (as nobody is using it). In the end they put a lot of effort and money to build it. IMHO they should go back to the original idea to be used for private entities and not pushed to large masses of users.
Now all those onchain maxis want to use Liquid instead of preparing in time, with calm new LN channels. That's why this crazy mania with Liquid. But as usual when the onchain fees are going down, Liquid use is going to meaningless until zero.
A TLDR:
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0 sats \ 0 replies \ @DarthCoin 9 Oct
Don't let them fool you with this liquid crap.
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