Subnostr

Replying to

mike

Does it have any utility apart from privacy?

Bass 1y ago

Privacy in some aspects, not all.

Pros

-Faster onchain times

-privacy around amounts being sent

-Federation that is safer than a custodial lightning service

-uptime guaranteed to be better than any fediment federation

Automated pegin pegout so the FUD on restricting is kinda bogus

Cons

-sidechain that allows for stable coins to be natively created on the same chain. Doesnt affext bitcoin, but maxis hate it

-trust in a Federation of companies not to rug you, but still better than a fediment, custodial, centralized ecash, or honestly any buggy beta self custodial wallets out there.

-privacy seems to be limited to hiding amounts sent, not where they are being sent. Ecash, fediments, and private lightning channels are better about anonymity, however this assumes your liquid assets are kyc, which most are definitely not

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Discussion

mike 1y ago

For me:

Last two Pros are pros against “not bitcoin”, so I’m going to ignore them.

First con I feel should be a Pro

Fedimint con is not a Bitcoin con, so again going to ignore it.

Last con, wasn’t aware of. Thank you.

You told me stuff I didn’t know, but I still didn’t get a compelling reason to use it.

My previous summary was it has twice the transaction volume of Bitcoin and Privacy.

That’s still pretty much my view, with caveats on privacy.

For somebody like Adam to be involved with this, I am somehow disappointed.

Bass 1y ago

I personally use it for UTXO management out of lightning before going to cold storage. I dont trust lightning as I've a whole bunch of sats with bugs, channel closings, etc. So instead of holding millions in lightning, i can move safe chunks to liquid to build up a massive utxo before moving it to onchain. Blockstream also plans on building lightning on top of liquid to take care of the channel creation fee issues, and reduce fees on that federated chain for pegs in and out. Still early, and their lightning adoption for green wallet still really sucks, but im hopeful. 🤙

mike 1y ago

Now that's interesting.

I have a lightning node with several channels, but I only transact a small amount of lightning for NOSTR and Orangepilling F&F with Wallet of Satoshi,.

I'll check out the Lightning to Liquid development. That might be more interesting.

Thanks

Bass 1y ago

Boltz.exchange is a good place to start. You can convert lightning, liquid, and onchain. Pegout process will be available on the platform soon, however for now, options like aqua or sideswap are your best options. Id recommend familiarizing yourself with the pegout process before any heavy usage. Dm me if you have questions boss

mike 1y ago

Thanks 👍