lightning users are so used to using custodial wallets that sidechain multisig is self custodial now
nostr:note14ezc4a53lpnjj3pjt4a5l5072entvfyp6rxyyq2m59z4gaq5jt0ssngz86
Discussion
nevent1qqsxxaz7fv7hcz3e78yez4pqtenjjgxyld3tpk77mpfdz88els4z0rqpzemhxw309ucnjv3wxymrst338qhrww3hxumnwq3qvgldyxx7syc30qm9v7padnnfpdfp4zwymsyl9ztzuklaf7j5jfysxpqqqqqqzqet5pk
Yeah you’re trusting about 15 liquid federation operators
I understand that using it…but do others? Good question. Using self-custody to describe liquid could be tricky.
Hey, do you consider having cash in your wallet custodial? If not, what's the distinction from Liquid?
“Cash” held in Liquid’s wallet is not self custody.
Cash in MY wallet is self custody.
Oh really, what's the difference?
A “wallet” is actually a private key
If you’re using someone else wallet, only they can sign transactions to move funds because they hold the private key.
If you use a self custody wallet it means you hold the private key and you control any movement of funds.
Lol, yes, I know what a private key is. You hold your own private keys on Liquid. So, there's not really a point being made here.
The issuing authority and the payment infrastructure is the Liquid Maintainer's "custody."
The LiquidBTC is full yours just like cash in your wallet. The difference is the federated group can't print more LBTC without collateral (unlike the federal reserve)