Nostr Web Client

Bitcoin transaction fees limit network abuse by making usage expensive.

There is a cost to every transaction, set by a dynamic free market based on demand.

It is an incredibly robust way to prevent spam without relying on centralized entities that can be corrupted or pressured.

https://www.discreetlog.com/utxos/

Modus 2y ago

I would love to hear a Citadel Dispatch episode on the Liquid network. I think it could be a good alternative in a high fee environment. In particular I'm curious to hear what Wiz thinks about the usefulness of Liquid these days.

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Discussion

6bc8867d... 2y ago

I have very much enjoyed using the SideSwap app. Problem is, I have yet to see a merchant that accepts liquid bitcoin. Peg ins & peg outs are 0.1%, which imo is not too much for occasional on chain transactions. Minimum on chain payment (peg out) amount is currently 100,000 sats, but with current on chain fees, probably best to use lightning if possible for those smaller amounts anyway. Blinded transaction amounts on the liquid blockchain are nice too!

Modus 2y ago

Of all the problems you listed, the fact that merchants don't use it seems to be the most important, and that can be addressed. Let's get more merchants using it!

And it's not just merchants but also peer-to-peer exchange: not enough people use it. So let's start using it.

nostr:npub12z5nym0qkxhdrvmyhup2llzp98lryr38gw8ywxktkps9eqdts7asjj9k9c Would you be interested in accepting liquid-BTC payments?

BtcPins 2y ago

Nah

Modus 2y ago

BtcPins 2y ago

Better to use tools that let users seamlessly swap between the two, so you can pay Bitcoin/lightning using whatever other thing you want. I only want to accept Bitcoin.

I have no use for liquid or anything else like that.

6bc8867d... 2y ago

Yes, totally agree with the peer to peer use case also. Amounts not so large that need full security of on chain (avoiding potentially high fees and confirmation times), but larger than small lightning amounts (amounts that may require more lightning channel liquidity management).