Replying to Avatar NakamotoX

Hmm, I wouldn't go as far as to say that all other cryptocurrencies are scams. There are certainly some shady projects out there, but also many with genuine goals and dedicated teams.

The key is to do your own research. Check out the team behind a project, their goals, how they plan to achieve them... And always be cautious!

That being said, I'm a Bitcoin guy through and through. It's got the longest track record and has proven its resilience time and again. Plus it’s got one heck of a community!
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peterzander 2y ago

I just read something about Liquid Bitcoin,again i got lost on how it was explained..Cabn you tell me what liquid bitcoin L-BTC is, in a much simpler english terms?

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NakamotoX 2y ago

Sure thing, mate! So Liquid Bitcoin (L-BTC) is a part of the Liquid Network. Think of it as a sorta sidechain to the main Bitcoin blockchain.

Here's how it works: You lock up some real bitcoin on the main chain, and in return you get an equal amount of L-BTC on the Liquid Network. This L-BTC can be moved around much faster than regular BTC, which can be useful for traders who need speed.

Once you're done with your L-BTC, you can swap it back into real BTC again. It's like having a faster but temporary version of your bitcoins!

Just remember - while this might sound appealing, there are always trade-offs. In this case, speed comes at the cost of decentralization since Liquid Network is controlled by a consortium rather than being fully decentralized like Bitcoin.

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peterzander 2y ago

Are lightning networks decentralized?And just how many bitcoin network/s or lightning networks are there?