It's almost illegal, let's see what will happen with the Samourai Wallet case
Discussion
And wouldn't liquidy be private too?
Technically in every way inferior. Read some tech comparisons.
Liquid was meant as an arbitrage/exchange tool between CEX.
But it's still bitcoin and not a shitcoin. L-btc loses because it needs trust in the federation. But it gains in anonymity and reduced fees.
I said read about the technical aspects. L-BTC is not BTC. It's a derivative that involves trust in the federation. Now do you participate in the federation? No! So it's a classic trust me bro thing.
Besides that Monero plays in a different league from a privacy perspective.
Giving up some privacy to gain some of the properties of Bitcoin is a smart hedge.
Giving up both essential qualities of Bitcoin and Monero not only sounds stupid. It is stupid.
Liquid is meant to be used by CEX. So if you are not Kraken, Coinbase or Binance what are you even trying t achieve?
You don't gain anonymity. It doesn't hide sender or receiver so is still traceable. Even says this on their website...🤦♂️
I swear, if I called a pair of shackles a "Bitcoin sidechain" yall would clasp them to your wrists just because of the name
my understanding is that by withdrawing bitcoin from the exchange and sending it to sideswap (peg-in) and then transferring L-BTC to my wallet I would already be anonymous. isn't that true?
No you are not anonymous on L-BTC. It is almost exactly like Bitcoin onchain except only amounts are hidden. You can still see what addresses are transacting even if you don't know the amounts.
The Samourai Devs were arrested because they were advertising Whirlpool to be used by criminals. That’s not very intelligent. Obviously you will be arrested. Every six year old could tell you that.
As of right now there is no evidence this goes against mixing itself.
It could though. I am aware of that obviously.
Buying Non-KYC is also still legal.
That isnt true brother. They arent being arrested because that advertises.
They were arrested because the dont have a license for money transmitting.
But they arent doing that because in any part of the Whirlpool they have the custody of the users funds.
This is war on Bitcoin Privacy nothing more. And if you can't have an easy way to have it then the destiny is the dead of privacy on Bitcoin.
Yeah, you might be right actually. I read the press release now. It says: "conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business"
Apparently for the money laundering part they have text messages and twitter posts where they advertised it as such. That's what I mean.
The money transmitting part will be sorted out by the courts. It doesn't mean that they are a money transmitter.