how long have you been researching Liquid?
i have been using it daily for about 2 years. i even find it useful to break chain of custody links for DCA bitcoin like a coinjoin
I want to talk about #Liquid
I appreciate what nostr:npub1jg552aulj07skd6e7y2hu0vl5g8nl5jvfw8jhn6jpjk0vjd0waksvl6n8n is attempting to do, and I can definitely see the benefits of Liquid for businesses
However, I think there are two major reasons why Liquid is not seeing much adoption with plebs:
1. There are only 15 "functionaries" that are able to peg you out. I understand this is a technical issue, but still very centralized.
2. Liquid offers "confidential transactions", but this is much different than "private transactions". Confidential means Liquid "hides both the type of assets and amounts that are transacted", but according to the website:
"The addresses of senders and receivers further remain visible as well and can be retraced like on the Bitcoin blockchain."
This means the government can still track payments, so Liquid wouldn’t help much if we need to support Canadian truckers.
Liquid is a great legal business, but the argument to "just use Liquid" for cypherpunk money is not good advice.
Discussion
I’ve been hearing a lot about Liquid from the drivechain discussion, and decided to dig a little deeper.
I’ll need to look a little deeper into breaking KYC custody. I’m not really sure it’s possible, but could be a potential use case.
drivechains are attempting to steal the show from better options like Liquid, its really just that simple. happy hunting on your path of discovering Liquid.
Your privacy on Liquid is mediocre, transaction graph is visible, and your anon set is like 3 people.