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Lightning Bitcoin is Bitcoin because you can self-custody if you wish.

You can’t self-custody Liquid. Is it a shitcoin? Is it one that we approve of because we trust and respect the bitcoiners behind it?

If some crypto-blockchain startup built a “shared-custody pegged-to-Bitcoin” token, they would not be received kindly.

What makes Liquid different? (I’m actually asking — not trying to stir up controversy). L-BTC is obviously serving a potentially valuable role in Bitcoin’s story.

What sets it apart from another generic cryptographic pegged token? #asknostr

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Discussion

graffiti 1y ago

Like any custodian, it's fine as long as they remain small, unlike coinbase.

boston wine 1y ago

Fair point. Looking at it like cryptographic custody rather than actually holding an asset

graffiti 1y ago

Right. You should be able to compare liquid with fedimint. They are both locking your funds in a multisig.

boston wine 1y ago

That’s a very acceptable way to think about it. And it does seem clearly distinct from some random crypto with an alleged 1:1 peg. I’m not entirely sure why yet, but it’s like I can tell there’s a difference in my peripheral vision 🤔

Kendy 1y ago

Liquid has privacy benefits.

cc: nostr:npub1lnms53w04qt742qnhxag5d6awy7nz6055flnmjkr6jg39hm86dlq7arrnt nostr:note1h3xmp9hhc6cg4j0adnnwevfgnvvmaaeas4cdrfruv3lrnph3xnys5jk64e

boston wine 1y ago

Much appreciated 🤙