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I’ve always said Liquid was underrated and was eventually going to have its day. I’ve had a chunk of LBTC for like 3 years that I’ve not gotten to do anything with 😆

The real shift happens when I have an ecash wallet and a Liquid wallet that pay Lightning invoices instantly a natively. With Greenlight, SDK, + Liquid, Breez could be an LSP bridge between Liquid and Lightning built right into a wallet without having any custody.

Big opportunity to dominate that area, imo. nostr:note12l0hpryndxk4xl6zc0ken6u4jg8ewrj4yekd95yw2vsnq89w2k7qdkewch

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Discussion

utxo the webmaster 🧑‍💻 2y ago

Nodeless was only a few weeks away from launching liquid payments:(

MattA 2y ago

Have you done a pod about the differences of Liquid & Lightning?

We need a deep dive on this.

Guy Swann 2y ago

I have covered it a lot throughout the past but probably worth bringing to the forefront again. The way I think about Liquid is as a pseudo custodian distributed across jurisdictions with privacy built into all transactions.

A federation is still just an IOU in a certain sense, but with a far higher difficulty of a hack, much better provenance when it comes to full reserve and transparency, completely open codebase, and with privacy within liquid (regarding amounts) from even the operators of the network.

It’s essentially a highly optimized and more secure custodian model that mitigates the “single trusted third party” problem. A model that’s specifically unique to bitcoin.

MattA 2y ago

it’s an interesting avenue to explore

Bayman11771 2y ago

Agreed, I think the Liquid model is starting to demonstrate its advantages. I am concerned about how the Beast in DC will react to the federated model if it gains traction. The mere whiff of anything “custodial” triggers instant bloodlust. The great team at Blockstream should start considering this possibility and how to address it.

MKD Podcast 2y ago

🤣🤣🤣

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Guy Swann 2y ago

Federations are going to be a big part of the ecosystem. Still believe that.

dr.fred 2y ago

self souvereign will play a big part in the apocalypse

Guy Swann 2y ago

Also agree 🤷🏻‍♂️ none of this is mutually exclusive.

MKD Podcast 2y ago

🛸🛸🛸

OceanSlim 2y ago

Liquid is far easier and cheaper to self custody.

Guy Swann 2y ago

Eh, sort of. It’s only pseudo self custody in a way. But it is easier to operate, but certainly isn’t the same in regard to user control. Don’t want to sell it as something it isn’t.

Gildong.Hong 2y ago

Not pseudo self custody. Just IOU.

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Guy Swann 2y ago

It’s in the sense that you hold your own keys that are not identity based, but as I said in like 3 other comments, I agree, it is an IOU.

Gildong.Hong 2y ago

(X) Bitcoin pseudo self custody

(O) Bitcoin IOU self custody

Guy Swann 2y ago

Have a god day dude. If you actually care to learn about the trade offs and how I think about it I’ve covered it a bunch on Bitcoin Audible.

Gildong.Hong 2y ago

That tradeoffs will repeat the history. I don't want to see that.

⚡₿it₿y₿it⚡ 2y ago

Can we expect this kind of implementation in nostr:npub1jg552aulj07skd6e7y2hu0vl5g8nl5jvfw8jhn6jpjk0vjd0waksvl6n8n Green wallet too? Since they already have Lightning in beta phase, this would make sense?

Fernando 2y ago

Please where can I learn more about this? Thanks

Ivan 2y ago

I was brainstorming something like this weeks ago. My main use case is using Liquid as a stop gap until I have enough sats to have a bigger UTXO to go mainchain with. Using Boltz to swap from lightning to liquid when my channels are too full and need balancing. I would love a mobile wallet that had all this built in.

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Guy Swann 2y ago

Pretty good strategy for mitigating both the degree of trust and the fees for getting on BTC, imo. Im going to start playing around with liquid more

dr.fred 2y ago

sounds very complicated

and every time you switch to another network, you pay fees

i use monero, low fees, privacy and very easy

Guy Swann 2y ago

It ain’t a scaling solution. The only reason it has low fees is because so few people use it. It runs into all the same problems plus more if it was dealing with the size of the ecosystem that bitcoin is dealing with.

BKMiner 2y ago

Agreed I also diversify into LBTC because I’m not a techy guy and LBTC on blockstream green + jade is very easy for user like mine but also have some deep fear that when they came into the spotlight, regulators will hunt them down and causing trouble (but this fear might stem from the fact that I’m not fully understands how liquid network works, so now I think its the same as let blockstream custody my coins 😅)