instead of putting federations in the heart of bitcoin, maybe we can be happy w architecture like this for now and focus on mechanisms that transcend federations nostr:note1jw2670d5ku03nk5aaunxd8jtxg30txtf05qupxydgz8jmds2pe2qcl7pvq
Discussion
Interesting idea
No
why
I don't really believe this is trustless, so many 'trustless' shitcoin contracts, bridges, (insert buzzword), ... got hacked or stolen somehow. In the end somebody still controls the key somehow.
Also, besides that, what's the point of putting btc on shitcoins that have their own scaling problems (or are trusted), if you use bitcoin on (ABC) you can also just use bitcoin on Liquid.
Also things like Fedimindt bring truly federated custody with the benefits of lightning and without the need of any tx fee token today.
There's a reason it's tbtc v2 https://www.coindesk.com/markets/2020/05/20/team-behind-bitcoin-backed-ethereum-token-tbtc-explains-shutdown/
yea they shouldn’t call it trustless, but it’s just another way of doing federations