Subnostr

Every single Liquid advocator says the tRaDeoFf. But as you know, Not your keys, not your Bitcoin. You are telling me Liquid is not #Bitcoin without saying this.

Is it Bitcoin? is simple yes or no question.

The Daniel 🖖 2y ago

You said “your” bitcoin. Bitcoin is still bitcoin even if you don’t hold it. That’s like saying sats on nostr:npub1hcwcj72tlyk7thtyc8nq763vwrq5p2avnyeyrrlwxrzuvdl7j3usj4h9rq aren’t bitcoin. I don’t particularly like the tradeoff myself, and I don’t have a use for Liquid at the moment. nostr:npub1jg552aulj07skd6e7y2hu0vl5g8nl5jvfw8jhn6jpjk0vjd0waksvl6n8n sent me 20,000 sats to try it out, and I haven’t touched it since. It might provide some utility in the future, but the only way to HODL is on the base layer.

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Discussion

Gildong.Hong 2y ago

We call that Bitcoin IOU.

The Daniel 🖖 2y ago

Why do you care so much about something you clearly don’t use? Liquid is never going to be adopted by the plebs. It’s mainly going to be a utility for institutions. I know where I stand and where every one of my sats is.

getbackmybtc 2y ago

Even institutions just need to own real #bitcoin not alternatives…

If they cannot because of accounting problem, they would rather buy ETF not liquid even tho they are both IOU.

Why?

At least ETF would have strict regulations applied rather than liquid.

Gildong.Hong 2y ago

Thank you for moving on next phase.

As far as I know, Adam Back claims that plebs will need Liquid because of lack of Bitcoin's scaliability. By the way, why not Bitcoin for institutions?

I worry about Bitcoin becoming the past gold. Only few held their own physical gold, because it has physical limitation. I believe you know what EO6102 and Nixon shock are. Liquid reminds me these. I'm not talking about fractional reserve system.

And also Liquid is fragile. The more Liquid grown the more return for compromising Liquid. More distributed Liquid Fed is not an answer. I believe that we MUST find the real solution.