Unpopular opinion

I am a user of Lightning, Bitcoin onchain and Liquid.

The routing fees on Ligtning are in some cases becoming horrible, especially on certain LSPs.

Lightning is fine to pay 100 sats, but to pay 100000 sats it already becomes much cheaper Liquid in many cases.

Fuck and it's so easy to use Liquid, no worries about channels, no worries about channel backups, no worries about incoming liquidity. Yes, it is federated and fedimint too, you have to accept certain tradeoffs.

I love Liquid network, I think it is tremendously undervalued.

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Discussion

So true. It’s on sidechain though, it’s really convenient when it comes to saving fees, and atomic swap on boltz or swapping to USDt only with Jade. I love it too⚡️

Bcash works well too lol

Liquid is just a bunch of IOUs

Bitcoiners who are complaining about the so called difficulty of LN with solutions like Phoenix or Breez existing are strange.

It is not complicated to handle a deposit limit on an account even for a grandma

Send 500k sats in phoenix 2000 sats, in Liquid 128 sats.

A great success yes.

Try with Cashapp it's even cheaper 🤡

The other day I wanted to gift someone some sats (not much, about 100,000)

How would you do it if you wanted them to have the bitcoin in a few years' time?

LN is just Bitcoin. 12 worlds literally.

Phoenix literally Just Worked for me (until they ran screaming out of the US market...)

Fiat also has 0 fees where I live

Comparing liquid with fiat is at the very least....

It should also be possible to use bitcoin without paying fees

Does ecash solve this? I feel like it might

Sending ecash within a mint has 0 fees. When you redeem ecash outside of the mint where it was created, then you incur lighting fees.

Nope it should absolutely not.

If something is "free" and you cheer for it then you are just a socialist I guess

I haven't had the time to look into either lately. I've been more concerned with the abuse and attacks on the main net.

I set up and ran the first lightning software release of Eclair. But quickly realized it would be a while before lightning would be fully usable, if at all.

I'm sure they will eventually get it all worked out. There's actually no rush. They just need to clean up and purify the mechanics and function of THE! Bitcoin protocol..🧡😊

It's funny the world of Bitcoiners, Bitcoiners attack other Bitcoiners for using scalability solutions they don't like.

I don't attack anyone for it, I like Lightning, I like Liquid, I like Fedimint, I like Cashu, just each solution has different use cases.

Post: And I'm liking ARK a lot.

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At the end of the day, you do what works best for you. People will always have something to complain about. It's so tiresome

Totally agree.

I like it when people find something that works well for them and understands the risks. Good for you. The haters are gonna hate (hate hate hate hate) but I recommend you shake it off (shake shake shake shake)

Totally agree, as long as you understand how it works, the risks and trade-offs, it's a great tool!

Liquid does get overlooked, Fedimint is a similar decentralized protocol. Has its own pros/cons. There are no "perfect solutions" just tradeoffs.

Been learning about Cashu and Fedimint lately, looks interesting.

I have recently started to use Aqua and Liquid too.

There's no substitute for just diving in and trying these things out for yourself. ⚡

Question is how would fees look like when the traffic is similar as on LN

Good point, actually Liquid is not very scalable, and transactions take up a lot of space, although it is also true that since there is no consensus it would be very easy to increase the block size.

The struggle is Liquid is not Bitcoin. It’s a multisig with a completely separate blochain and a hope that you can get actual Bitcoin out when you ask, and the fact that you have to ask is the key problem. Lightning you do not. Doesn’t mean Liquid is evil, but people need to understand you can easily be rugged.

I totally agree with your words, however, the liquid structure is much safer than having bitcoin in an exchange, even from the point of view of suffering a catastrophe and losing funds is safer liquid than lightning.

You just have to understand the trade-offs and use it as a kind of cache.

I don’t think that is accurate. Lightning you hold keys to actual Bitcoin and can always unilaterally force it back to the Bitcoin base chain. Liquid you have no actual Bitcoin keys. You cannot force on chain. You have to ask permission to go onchain. You have an IOU on a totally separate and unrelated blockchain that federation can refuse to honor at any time. I don’t think that is more secure or more protective of loss.

Good convo! Liquid s centralization could become a risk , if and when it actually had heavy usage (not least because of recent gov actions...)

Agreed. It's nice you can do your own peg-ins but we really need the functionality to do your own peg-outs as well. Feels like a cash grab for certain individuals.

I love Liquid ❤️ After every DCA I withdraw into lightning then swap into liquid. Once I have a sizeable utxo I send it to cold storage.

I have saved loads on fees, I only make 1 on chain transaction every couple months.

In the end no one can choose the sacrifices you make but yourself.

No one can tell you otherwise.

payment channels are a distraction. payment channels are never going to be the general purpose scaling solution for everyone. use sidechains to hold yourself over until rollups are completed.

I tried aqua and thought, if I end up generating liquid transactions every time I use it whether it's for lightning invoices or not, why don't people just use liquid instead for now? then it reminded me of ETH sidechains. they were sold as a temporary solution until rollups are completed and people were very happy with that.

the ETH people played with state channels for like 10 minutes and decided that they were bullshit, then they built a sidechain similar to liquid that saw massive popularity, and now they are working on rollups. you can follow the same path.

A mechanism to create Lightning channels using Liquid is possible. A big LSP, or other node could create a bridge to the wider Lightning network. Thus, the user can have lower open/close fees.