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Liquid is non-custodial, involving distrusting participants across multiple jurisdictions globally, each holding their keys. No single member has full custody, enhancing security. Anyone can join the federation by actively contributing. Liquid also features blinded transactions, where only transaction fees are visible; amounts and addresses are blinded and require an unblinded key for access.

Transaction on liquid are instant with cheap fees of a few sats.

Saberhagen The Nameless 1y ago

Do you have sole ownership of your Bitcoin? No? Then it is custodial. You can dance around the nuances of how many people control your Bitcoin, but one thing that is sure is you do not. It's still custodial.

Now moving on to the nuances of custodianship...do we know the owners of these keys? No, we are just taking Blockstreams word for it. It could all be the same entity for all you know which is as good as a single custodian.

Unless this has recently changed AFAIK:

-the keyholders are not known for Liquid

-the keyholders are fixed and cannot be added onto

Liquid is still traceable even if you can't determine the asset type. It says this on their own website:

"The addresses of senders and receivers further remain visible as well and can be retraced like on the Bitcoin blockchain."

https://help.blockstream.com/hc/en-us/articles/900001390743-How-does-Liquid-keep-my-transaction-data-confidential

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Discussion

Welliv 1y ago

Your take on Liquid is misinformed and contain half-truths.

Liquid functionaries are publicly known, they can be added with their contribution to the network. Current tally is 15, following a recent addition (http://blog.liquid.net/nym-joins-the-%E2%80%A6)

Liquid is open source and fully auditable on the nostr:npub18d4r6wanxkyrdfjdrjqzj2ukua5cas669ew2g5w7lf4a8te7awzqey6lt3 so it's not accurate to say we're just taking nostr:npub1jg552aulj07skd6e7y2hu0vl5g8nl5jvfw8jhn6jpjk0vjd0waksvl6n8n word for it.

On traceability, while all transactions can be viewed via their transaction ID, only the parties involved and those with the blinding key can see the asset type & amount transacted. Even Liquid members or functionaries can't break the cryptography of Liquid’s Confidential Transactions. Therefore, claims that Liquid is fully traceable are misleading.

But it's a free market, and you're free to choose the solution you prefer. I encourage you to look into Liquid without being intellectually dishonest.

Saberhagen The Nameless 1y ago

That is why I prefaced with "AFAIK" because I'm open to being corrected...

Your link is returning a 404 page so I can't see it

Where did I dispute that Liquid is not open source?

Where am I disputing that amounts and asset type are not hidden? Seems like you are the one being intellectually dishonest. I'm not sure if you are confused or just don't understand the concept of sender and receiver privacy. Confidential Transactions don't hide sender and receivers, so it traceable, as shown above ON THEIR OWN WEBSITE.

Welliv 1y ago

Here's a new link;

https://blog.liquid.net/nym-joins-the-liquid-federation-ahead-of-bitcoin-halving/

I may have misread your intentions as being intellectually dishonest but ultimately is a free market and anyone can choose what they find ideal.