People calling me a scammer when I'm not keeping any of the $AIPEPE coin for myself literally take money for NIP05 identification when you can do it for free. Case in point nostrplebs. And they have different packages. Wtf!

I did it for free on Nostr-Check

It is a really cool 😎 altcoin.

Saying it's the same as Bitcoin is the same as saying usdt (or usdc) is a dollar.

There is certainly value in the tradeoffs. I'm not denying that.

But Lbtc is not Bitcoin. The Bitcoin exists in the federations multisig wallet. The Lbtc is a receipt for that Bitcoin.

We talk about tradeoffs of trust;

I trust a Kabal of multinational corporations with my Bitcoin as much as I trust a bank with my dollars.

The reason why anyone can peg in but only members can peg out is because they need to control the possibility of a run on their Bitcoin-bank.

How much would I trust liquid? About a months salary. (My same level of trust for a legacy bank.

Hah, it’s not an altcoin, that’s a first.

It’s a 1:1 BTC peg/IOU - you lock up BTC in a 15 member multisig (similar to the Fedimint model) and unlock L-BTC for increased confidentiality and speed.

These Federation members are geographically dispersed and also run physical, custom hardware security modules (HSMs) attached to host servers (known as functionaries) to make them tamper proof.

Liquid doesn’t take away from Bitcoin network effects (like DOGE or other shitcoins) because it uses Bitcoin as its native currency. It actually does the opposite, it furthers hyperbitcoinization by allowing for Bitcoin to be a settlement currency for capital markets and assets like digital securities - see the El Salvador Volcano bond that is planned.

Liquid was also the first Bitcoin sidechain built by OG Bitcoin Core devs and continues to be 1:1 parity at all times with Core, unlike many alts or even other “L2s” like Rootstock, which is built on ETH and legitimizes scammy altcoins.

As you should know, everything is a trade off with Bitcoin, which is fully permissionless and decentralized. In a hyperbitcoinized world, where most retail txs will be on L2, it’s important to understand each and how you should ideally apply them to your stack.

Personally use Lightning for fast, small, low-cost micropayments with friends and Liquid for confidential, secure medium and large transactions (esp when trading, lending) or midterm hodling. Use both to save on fees.

Here’s a fair breakdown between bitcoin and other L2s and custody solutions:

Security: Bitcoin > Liquid > Lightning > Exchange

Trust/uncensorable/unseizable: Bitcoin > Lightning > Liquid > Exchange

Confidentiality: Liquid > Lightning > Bitcoin

Speed: Lightning > Liquid > Bitcoin

1) censorship: selective action like the ability to censor a certain UTXO on Liquid is mathematically impossible because you can't even identify outputs due to confidential transactions (which blind asset and asset type). They would need to know the UTXOs beforehand and even then you wouldn’t lose coins, it would just fail and you’d try again with a diff UTXO.

2) state: Liquid is resilient because the federation members (who custody the BTC multisig) are in multiple jurisdictions across the world and run physical HSMs, you literally have to go in-person to commandeer them and turn off. There’s also the Dynamic Federations upgrade last year which allows the Federation to add/remove entities to be able to peg-out (without them having to run functionaries/have HSMs), so in the event of a real globally coordinated state attack, there would be more options to peg out.

Hope this helps.