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nobody 2 years ago
Thanks for pointing this out! I used to think Liquid was as bad as an alt coin/blockchain and that the Jade/Green multi-sig was shady. But as I learned more my perspectives totally shifted... I appreciate the view you're coming from. Yes, trust is antithetical to Bitcoin. And giving over any trust should always be done extremely carefully. But there really isn't anything at 'absolute' zero trust. And getting to such a point is increasingly difficult the less tech savy one is. Exchanges, operating systems, hardware wallets, running software, running firmware, running kernels on your internet connection, running your laptop etc etc. It's technically challenging to eliminate all trust. Yet we ought to try. So... I appreciate that Liquid is at least transparent about its self to a high degree. It's an 11/15 sig trusted, federated side chain. Private, quick transactions, no KYC, low fees. And now this Watchmen is FOSS too and they do AMAs. Ok. Not bad. Yes, there is some trust involved here. And like the gold confiscation you pointed to, anytime you don't 100% own your keys outright, you're upping risk. But Liquid offers some attractive features for those *wanting and comfortable* with its risks. I think more and more federated sidechains will pop up in the future. Adam seems like he has a good reputation and isn't making Liquid to be anything It's not. So I'm good with that. Like lots of things in life... some things require cold storage, some lukewarm storage and others hot storage is fine. The BIP300 drivechain IMO creates an attack vector/surface for future ill intentions and is far more risky than some sidechain. Think... no one saw ordinals coming from Taproot. And they aren't exactly even nefarious. Now imagine what zooming coins in and out of the main chain might open up that we can't currently predict. Liquid isn't a replacement for L1. It's just a lukewarm storage option with some features.

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nobody 2 years ago
Thoughts? For anyone who's awake and willing. Re: Drivechain BIP300 vs Sidechains, and Liquid's Watchmen FOSS backdoor. View quoted note โ†’
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