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Author Topic: [2020-01-16] BTCPay Server Integrates Liquid Network Support for Faster Bitcoin  (Read 183 times)
jdebunt (OP)
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January 16, 2020, 09:54:23 AM
 #1

Several noteworthy players in the cryptocurrency industry utilize the Liquid Network today. They include the likes of BTSE, Bitfinex, Bull Bitcoin, OKCoin, Poolin, and Xapo, to name a few. Bringing this technology to more people will be crucial, as it can help improve overall bitcoin adoption.



https://fintoism.com/news/cryptocurrency/btcpay-server-integrates-liquid-network-support-for-faster-bitcoin-transaction-settlements/
Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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January 16, 2020, 12:09:41 PM
 #2

I'm not too keen on Liquid myself. It's not Bitcoin and doesn't do anything to improve Bitcoin's transaction throughput. Less centralization should be the aim, not more.

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Bitcoin transfers on Liquid are fully settled within two minutes, allowing traders to move funds rapidly between exchanges and their own wallets without facing long, uncertain confirmation times.
From the Liquid siteRoll Eyes
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February 27, 2020, 06:16:22 AM
 #3

At this stage of bitcoin development, this is a justifiable measure.
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February 27, 2020, 08:38:32 PM
 #4

I'm not too keen on Liquid myself. It's not Bitcoin and doesn't do anything to improve Bitcoin's transaction throughput.

Couldn't you say that about any off-chain protocol -- even Lightning -- since they aren't Bitcoin, and don't improve its on-chain throughput?

If Liquid is cheap, fast, decently secure and interoperable with Bitcoin, that seems like a good thing for Bitcoin and its users.

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February 28, 2020, 12:57:22 AM
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 #5

@squatter. However, you are trusting the exchanges that issued the bitcoin tokens in Liquid to have the backing of real bitcoins. The bitcoins on the Lightning network does not require that type of trust.

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March 01, 2020, 10:44:04 AM
 #6

Couldn't you say that about any off-chain protocol -- even Lightning -- since they aren't Bitcoin, and don't improve its on-chain throughput?

If Liquid is cheap, fast, decently secure and interoperable with Bitcoin, that seems like a good thing for Bitcoin and its users.

It's more about the centralized aspect of Liquid. I can spin up a Lightning node and connect to others and start using Lightning without begging anyone for access to the network. In order to get access to Liquid you need to go to a central entity and beg them to sell you LBTC, and hope that you will be able to convert it back to Bitcoin at a later stage.

I can't recall what 'Bitcoiner' it was, but Liquid was advertised as a scaling solution for Bitcoin, which is retarded because that's not the case at all. The point basically was that Bitcoin itself is slow and expensive, but Liquid fixes that problem. Conflict of interest it reeks of.

The narrative keeps changing..... Bitcoin's goal was to end middlemen services, and what are we doing? Yeah, introduce more of them.
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March 01, 2020, 06:46:29 PM
Last edit: March 01, 2020, 06:58:53 PM by squatter
 #7

I can't recall what 'Bitcoiner' it was, but Liquid was advertised as a scaling solution for Bitcoin, which is retarded because that's not the case at all. The point basically was that Bitcoin itself is slow and expensive, but Liquid fixes that problem. Conflict of interest it reeks of.

The narrative keeps changing..... Bitcoin's goal was to end middlemen services, and what are we doing? Yeah, introduce more of them.

Bitcoin was intended to remove the need for intermediaries, but not every transaction people make requires Bitcoin's security guarantees. Liquid just gives people a cheaper and faster option if they don't need (or don't want to pay for) Bitcoin's on-chain security.

In those cases, using a federated model like Liquid seems better than a single point of failure like a Bitcoin exchange.

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