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227 sats \ 2 replies \ @ek 9 Sep \ parent \ on: Is L-BTC a shitcoin? bitcoin

Yeah, afaict, the problems most stackers have with Liquid, Ark, Spark, ecash, etc. are not technical in nature. It’s mostly just about how something is marketed, because that’s where non-technical people can chime in the most (related to the Law of Triviality?).

I don’t think this leads to very interesting discussions, though. “Fake L2” is not a technical argument against something. It’s just an appeal to some authority (Justin) on what it means to be an L2, as if it matters more in practice what you call something than how you actually use it or what trade-offs it has.

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76 sats \ 1 reply \ @Scoresby OP 9 Sep
as if it matters more in practice what you call something than how you actually use it

In the case of Liquid most recently, I think it does matter. There were a number of wallets that claimed to be self-custodial bitcoin wallets, but which were liquid wallets. None of those work right now and if users have funds in them, the funds are somewhat fuzzy in nature.

I'll grant you the point on Fake L2s. Using that term wasn't useful.

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103 sats \ 0 replies \ @ek 9 Sep

I think they exploited a technicality: it’s self-custodial because you’re holding the keys to L-BTC, but that’s surely not how most users understood it, and they might have counted on that. If that’s the case: 100% fuck them. This is disgusting behavior.

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