Re:Coinbase to Suspend Trading in XRP
by FreeTrade on Tuesday December 29, 2020 @12:04AM
(#25566920)
The claim is not that Blockstream intended to profit from Lightning. Rather they used the promise of Lightning to throttle Bitcoin, in order to profit from Liquid.
Re:Coinbase to Suspend Trading in XRP
by kallewoof on Tuesday December 29, 2020 @01:48AM
(#25567407)
Nonsense. Liquid is directly dependent on Bitcoin's success.
And as has been stated before, Blockstream employees got a chunk of their pay check in bitcoin. Do you really think they'd try to "throttle" their own livelihood?
Okay, how are they profiting from liquid? Moreover, what's liquid's "moat"? What's stopping me from copying liquid's software (seems to be open source) and making a clone that charges 0% fees?
>The claim, as far as understand it, is that Blockstream supported this plan, anticipating its failure, while working on its own replacement technology, Liquid.
I took a quick skim of blockstream's materials on liquid, and it sounds like it's something totally different to lightning? They describe it as some sort of ripple-like network for transacting in tokens? eg.
>Liquid uses an approach to consensus called Strong Federations. A Strong Federation removes the need for costly Proof of Work mechanisms and replaces it with the collective actions of a group of mutually distrusting participants called functionaries.