"Reducing the number of participants needed to extend the blockchain increases the speed and scalability of the system, while validation by all parties ensures integrity of the transaction history."
From the Elements documentation (https://elementsproject.org/how-it-works), on top of which Liquid (https://liquid.net/governance) is built upon. By definition, it is the antithesis of #bitcoin, as it employs centralization in the hands of a few companies.
Sure, they try to mask it with a layer of democracy on top (through their annual 3 Federation Boards re-election), but don’t be fooled. It’s a #bitcoin masked version of a FED.
Stop trying to come up with solutions to problems that don’t exist. #bitcoin and #lightning already solve the entire monetary system. The only thing that we’re currently missing is a decentralised marketplace which runs on #bitcoin. And that’s currently being tackled by either CivKit (https://github.com/civkit/paper/blob/main/civ_kit_paper.pdf) or similar projects.
Focus on the right tech and disregard the rest. Otherwise we’re wasting all our collective time.
bogdanzurac / Bogdan Zurac
npub1k5…wjkdv
2023-07-28 15:29:34
Author Public Key
npub1k5a4y6yfarc8p62xq0uae8jf3aa25mm5eptc20ysyfp0766ypmjsswjkdvPublished at
2023-07-28 15:29:34Event JSON
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"content": "\"Reducing the number of participants needed to extend the blockchain increases the speed and scalability of the system, while validation by all parties ensures integrity of the transaction history.\"\n\nFrom the Elements documentation (https://elementsproject.org/how-it-works), on top of which Liquid (https://liquid.net/governance) is built upon. By definition, it is the antithesis of #bitcoin, as it employs centralization in the hands of a few companies.\n\nSure, they try to mask it with a layer of democracy on top (through their annual 3 Federation Boards re-election), but don’t be fooled. It’s a #bitcoin masked version of a FED.\n\nStop trying to come up with solutions to problems that don’t exist. #bitcoin and #lightning already solve the entire monetary system. The only thing that we’re currently missing is a decentralised marketplace which runs on #bitcoin. And that’s currently being tackled by either CivKit (https://github.com/civkit/paper/blob/main/civ_kit_paper.pdf) or similar projects.\n\nFocus on the right tech and disregard the rest. Otherwise we’re wasting all our collective time.",
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