Quote from: suchmoon on Today at 04:48:26 AM

Quote from: squatter on Today at 03:22:08 AM

One reason to buy L-BTC instead: You can transfer it faster and more cheaply, assuming you're sending to compatible services. If someone is just buying coins to send to an exchange, then BTC might be slow and costly by comparison.

Considering that compatible services are nearly non-existent it looks like a trap. Perhaps if it was easily convertible both ways inside the app itself it would be ok I guess. Is it?

IIRC peg-out was possible only via exchanges, mostly centralized/KYC ones. If the app helps to overcome this - great, but I kinda doubt it.

BTW that disclaimer seems inadequate for what is essentially a custodial service.

Fair points, but it's worth pointing out that Liquid's security guarantees are significantly stronger than a traditional custodial service.

One of the problems I see is that Liquid is not really bootstrapped yet. The final goal is an actual peer-to-peer network built on top of Bitcoin that people use, P2P. Today, there is a lack of network liquidity -- there is little you can do with L-BTC -- so there is a focus on the need to peg out. In the future as network effect and markets grow -- reinforcing the ability to convert to other currencies via P2P markets or secondary services who interface with federation signers -- this will in theory become less and less important.