Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: bitmover on February 01, 2024, 07:05:00 PM
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Following dkbit98 suggestion, I have been using L-BTC. I download aqua wallet (which is already integrated with lighting and L-BTC).
http://aquawallet.io/
(https://aquawallet.io/assets/images/aqua-phone.png?v=3668920f68)
Transactions are cheap and fast, and probably they are a good solution for high fees in long term.
I believe 2nd layer solutions will be the future of bitcoim network.
Have you ever tried it?
I added it to the donations page of my domain. I will soon update the balance Checker to check balance of L-BTC addresses as well
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Transactions are cheap and fast, and probably they are a good solution for high fees in long term.
I believe 2nd layer solutions will be the future of bitcoim network.
Have you ever tried it?
I know Liquid Network is a Layer-2 solution for Bitcoin, but I have never used it. Currently Lightning Network and SegWit are my favorite options when wanting to move BTC, it does not require Wrapping to another form such as L-BTC.
I will wait for other users' responses to know the advantages of L-BTC. Lower transaction fees, higher speed are definitely things to come, I want to know the development of the ecosystem that Liquid Network is building. Layer-2 on Ethereum is growing, the opportunity for Layer-2 projects on Bitcoin is huge :D
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Layer-2 on Ethereum is growing, the opportunity for Layer-2 projects on Bitcoin is huge :D
There is no doubt in that, L2 projects for BTC will streamline the adoption, those who have left BTC as a payment method will adopt it again and the volume in BTC will automatically increase. Till now I have read almost 3 different ideas about L2 solutions for BTC. One was on another forum, where the OP proposed that our current BTC will be staked, (HOW?) that's another thing. But after staking, we will be given money of equal worth.
And we can use that wrapped form of BTC on L2 of ETH, while we will be making profit from that staking as well, i.e. we will be making some token (utility token of the project) but this makes the whole thing centralized. I think we should give this wallet some time, as it is new and even if we are using it, we should not hold big amounts on it.
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I added it to the donations page of my domain. I will soon update the balance Checker to check balance of L-BTC addresses as well
Thank you for working on adding support for Liquid network ;)
I don't claim this is perfect solution or that everyone should permanently switch from Bitcoin mainnet to any federated layer, but I think this is good middle solution between Lightning and on-chain Bitcoin.
Just be careful with fees when sending coins from different networks or LN.
And we can use that wrapped form of BTC on L2 of ETH, while we will be making profit from that staking as well, i.e. we will be making some token (utility token of the project) but this makes the whole thing centralized. I think we should give this wallet some time, as it is new and even if we are using it, we should not hold big amounts on it.
Sureeee... that is one of the reasons we see so many hacks and scams, because of this fake bitcoins on ethereum earning ponzi shemes with high yield returns.
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I will wait for other users' responses to know the advantages of L-BTC. Lower transaction fees, higher speed are definitely things to come, I want to know the development of the ecosystem that Liquid Network is building. Layer-2 on Ethereum is growing, the opportunity for Layer-2 projects on Bitcoin is huge :D
Hmm, I was also kind of expecting such a DeFi ecosystem for the Bitcoin as well, but it seems like the dominance of the ETH on the DeFi is overwhelming and there's no doubt that ETH will continue this legacy at least for a couple of years, I use to read many of the BIP's and some other discussion related to the Bitcoin ecosystem but the Old-Bitcoiners always use to interrupt based on zero compromises to the network.
This is kind of acceptable and nonacceptable as well, as caring should be always opposed but to achieve ultimate efficient the evolution is important.