Who's responsible for the software updates? Blockstream. Is there any sort of forking mechanism where an exchange could say "I don't want to run the new version" - what the heck would happen there? One would imagine they'd be black-balled by Blockstream.
What happens when authorities get involved and go to Blockstream and request either access or changes etc.. ? They've already tried to get Linus Torvalds to introduce backdoors into Linux, but as a man of character he refused. Do you guys think Adam Back is a man of character?
So you need to trust Blockstream (total centralization) and you need to trust the majority of the exchanges. Good luck with that.
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source https://www.reddit.com/r/btc/comments/9nudbg/the_bullshit_narrative_of_liquid_being_pretty/
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