The bullshit narrative of Liquid being pretty good and trustworthy because you don't need to trust Blockstream, and only have to trust the exchanges who would never collude against each other or the system...

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.

submitted by /u/jimbtc
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source https://www.reddit.com/r/btc/comments/9nudbg/the_bullshit_narrative_of_liquid_being_pretty/