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@ goatmeal
2025-04-26 17:13:52
I trust the ethereum consensus mechanism more than I trust the liquid federation. the companies that run liquid can steal all the bitcoin and nothing in the protocol actually prevents them from doing that.
a person who holds ETH on L1 or Arbitrum or Base actually holds ETH. the optimistic rollups can't actually steal the ETH because there's unilateral exit.
A person who holds "liquid bitcoin" is holding an IOU with no unilateral exit. if all your money is in the liquid sidechain, congratulations, you don't own any bitcoin. you will own nothing and eat the bugs.
it would be nice if bitcoin had rollups. ark has been described as a "pseudo-rollup." ark will work much better if it has covenants. there are different flavors of ark, and the ones that don't use OP_CTV have user experience problems that will harm their adoption. it would be really stupid if the user experience of ark was worse than the user experience of Arbitrum