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In-Reply-To: <CAOoPuRasL-fmQJMfmF-JVyogdMy0EVKfhUAmT44DxQq--XCdKQ@mail.gmail.com>
References: <CAOoPuRasL-fmQJMfmF-JVyogdMy0EVKfhUAmT44DxQq--XCdKQ@mail.gmail.com>
Date: Tue, 13 Oct 2015 16:27:18 +0200
Message-ID: <CAOoPuRZ3Riu+KWXCS7no6ySzOh4ndQ203C0FCdmp1sebLC3B_g@mail.gmail.com>
From: Benjamin <benjamin.l.cordes@gmail.com>
Cc: Bitcoin Dev <bitcoin-dev@lists.linuxfoundation.org>
Content-Type: multipart/alternative; boundary=001a1134e7d84760680521fd3e69
Subject: Re: [bitcoin-dev] Liquid
Precedence: list

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p.s. the links

[1] https://blockstream.com/2015/10/12/introducing-liquid/
[2] www.coindesk.com/blockstream-commercial-sidechain-bitcoin-exchanges/

On Tue, Oct 13, 2015 at 4:25 PM, Benjamin <benjamin.l.cordes@gmail.com>
wrote:

> Hello all,
>
> I was very surprised to learn that Blockstream will implement Sidechains
> for exchanges [1], [2] and has been working on this privately. Can somebo=
dy
> explain this =E2=80=9Cannouncement=E2=80=9D? Just a few comments on this =
=E2=80=9Cproposal=E2=80=9D.
>
> =E2=80=9CThis new construction establishes a security profile inherently =
superior
> to existing methods of rapid transfer and settlement, and is directly
> applicable to other problems within existing financial institutions.=E2=
=80=9D
>
> First of all, what does Bitcoin have to do with existing financial
> institutions? Secondly, what in do you mean by =E2=80=9Crapid transfer=E2=
=80=9D and
> "settlement"? Bitcoin is anonymous, digital cash. There is no such thing =
as
> settlement, there is only the transfer of digital cash and that's it
> (settlement is a bad word for this kind of transfer of property). If you
> make up new terms define them accurately and don't play the
> crypto-buzzword-bingo game.
>
> =E2=80=9CThis, in addition to increasing the security of funds normally s=
ubject to
> explicit counterparty risk, fosters conditions that increase market
> liquidity and reduce capital requirements for on-blockchain business
> models.=E2=80=9D
>
> Again =E2=80=93 what does Bitcoin have to do with =E2=80=9Cmarket liquidi=
ty=E2=80=9D and =E2=80=9Ccapital
> requirements=E2=80=9D?
>
> =E2=80=9CBlockstream's innovative solutions are definitely a game changer=
 for the
> Bitcoin industry.=E2=80=9D
>
> Does Blockstream have commercial products now?
>
> "These initial launch partners include Bitfinex, BTCC, Kraken, Unocoin,
> and Xapo, and discussions are underway with another dozen major
> institutional traders and licensed exchanges. "
>
> ??? so many questions and no answers.
>
> Regards,
> Benjamin
>

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<div dir=3D"ltr">p.s. the links<div><br></div><div>[1]=C2=A0<a href=3D"http=
s://blockstream.com/2015/10/12/introducing-liquid/">https://blockstream.com=
/2015/10/12/introducing-liquid/</a><div>[2]=C2=A0<a href=3D"http://www.coin=
desk.com/blockstream-commercial-sidechain-bitcoin-exchanges/">www.coindesk.=
com/blockstream-commercial-sidechain-bitcoin-exchanges/</a></div></div></di=
v><div class=3D"gmail_extra"><br><div class=3D"gmail_quote">On Tue, Oct 13,=
 2015 at 4:25 PM, Benjamin <span dir=3D"ltr">&lt;<a href=3D"mailto:benjamin=
.l.cordes@gmail.com" target=3D"_blank">benjamin.l.cordes@gmail.com</a>&gt;<=
/span> wrote:<br><blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8=
ex;border-left:1px #ccc solid;padding-left:1ex"><div dir=3D"ltr"><div><div>=
Hello all,</div><div><br></div><div>I was very surprised to learn that Bloc=
kstream will implement Sidechains for exchanges [1], [2] and has been worki=
ng on this privately. Can somebody explain this =E2=80=9Cannouncement=E2=80=
=9D? Just a few comments on this =E2=80=9Cproposal=E2=80=9D.</div><div>=C2=
=A0</div><div>=E2=80=9CThis new construction establishes a security profile=
 inherently superior to existing methods of rapid transfer and settlement, =
and is directly applicable to other problems within existing financial inst=
itutions.=E2=80=9D</div><div><br></div><div>First of all, what does Bitcoin=
 have to do with existing financial institutions? Secondly, what in do you =
mean by =E2=80=9Crapid transfer=E2=80=9D and &quot;settlement&quot;? Bitcoi=
n is anonymous, digital cash. There is no such thing as settlement, there i=
s only the transfer of digital cash and that&#39;s it (settlement is a bad =
word for this kind of transfer of property). If you make up new terms defin=
e them accurately and don&#39;t play the crypto-buzzword-bingo game.</div><=
div><br></div><div>=E2=80=9CThis, in addition to increasing the security of=
 funds normally subject to explicit counterparty risk, fosters conditions t=
hat increase market liquidity and reduce capital requirements for on-blockc=
hain business models.=E2=80=9D</div><div><br></div><div>Again =E2=80=93 wha=
t does Bitcoin have to do with =E2=80=9Cmarket liquidity=E2=80=9D and =E2=
=80=9Ccapital requirements=E2=80=9D?</div><div><br></div><div>=E2=80=9CBloc=
kstream&#39;s innovative solutions are definitely a game changer for the Bi=
tcoin industry.=E2=80=9D</div><div><br></div><div>Does Blockstream have com=
mercial products now?</div><div><br></div><div>&quot;These initial launch p=
artners include Bitfinex, BTCC, Kraken, Unocoin, and Xapo, and discussions =
are underway with another dozen major institutional traders and licensed ex=
changes. &quot;</div></div><div><br></div><div>??? so many questions and no=
 answers.</div><div><br></div><div>Regards,</div><div>Benjamin</div></div>
</blockquote></div><br></div>

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