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Date: Tue, 13 Oct 2015 15:57:00 +0100
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From: Tier Nolan <tier.nolan@gmail.com>
Cc: Bitcoin Dev <bitcoin-dev@lists.linuxfoundation.org>
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Subject: Re: [bitcoin-dev] Liquid
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It is interesting someone trying the sidechain approach.
I guess having trusted third parties to manage the chain was not a short
term thing? It looks like there is no POW for the Liquid sidechain.
This is an area where the bitcoin could benefit by adding a way to transfer
money to/from sidechain without requiring third parties.
On Tue, Oct 13, 2015 at 3:27 PM, Benjamin via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:
> 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 someb=
ody
>> 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 =
subject
>> 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 liquid=
ity=E2=80=9D and =E2=80=9Ccapital
>> requirements=E2=80=9D?
>>
>> =E2=80=9CBlockstream's innovative solutions are definitely a game change=
r 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
>>
>
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
>
--001a11434ca281331d0521fda8f0
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<div dir=3D"ltr"><div><div>It is interesting someone trying the sidechain a=
pproach.<br><br></div>I guess having trusted third parties to manage the ch=
ain was not a short term thing?=C2=A0 It looks like there is no POW for the=
Liquid sidechain.<br><br></div><div>This is an area where the bitcoin coul=
d benefit by adding a way to transfer money to/from sidechain without requi=
ring third parties.<br></div></div><div class=3D"gmail_extra"><br><div clas=
s=3D"gmail_quote">On Tue, Oct 13, 2015 at 3:27 PM, Benjamin via bitcoin-dev=
<span dir=3D"ltr"><<a href=3D"mailto:bitcoin-dev@lists.linuxfoundation.=
org" target=3D"_blank">bitcoin-dev@lists.linuxfoundation.org</a>></span>=
wrote:<br><blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;bor=
der-left:1px #ccc solid;padding-left:1ex"><div dir=3D"ltr">p.s. the links<d=
iv><br></div><div>[1]=C2=A0<a href=3D"https://blockstream.com/2015/10/12/in=
troducing-liquid/" target=3D"_blank">https://blockstream.com/2015/10/12/int=
roducing-liquid/</a><div>[2]=C2=A0<a href=3D"http://www.coindesk.com/blocks=
tream-commercial-sidechain-bitcoin-exchanges/" target=3D"_blank">www.coinde=
sk.com/blockstream-commercial-sidechain-bitcoin-exchanges/</a></div></div><=
/div><div class=3D"HOEnZb"><div class=3D"h5"><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"><<a href=3D"mailto:benjamin.l.cordes@gmail.com" target=3D"_=
blank">benjamin.l.cordes@gmail.com</a>></span> wrote:<br><blockquote cla=
ss=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left:1px #ccc solid;pa=
dding-left:1ex"><div dir=3D"ltr"><div><div>Hello all,</div><div><br></div><=
div>I was very surprised to learn that Blockstream will implement Sidechain=
s 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.</div><div>=C2=A0</div><div>=E2=80=9CThis new c=
onstruction establishes a security profile inherently superior to existing =
methods of rapid transfer and settlement, and is directly applicable to oth=
er problems within existing financial institutions.=E2=80=9D</div><div><br>=
</div><div>First of all, what does Bitcoin have to do with existing financi=
al institutions? Secondly, what in do you mean by =E2=80=9Crapid transfer=
=E2=80=9D and "settlement"? Bitcoin is anonymous, digital cash. T=
here 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.</div><div><br></div><div>=E2=80=9CThi=
s, in addition to increasing the security of funds normally subject to expl=
icit counterparty risk, fosters conditions that increase market liquidity a=
nd reduce capital requirements for on-blockchain business models.=E2=80=9D<=
/div><div><br></div><div>Again =E2=80=93 what 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=9CBlockstream's innovative solutio=
ns are definitely a game changer for the Bitcoin industry.=E2=80=9D</div><d=
iv><br></div><div>Does Blockstream have commercial products now?</div><div>=
<br></div><div>"These initial launch partners include Bitfinex, BTCC, =
Kraken, Unocoin, and Xapo, and discussions are underway with another dozen =
major institutional traders and licensed exchanges. "</div></div><div>=
<br></div><div>??? so many questions and no answers.</div><div><br></div><d=
iv>Regards,</div><div>Benjamin</div></div>
</blockquote></div><br></div>
</div></div><br>_______________________________________________<br>
bitcoin-dev mailing list<br>
<a href=3D"mailto:bitcoin-dev@lists.linuxfoundation.org">bitcoin-dev@lists.=
linuxfoundation.org</a><br>
<a href=3D"https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev" =
rel=3D"noreferrer" target=3D"_blank">https://lists.linuxfoundation.org/mail=
man/listinfo/bitcoin-dev</a><br>
<br></blockquote></div><br></div>
--001a11434ca281331d0521fda8f0--
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