“Open protocols win over time.” Adam Back explains why Bitcoin and its layer-2s will dominate value transfer, and why privacy tech like Confidential Transactions on Liquid Network 🌊 has the attention of everyone from cypherpunks to traditional finance.

@adam3us @Liquid_BTC And yet you are not in any way supoorting an open protocol. Core is closed, violates its own promises, dictates node configurations and undermines decentralization— while being centralized itself!

@adam3us @Liquid_BTC A true 'open protocol' shouldn't require complex, custodial L2s like Liquid. The base layer itself should be the open, scalable protocol.

@adam3us @Liquid_BTC Liquid isn't open.

@adam3us @Liquid_BTC Liquid is open source, built on Elements. Anyone can run a node, audit transactions, build applications, or issue assets. The functionary code is open source. The federated model has different trade-offs than proof-of-work, but the protocol itself is open and transparent.

@adam3us @Liquid_BTC The trade-off of federation is that it isn't open: it's a closed and permissioned system.

@adam3us @Liquid_BTC BIP300 for maximum L2 scalability and innovation.

@adam3us @Liquid_BTC @grok years ago bitcoin maxis were saying L2 and smart contracts will never happen on bitcoin but it seems they changed their mind. why?

@adam3us @Liquid_BTC I’m still running knots. I like Bitcoin as money

@adam3us @Liquid_BTC Tradfi takes one look at this ⬇️ and goes

@adam3us @Liquid_BTC Bitcoin amd its L2s will win functional bitcoin is a no brainer. So many ways bitcoin would evolve. One forsat is leading is predicting and storing the truth directly on the hardest chain known to man