There are no channels in Aqua, it uses Boltz API to make swaps between Bitcoin, Liquid and Lightning.
It's going to be most useful for people in South America where USDt is already hugely popular. It's basically designed to bring those people into the Bitcoin ecosystem.
Without a unilateral exit mechanism, it's hard to call liquid a proper layer 2. Aside from the federation having a multisig address, no liquid users have any on-chain mechanism to return their funds to btc. You always require the permission of someone else for that.
Which isn't to say it's a scam or not useful. But on an honest, technical level it's really no different to a shitcoin. It just has a high level of trust because of who runs the federation
Thank you for your work! I'm actually looking for a comparison between Aqua and the Sideswap wallet. I was trying to use the instant Sideswap today but it seems that they now limit it to their wallet app. This is pretty disappointing to me, and I feel like it is a greater privacy concern.
What do you know about this service/app? Really I'm just trying to do USDT-L/lightning swaps without going through the trouble of Robosats.
Anything you can offer would be appreciated. Thank you!
love Aqua
Do you have to manage channels, or can you just try LBTC with a small amount sats?
There are no channels in Aqua, it uses Boltz API to make swaps between Bitcoin, Liquid and Lightning.
It's going to be most useful for people in South America where USDt is already hugely popular. It's basically designed to bring those people into the Bitcoin ecosystem.
Good point about no channels.
I love Boltz API, cheap way to convert from Bitcoin to Liquid to Lightning, etc.
As I know, you cannot do that in that shitcoin wallet.
Aqua is bitcoin and tether
🤣 Please, liquid and tether are shitcoins...
Liquid is a payment layer like lightning
Liquid is high quality shitcoin, LN is only 2 layer.
You can peg in and out of bitcoin using liquid
Without a unilateral exit mechanism, it's hard to call liquid a proper layer 2. Aside from the federation having a multisig address, no liquid users have any on-chain mechanism to return their funds to btc. You always require the permission of someone else for that.
Which isn't to say it's a scam or not useful. But on an honest, technical level it's really no different to a shitcoin. It just has a high level of trust because of who runs the federation
You can buy liquid on aqua, there is a minimum amount
Thank you for your work! I'm actually looking for a comparison between Aqua and the Sideswap wallet. I was trying to use the instant Sideswap today but it seems that they now limit it to their wallet app. This is pretty disappointing to me, and I feel like it is a greater privacy concern.
What do you know about this service/app? Really I'm just trying to do USDT-L/lightning swaps without going through the trouble of Robosats.
Anything you can offer would be appreciated. Thank you!
Yes yes good 👍
https://m.stacker.news/15934
Aqua wallet = shitcoin wallet
Tether, liquid...
Impressive breakdown, a bit hard to zoom out and digest it all but really cool.
To summarise - Sparrow is the GOAT?
That's a pretty nifty display they have for the comparison. Wish i could zoom out. In any case, I liked it a lot.