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0 sats \ 11 replies \ @Kathleen_Croteau 12 Feb \ parent \ on: Aqua Bitcoin wallet. Comparing with other 18 software wallets bitcoin
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.
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Good point about no channels.
I love Boltz API, cheap way to convert from Bitcoin to Liquid to Lightning, etc.
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You can buy liquid on aqua, there is a minimum amount
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Aqua is bitcoin and tether
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Liquid is a payment layer like lightning
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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
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