This is how I make my "liccy"
First I buy the cheapest sliced loaf going(smart price or similar), not only because I'm tight but I think it liquidises better.
Cut off all the crusts and leave the bread to stand for 1/2 hour or so to take the freshness off. Then just whack it in the blender 1/4 slice at a time until you get fine bread crumbs.Put in plastic bags, squeeze most (not all) of the air out and store in the freezer.You can add flavour at the bagging stage but I don't bother.
I tend to bag in batches of say 10 slices and do two or three loafs in one go.
wether or not I add anything to it to feed depends on the depth/flow.
In shallow still water up to say 4-5 feet I will not add anything, just empty a bag into a bait box and moisten slightly by just dipping your hand in the lake and and swish it round in the crumb. To feed i form golf ball size balls, not too firm, just enough to get it near the bottom before it breaks up.
In deeper water or flow I will mix the bread with a bit of groundbait, usualy supercup or similar. Make sure you mix the groundbait on its own first though before adding to the bread.