pull down to refresh
243 sats \ 9 replies \ @Zepasta 23 Nov 2023 freebie \ on: [ POLL ] Is wBTC good or bad for ₿itcoin ? 🗳️ bitcoin
deleted by author
Yes ! A lot of things can go wrong. But the question is whether it's good or bad for Bitcoin. If it's bad for Bitcoin, in what ways?
reply
deleted by author
reply
It doesnt affect Bitcoin in any way shape of form
It must affect something. Or is it really a round zero?
reply
deleted by author
reply
Sure. But what effect does it have on the real bitcoins? I hope I'm not being misunderstood, I'm not taking sides, I'm just trying to understand the whole picture.
reply
I just said. It doesnt affect anything.
Bitcoin is its own thing completely seperated from that Wrapped BTC token.
During the Terra/Luna shitcoin crash, their Wrapped Bitcoin at one point was worth cents(now is at 0).
Bitcoin = Bitcoin
Wrapped Bitcoin = Shittoken on a shitcoin blockchain trying to mimic Bitcoin price.
In theory for every 1 Wrapped BTC, there must be 1 real BTC. But its a centralized entity that holds the real btc and mints the wrapped ones. Its centralized.
Why would you want to hold fake btc instead of the real thing?
reply
I just said. It doesnt affect anything.
A high trading volume can have an impact on the value, both up and down.
reply
are you retarded?