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0 sats \ 8 replies \ @0xbitcoiner OP 23 Nov 2023 \ parent \ on: [ POLL ] Is wBTC good or bad for ₿itcoin ? 🗳️ bitcoin
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?
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It doesnt affect Bitcoin in any way shape of form
It must affect something. Or is it really a round zero?
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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.
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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?
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I just said. It doesnt affect anything.
A high trading volume can have an impact on the value, both up and down.
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are you retarded?
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