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0 sats \ 2 replies \ @Rothbardian_fanatic 20 Jan \ parent \ on: Stacker Saloon
What is Wrapped Bitcoin
Wrapped Bitcoin (WBTC) is a tokenized version of Bitcoin (BTC) that operates on the Ethereum (ETH) blockchain. It adheres to the ERC-20 standard, which is the basic compatibility standard of the Ethereum blockchain. This compatibility allows WBTC to be fully integrated into Ethereum's ecosystem, including decentralized exchanges, crypto lending services, prediction markets, and other ERC-20-enabled decentralized finance (DeFi) applications. WBTC is backed by Bitcoin at a 1:1 ratio through a network of automatically monitored merchants and custodians. This aims to ensure that its price is pegged to Bitcoin and allows users to transfer liquidity between the BTC and ETH networks in a decentralized and autonomous manner. https://www.coinbase.com/price/wrapped-bitcoin
So, what is the problem here? It is nothing but a way to put BTC on the Ethereum blockchain for using in another way. Do you think that this is turning a BTC into an ishtcoin? What do you think?
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191 sats \ 1 reply \ @OneOneSeven 21 Jan
I think it's funny that they bought all this and no real bitcoin yet.
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30 sats \ 0 replies \ @Rothbardian_fanatic 21 Jan
Wow!!! They are a bunch of ishtcoiners!!! Weren’t they talking, big time, about BTC? That was a sudden about-face. I hadn’t seen this when I posted the above. A bit shocking, to say the least!
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