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RE: The Crypto Digest #8 - Wrapped Bitcoin on Ethereum, Cyberattacks, The Simulation Argument ... and a Song!
Thanks @workin2005, yeah WBTC definitely an interesting concept but I wonder how much the creation of derivatives on top of Bitcoin might end up hurting its scarcity as an asset...
Valid point. It should increase liquidity, but can see how it may also increase perceived supply. Obviously backing it 1:1 to btc forces true scarcity to remain in tact....but we'll see how the market reacts.
Yeah, exciting times ahead regardless!