At least WBTC is redeemable for the real thing
Discussion
Maybe yes maybe not 😁
WBTC on Solana is redeemable for WBTC on Ethereum, not for the real thing. A portal bridge hack kills all WBTC on Solana in one fell swoop. Very different conversation
Been playing a bit with #LBTC on #Liquid lately, even though fees are not so high right now, if we ever get sustained 25+ sat/vB, I'm all for using it to move smaller amounts cheaper than onchain...
Ofc don't hold your cold storage funds there, but short-term storage, I don't see a problem.
Right - we can't just decide every implementation is bad.
That screengrab from OP does show a lot of coins that are not BTC or representations of BTC. WBTC is just BTC custodied by BitGo. We could do way worse.