#Bitcoin #ETFs would most likely stake their holdings to cbBTC .. good or bad ? #askNostr
https://www.coinbase.com/blog/coinbase-wrapped-btc-cbbtc-is-now-live
Discussion
cbBTC aint BTC. It's a promise that u get your BTC back when u want to swap, but who says you will always be able to swap (for example during huge liquidation events)? Besides the obv KYC issue.
Yes .. from a purist perspective you are right .. but bitcoin ETFs are real ! Who would guarantee anything to ETF buyers :-)
True. Another bad: it's not about adoption as P2P-money, it's more about the SoV component. Bitcoin should be USED not only saved, because as a SoV it will be a playball for institutions to trade and manipulate the price. Wrapped shit is just not how it's supposed to be.
