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hodlpleb 11mo ago

Been thinking about the WBTC situation

Is WBTC any more/less BTC than holding in a custodian (Coinbase, etc)?

Is WBTC any more/less BTC than the lightning zaps?

(I do not know the answers to these questions)

All that being said, I do think it is #signal , though also a bit off that they did just go for the real thing.

#bitcoin

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Discussion

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TheWildHustle 11mo ago

WBTC is a shitcoin

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hodlpleb 11mo ago

If BitGo has the have the BTC in custody, is it different that holding BTC on Coinbase?

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TheWildHustle 11mo ago

If I buy chicken nuggets with 5k sats from Mcdonalds, is it different than holding 5k sats worth of BTC in strike?

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hodlpleb 11mo ago

It’s all an IOU and requires a level of trust until you self custody

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hodlpleb 11mo ago

Given the choice, I say that mainchain bitcoin is the only real bitcoin. Everything else (Lightning, Coinbase, ... wBTC, etc) is just a placeholder until you get it into a mainchain wallet.

#bitcoin