If wBTC really is BTC locked up in a smart contract, I'm actually more comfortable than most with this being "real".
There is some utility in being able to do everything on a single chain from a single address. I still think it's gross and they should have bought real Bitcoin, but I'm vaguely open to being proven wrong
what do you mean by “doing everything?” what more do you need to do besides use freedom money and save that value sovereignly over time? the only other “thing” you can be doing is shitcoining and rugging on a centrally controlled chain.
Yes. Those other things.
I'm not saying I approve of that other stuff. I'm saying if you wanted to do "all of the above" (including buy BTC via shit chain) then it makes strategic sense to minimize chain operations and use a single (ethereum) address.
Also: I can be a Bitcoin maxi while also accepting that Ethereum isn't a "centrally controlled chain". PoS is inferior to PoW for the purpose of building sound money, but Ethereum is still decentralized.
the Ethereum Foundation has literally forked the chain in the past to “undo” transactions they didn’t like. it’s a centralized chain lmao.
Open source software forks. That's kind of the point. It's up to the users to follow or not. You know Bitcoin has done the same right?
I'd argue that there is less utility.
Why is that?
Because why would you want to swap out of bitcoin? It is pristine permanent capital. There is no reason to trade it.
For liquidity in a bullshit casino where you hope to 10x and then swap back into even more Bitcoin?
I'm not saying I recommend it, but it's not a foregone conclusion that it's the root of all evil.
You might equally say to Saylor: "why bother with all this equity and dollar shit, just buy Bitcoin with what's in your pockets". This isn't to say that Saylor is the ideal model, but maybe you see my point.
Because you have to trust ethereum and that is never a good idea. There is nothing good about wrapped Bitcoin and you trying to justify it looks like saylor fanboy cope
I don't even disagree with the sentiment of the first half of your comment. I'm just trying to see the silver lining of "it could have been worse. there could have been no wBTC on the list". but i completely admit and lament that it could have been WAY better.
Saylor is useful for now and I can appreciate that. When he starts to become anti-useful (which I think will happen when too many normies start paying attention to him), I'll re-evaluate. This tweet of his isn't helping..
