no, i’m not wrong.

Its only connection to bitcoin is that some implementations piggy back on lightning for interop, but that is optional. It doesn’t need to use bitcoin at all. You could have buttcoin tokens.

it’s just data that has no value, its just an entry in a non-bitcoin database. It’s a shitcoin.

It only becomes useful when you convert the worthless token to real bitcoin. Then you’re back in a territory which is more interesting to me

It’s the same reason i am not interested in wrapped bitcoin on ethereum. Because it’s not bitcoin.