Everything is a shitcoin, only Bitcoin is king. All these systems take your Bitcoin and you just trust them to get it back.
That's fine with me but what I'm not fine with is that these systems describe their internal shitcoin properties as if they translate to the properties of the Bitcoin they hold (remember: your Bitcoin).
Bitcoin maximalists should be wary: ok your shitcoin is non-custodial, who cares?
Everything I said above changes when we have an enforceable two-way peg. Until then we 100% rely on trust.
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