Right now, $1 bil btc is already "wrapped" (WBTC).
There is no such thing as WBTC....
I mean that WBTC is not BTC... So don't get fooled by what they are calling it. It is a fucking token.
So, who fucking cares if the WBTC managers call their token a BTC variant - because BTC, it is not.
Just for clarification, this is how it works.
You give WBTC managers your BTC (if you are that fucking stupid) and they keep your BTC while giving you a voucher. What the fuck kind of threat is that, exactly?
You have been reading too many sharding papers, Biodom.
right...and what would happen if instead of $1bil some "btc holding fools" will give WBTC managers $20bil or more?
If someone has not already started a thread on the topic, then maybe you should/ Or maybe someone reading this will be inspired to start such a thread and to outline the multiple reasons why such a threat to BTC exists.
It seems a bit off topic here, but maybe you believe that the threat is the "flippening?" BTC is not secure because they are all being sent to WBTC managers? Currently, $20 Billion is about 10% of BTC's supply.. so that could be a threat to BTC, right? According to you, right? So if they have 10%, then they would have 2.1 million BTC (or 1.8 million BTC) that they could dump, right?
I do understand that fractional reserve of bitcoin is a kind of threat to bitcoin, but it also seems that if we get all worked up about speculative threats, then aren't we just FUDding?
There are threads about Tether threats, and there are threads about fractional reserve and there are threads about mining centralization... and there are threads about the rising number of stable coins, so we can combine these various FUD threats and make our lil selfies really scared, right?
Whatchagonna do? Sell your BTC? Buy less BTC? Don't fight the ETHheads and the DEFI nutjobs, and join them - by buying eth and some of the other various shit-tokens that are currently blowing up in the space?
Is this FOMO coming from you, Biodom about missing out on the 2020 versions of the 2017 ICOs and the other creative ways of attacking bitcoin or deluding the whole crypto space? And you believe that bitcoin gives any shits or is going to be fundamentally damaged by the various baloney schemes that are out there? yes, some people are going to give up their BTC for nonsense, and even some exchanges such as coinbase (and perhaps some others) are going to wrap themselves balls deep into various scam projects, and coinbase is not bitcoin, even if they might get themselves and their BTC holdings into trouble by engaging in ongoing reckless and scamming and scheming behaviors, maybe even being endorsed by banks and by governments? Who fucking cares? They are all getting desperate to attack bitcoin, so sure, whatchagonna do? BTC price is going down? you going to sell? Good luck.
I think that you two are somewhat ignorant of the threat, perhaps?
Seems to me that you are exaggerating the purported threat. We have been told about a lot of threats over the years, and you believe that this particular purported threat has some kind of greater import because you happen to be concerned about it at the moment (more concerned than you are about BIG blocker propaganda because this particular threat is a "current" threat?)