Re: Everything you wanted to know about Bitcoin Strategic Reserve.
⭐ Merited by LoyceV (4)
Why would anyone buy WBTC, centrally controlled by Binance, who's owner was recently convicted in the US?
WBTC stands for (Wrapped Bitcoin).WBTC is regulated through a central institution. It is not decentralized like Bitcoin.
WBTC was originally created to bring the value of Bitcoin to the Ethereum network. It allows Bitcoin to be used on Ethereum's DeFi (Decentralized Finance) platform. With WBTC, users can participate in the lending, borrowing, and liquidity of the Ethereum network. Although it is not directly Bitcoin, it works with the same value as Bitcoin. So for those who want to work in the Ethereum ecosystem but enjoy the value of Bitcoin, this is an option. People can invest here because of all these reasons. As Coinbase responded to a lawsuit filed by Justin Sun-related company BIT Global. The lawsuit seeks an emergency injunction to place wBTC, Bitcoin's first and largest tokenized product, on the largest cryptocurrency exchange in the United States.
source: https://www.binance.com/en/square/post/17715089617249
In spite of your seemingly attempt at a dictionarial definition of WBTC (which I would imagine is likely largely within Loyce's already existing knowledge base, that bot), I doubt that too many longer term bitcoiners would consider that various kinds of bitcoin imitations, such as WBTC, work with the same value as bitcoin, even though sure technically you are correct that there is pegging of the value and there is likely as certain level that the third parties are holding of actual bitcoin in order to not overly screw up their own exposures that could end up blowing up in their dumb lil shitcoining faces in one direction or the other.
You (fredericktaylor) could also consider resizing your pics to a wee bit more reader-friendly (and less annoying) size.