New WBTC Token Could Be Good And Bad For Ethereum


On today’s episode of The Cryptoverse…
Today I have opted to go deep into one story rather than broad over many. The story I think is worth going a bit deeper into is this Ethereum based WBTC token which will be fully backed by Bitcoin, and may have wider implications for the whole economic model of Ethereum.

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●▬ Sources ▬▬▬▬▬▬▬▬▬▬▬▬▬▬●
BitGo Announces It Will Launch A Bitcoin Backed ERC20 Token On Ethereum In January 2019
https://blog.bitgo.com/introducing-wbtc-the-power-of-bitcoin-with-the-flexibility-of-erc20-48c6681a9a7c
https://coinmarketcap.com/currencies/ebtcnew/
https://www.wbtc.network/

New Protocol To Teleport Tokens From Ethereum To EOS
https://steemit.com/ethereum/@sheos/the-eos21-protocol-teleport-your-erc20-tokens-to-eos


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2018 has been an interesting year for crypto

Posted using Partiko Android

Hello, liquidity and adoption. Goodbye, scalability.

I thought a lot more projects would have migrated from eth to EOS by now. I wonder if they are all waiting for the easy teleport feature or resolution to the governance issues (REX).

Based on the number of projects struggling with throughout on ethereum, I expected more migrations by now.

Thanks Chris, another educational show. Why not just "tokenise" BTC using EOS. Faster, cheaper than using Ethereum - exactly as you say!!

Good question. Every new development has consequences. Some for the better some for the worse for once portfolio or strategy. I need to think a bit more about this. Thanks.

Your thumbnails are getting more funny! Thanks for the info! Peace!!!!

Crypto currency would be good in every run , long short and medium term I am with you

Any new experiment is good for all economy as it brings new models to 'experiment' and see how the markets fell ... also having any 'smart-contract' like will become able to duplicate this WBTC concept on any other chain having those ETH smart-contrasts processing capability's like ( EOS, NEO, NEM, ARK, ... HTML, WORBLY and so on and so on ... ) ... migrating tokens between chains would need all inter-chain trust so 'shEOS' project would create tokens in specif 'time interval' building an Big picture "Inter-Blockchain-Consensus" feeling?! a different trust applies for atomic swaps (but time related anyway=instant) that tokens/coins just jump/change owner wallets on the same side of one of the blockchains; and token holders and exchanges agreeing on all this timed consensus "risks" of double-spending in all the chains involved.

more stable coin stuff. interesting. I do like the EOS thing

That's a fascinating thing that WBTC is proposing to do and could become a good model for how coins from various popular chains could be used on the newer innovative chains, such as EOS. It's interesting that some of these projects put these coins in "cold storage" while others put them into a "black hole". What do you see as the advantages / disadvantages of each?

A last thought re the quintric, it's interesting that it wasn't on bitshares as a tradeable coin - I've seen Stan Larimer @Stan promoting it on @BlueRockTalk 's show (and @Stan calls himself the "godfather of bitshares" - which, I think, means he's a major witness/BP and innovator for bitshares). Could it be that there's just not enough circulating volume of the quintric coins yet for there to be trading pairs on bitshares? I don't know how all this works well enough to fully understand this - which is why I will likely take some of your courses when I have the time to devote to them :-)

thnx Chris for the show
how good is this wrapping for miners ??
is wrapping technology secure enough of hacking?

Excellent contribution, I'm still struggling on this platform, I hope someday to be as recognized as you. Greetings and my respects my support with my humble vote.

While this could provide value and flexibility, my concern would continue to be the lack of scalability of both networks and the potential fees to pay using these tokens. You also mention that BTC is a superior coin but I don’t think liquidity alone makes it superior. If so, why would BTC be needed in Ethereum? Not sure of the long term viability of a project like this...

Thank you for the information, this is very useful for us. Besides that, I still don't understand the predictions of degital currencies. I will study with you, hopefully you can discuss in the future about digital money information that is more trending

Thanks, Chris for another video! Mass adoption will come with that. About WBTC, time will tell if it is good or bad. Waiting for your next video :)

What I'm getting from this is it's all about BTC Bitcoin bitcoin. Bitcoin is unique and lays down a protocol and philosophy worth supporting and fulfilling. I like the potential of not needing a fiat peg. Stable coins are only finding their place now and are an interim step but are we already witnessing the genesis of a BTC wrapped type of stable coin? I don't like the KYC aspect of the BitGo thing. EOS/Dan Larimer fanboy.

Sounds great.. And if the transaction is easy as your telling than this is very beneficial to everyone. Let's see....!!!! Good luck. Hoping for the best . 😊

Still think Bitcoin is superior to Ethereum but I'm willing to let competitors fight it out.

I think you're onto something here with EOS. Whatever token it is, it would no longer be inflationary. It sill lets the miners mine BTC and be totally decentralized in that sense. But it also allows the simple transfer between parties to take advantage of the EOS delegated POS speed...

If you can figure out how the EOS BP's make money off this, you have yourself something verrrry interesting indeed.

Very good :)

@heimindanger is bigot trash who refers to people as "fag". Look at his comment history and you'll see just what a piece of shit he truly is!!

WBTC bad for ethereum.

hello,When can it be good And when will it be bad?

Thanks Chris, i really enjoyed this today. As everyday, your positivity keeps my Crypto Dream alive. Cheers matey!!!