Wrapped Bitcoin [$WBTC] Explained



Wrapped Bitcoin (NOT AN ICO) is aiming to tokenise Bitcoin as an ERC-20 Token, allowing for benefits such as cheap and fast transactions What is Wrapped …

14 Comments

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    ⌚TIME JUMPS

    1:19 – What Is Wrapped Bitcoin?
    2:14 – How Does WBTC Work?
    3:07 – Supporting Projects
    4:37 – Advantages
    6:47 – Negatives
    8:38 – Conclusion

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  2. I will predict the future. The will "lost" all your BTC and you will end up with a WBTC crap. Not your keys, not your BTC. You will came to this message to cry in some years.
    And the same will happen to all idiots buying gold paper.

  3. i think its a fantastic idea. the more options the better. this is a global economy and and finding more ways to serve all those needs will always be a good thing. when shrading, proof of stake take hold, staking btc while also retaining its value is an amazing proposition

  4. with wanchain 3.0 that wiil be redy by the end of 2018 with be able to do btc to wbtc(wanchain bitcoin) in a decentralizade way not with bitgo and with all the benefits of wanchain blockchain like privaci protection(ring signatures monero stile)croschain transaction and alot more directly from your trezor on leger nano s

  5. Great video, thanks ! I think WBTC is a very good thing. Especially if Ethereum manages to scale, it could become a great mass adoption tool. It relieves pressure on the BTC blockchain and drives up the price with WBTC buying lots of bitcoin. It will still be kind of like a bank, so just don't put all your money there. Have most of your bitcoin on a wallet and a small amount of WBTC on an other wallet for day to day transactions.

  6. I love this project but I have some questions. How is this better than simply trading BTC to Ethereum? Does WBTC save on trading fees? I can see that would be convenient to institutional investors.

  7. If you could replace the custodian who transfers BTC into WBTC through a trustless sidechain it would be way better (similar to BTC liquid sidechain). Nonetheless the advantages using WBTC will be pointless in the near future.
    1. With lightning it'll be faster and cheaper to send BTC
    2+3. With cross-chain atomic swaps like COMIT it'll be possible to list any token on DEX which is capable of swaps (which is literally every token/coin) and dApps can use it as well.
    So it may be a good solution for the next or probably next two years but nothing which will be important for the ecosystem in the long term.

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