/biz/ - Business & Finance

[Anonymous No.49954435]

why does bitcoin have to be wrapped? it makes everything confusing

[Anonymous No.49954463]

>>49954435
so the EVM doesn't get pregnat

[Anonymous No.49954477]

How would u surprise your nigger kids for Christmas if the Bitcoin is unwrapped?
Wrap it, gift it, let them unwrap.

[Anonymous No.49954529]

>>49954435
You won't need to wrap for much longer. Stacks and ICP are both working on native btc support for interaction with smart contracts. As I'm primarily a bitcoin holder I will use either of those chains over wbtc on eth as wbtc is centralized as fuck.

[Anonymous No.49954717]

>>49954435
>why does bitcoin have to be wrapped?
actually you dont have to since yesterday, you can bridge it over to Avalanche in a trustless way using their improved SGX bridge which has no custodian (unlike wBTC).
BTC.b is superior because of this.

[Anonymous No.49954751]

>>49954717
Sounds based. I'll look into this too.

[Anonymous No.49954922]

>>49954751
there are some nice yields for it too.
on platypus you can get up to 30% base APR for BTC.b in the alt pool and around 50% APY in the Trader Joe farm (Trader joe is like uniswap but better).

lending platforms like benqi, aave and yeti will soon roll out pools for it too.

[Anonymous No.49954954]

>>49954435
ICP solves this, you can sign BTC txs directly from your smart contract

[Anonymous No.49954977]

>>49954435
I can’t wait for quantum computing to kill bitcoin.

[Anonymous No.49954986]

>>49954717
Bridges are a massive security risk, that's why ICP's native BTC integration is superior

[Anonymous No.49955000]

>>49954986
>Bridges are a massive security risk
the Avalanche bridges are different, they use improved SGX technology.

[Anonymous No.49955002]

I never understood what wrapped tokens are

[Anonymous No.49955016]

>>49955002
ERC20 shitcoin that can be redeemed for the real thing.

[Anonymous No.49955036]

>>49955002
you wrap non native tokens into an ERC20 format so you can use them in Smart Contracts.
and this >>49955016

[Anonymous No.49955042]

>>49954435
oh look op subtly shilling icp

[Anonymous No.49955147]

This thread smells like shit

[Anonymous No.49955171]

>>49955147
A man of culture for sure

[Anonymous No.49955234]

Fellas, Imma make this very clear for you:
Ready?
As of now, there is no trustless BTC bridge.
Anyone that tells you otherwise is lying.

[Anonymous No.49955303]

>>49955234
>As of now, there is no trustless BTC bridge.
there is, see >>49954717

[Anonymous No.49955505]

>>49954435
You don't really own your Bitcoin if:

It's sitting on an exchange.
It's sitting on Celsius, Voyager, Blockchain, Paypal, etc
You own "wrapped Bitcoin"(wBTC) on some other blockchain like Ethereum or Solana.

Not your keys, not your Bitcoin.

[Anonymous No.49955623]

>>49955505
>Not your keys, not your Bitcoin.
thats where the AVAX/BTC Bridge is superior, there is no custodian!
you own the keys!

[Anonymous No.49955692]

>>49955623
What I said about wrapped bitcoin not belonging to you? it's simple as that.
What you want is to actually own your bitcoin on private key generated by yourself and that's it, that's the only true way to own bitcoin.

It's that simple.

[Anonymous No.49955707]

>>49955692
wBTC has a custodian, BTC.b does not.

[Anonymous No.49955796]

>>49955707
It Does not matter, you don't have to hold your bitcoins on some other blockchain of a coin created yesterday that doesn't even matter to anybody, how cuckued one must do to do that?

Just create your own private keys/seed and TRULY OWN your bitcoin offline, in that way there's no chance to security risks, that simple.
Got it now? I hope you did brainlet.

When shit hits the fun I'm pretty sure you will remember this and come right back here crying that you lost it all.

[Anonymous No.49955837]

>>49955796
>you don't have to hold your bitcoins on some other blockchain
if you want to earn some yield on it you do and that is the most trustless way possible, BTC.b is a gamechanger.

>Just create your own private keys/seed and TRULY OWN your bitcoin offline
I guess you can sit around and do nothing if thats your thing.
everyone else who wants to make profits in DeFi and with their BTC, thats the way.

[Anonymous No.49955914]

>>49954435
ponzu within a ponzi

[Anonymous No.49955925]

>>49954435
Requires a separate API to track transactions, introducing a non-zero element of error. Slowing feds down and filtering journeymen.

[Anonymous No.49955936]

>>49955837
That's fine if you want to take the risk of security to earn a few dollars in the short term, but it's up to you.
Hey! in the end you use your bitcoin as you like right?
But for long term storage and to 100% keep your bitcoin safe there's only one way.

If you are gambling your bitcoin on some retarded DeFi subject and you lost it all you will regret it miserably because let's say bitcoin do a good 100x from now and you lost 0.04 satoshis then that's $100k worth of Bitcoin you just lost.

You gotta think long term my friend, generational wealth, once in an lifetime thing.

[Anonymous No.49956974]

>>49955303
What part did you not understand?

[Anonymous No.49957054]

>>49955936
>Hey! in the end you use your bitcoin as you like right?
nothing wrong in having more usecases for Bitcoin.
>If you are gambling your bitcoin on some retarded DeFi subject
not all of DeFi is a scam and there is nothing wrong with earning some yield on your Bitcoin.

>But for long term storage and to 100% keep your bitcoin safe there's only one way.
yea sure I agree with that.

>>49956974
what part of "no Custodian" and "improved SGX" you dont understand?

[Anonymous No.49957164]

>>49957054
But my point is still on point, you still wont own it, and anything can happen with your wrapped up bitcoin bs "earning interest" imagine trusting some company overseas just because they got some shiny just fresh made website...
You're asking for it..

[Anonymous No.49957198]

Wrapped means you can use it on other networks. BTC has to be wrapped to do anything with it.

[Anonymous No.49957210]

>>49954435
jew scam

[Anonymous No.49957265]

>>49957198
Still you not owning it, because you want to own another network bullshit feature even tho your bitcoin can be sucked down by whoever is wrapping it and you lose it all.
What part you didn't hear "Not your keys not your bitcoin?"

And you can do plenty of things without having to trust some centralized feature to use your Bitcoin if that's what you want so much, spending the hardest money ever created.

[Anonymous No.49957271]

>>49955936
0.04 sats 100k calm down there

[Anonymous No.49957292]

>>49957271
That's 100x, not impossible for bitcoin.

[Anonymous No.49957302]

>>49957164
>you still wont own it
with BTC.b you actually do, nobody is the custodian of your keys. you have full control over your Bitcoin and no nigger can take it from you. your keys, your coins.
>and anything can happen with your wrapped up bitcoin bs "earning interest"
depends what DeFi you are using, like I said not all of it is a scam. of course if you are careless you are asking for trouble.

>>49957265
>even tho your bitcoin can be sucked down by whoever is wrapping it
not BTC.b
thats trustless thanks to SGX.

[Anonymous No.49957363]

>>49957302
There's only one way of owning bitcoin and no BTC.b or SGX or FCK or SCKDICK or 11SSSHITOCIN or FenoxFurry or whatever centralized feature will make it otherwise.

Wrapping not needed, simple as.
Good luck lose it all and being poor like the miserable shitcoiners LIKE YOU who just lost their entire networth on the recent Celsius and all the bullshit going on..
Stop shilling your Centralized bullshit I will never use it anyways you're wasting your time, faggot fuck, I wish I could scalp your face while you're alive.

[Anonymous No.49957374]

>>49957302
how is this more secure than icp canisters which act as a btc wallet and talk directly to the btc blockchain to process transactions?

[Anonymous No.49957402]

>>49957374
No centralized feature or company is "secure" you're putting your bitcoin at risk.

[Anonymous No.49957433]

>>49957363
>on the recent Celsius
thats CeFi and not DeFi.
>Stop shilling your Centralized bullshit
its DeFi, its decentralized.
maybe do your research first before sperging out over nothing.

>>49957374
>how is this more secure
it uses an improved version of Intel SGX, nobody but the SGX knows the secret sauce and its impossible to analyze or observe from outside.

[Anonymous No.49957489]

>>49957302
>thats trustless thanks to SGX.
do you know what SGX means? You're trusting:
- Intel
- 3 letter agencies to not try to interfere with the trusted SGX hardware
- hackers / SGX operators not to be malicious and use any of the 7 known SGX vulnerabilities listed on Wikipedia:
https://en.wikipedia.org/wiki/Software_Guard_Extensions

[Anonymous No.49957505]

>>49957489
what part of "improved" do you not understand?

[Anonymous No.49957530]

>>49957433
>it uses an improved version of Intel SGX
okay i'm asking how it's more secure than icp which will be talking directly with the btc mainnet from a btc wallet on a canister

[Anonymous No.49957535]

>>49957505
Get out of this board your shitcoin nigger, godamnit I hate you so much you're the jews destroying cryptocurrency as we know, you're here just to destroy bitcoin aren't you you paid shill piece of shit, you already got exposed I ain't wrapping my Bitcoin ever, GIVE UP!! PAJEET PAJEET PAJEET ALERT.

[Anonymous No.49957608]

>>49957530
how is your canister more secure than SGX?

>>49957489
here is more info about the bridge
https://youtu.be/bWfgzrQUXg4?t=1019

>>49957535
>you're here just to destroy bitcoin
BTC.b is improving Bitcoin and gives Bitcoin users more things to do with their coins without having to trust a 3rd party. you are in full control of your coins. what do you not understand about that? do you believe cryptography only works on Bitcoin or what?

>I ain't wrapping my Bitcoin ever
then dont?
whos forcing you? do I hold a gun to your head or something?
BUT if you want to wrap it and earn some good yield, BTC.b on Avalanche is the way to go.

[Anonymous No.49957642]

>>49957608
>how is your canister more secure than SGX?
there's no bridge. it's your btc wallet that talks to btc chain.
i mean it doesn't get much more secure than that.

[Anonymous No.49957673]

>>49957642
>wallet gets hacked
>all wrapped BTC of all users is fucked

[Anonymous No.49957685]

>>49957608
If you wrap your Bitcoin on whatever centralized going by"fancy cool name custodial" feature or company then you DO NOT OWN your bitcoin, it's simple as that.
Get over it. And stop repeating those names I wont ever use those, shiller.
You're worse than shitcoiners.

[Anonymous No.49957697]

>>49957685
>on whatever centralized going by"fancy cool name custodial" feature or company
BTC.b has no custodian and you own your Bitcoin.
simple as that.

>And stop repeating those names I wont ever use those
your loss, maybe someone smarter will.

[Anonymous No.49957705]

>>49957673
what do you mean all users?
it's your wallet. not everyone's. there won't be some hack where everyone's coins are stolen because it's not held by just one big wallet.

[Anonymous No.49957730]

>>49957705
>all users use the same wallet
>exploit is found
>all wallets have the same exploit
>???
>BTC drained
>F

[Anonymous No.49957765]

>>49957697
Good luck being poor and losing it all, shiller.
NIGGER, PAJEET, NIGGER AGAIN, FAGGOT...
You're evil my essence because you might actually brainwash one or two newcomers who don't understand shit about security, But as always it only last until the breakdown in which they all lose it all..
Mother nature is beautiful.

faggot.

[Anonymous No.49957776]

>>49957730
not how it works on icp where you need your identity anchor to access the coins

[Anonymous No.49957802]

>>49957765
is chimping out at things you have no clue about really a good use of your time?
maybe do some research instead, you dont even know the difference between DeFi and CeFi and talk about "newcomers".

>>49957776
>you need your identity anchor
it says thats tied to the browser lol.
probably not a big obstacle for dem hackers man.

[Anonymous No.49957841]

>>49957802
>it says thats tied to the browser lol.
>probably not a big obstacle for dem hackers man.
you're completely unaware of how icp cryptography works then as the entire browser is on chain

[Anonymous No.49957859]

>>49957776
you literally can use metamask to have an ICP wallet, or the better metamask called plug wallet

[Anonymous No.49957880]

>>49957859
let me know when metamask is supporting btc and anything retrieved from plug wallet is used in place of an identity anchor

[Anonymous No.49957967]

>>49957841
>you're completely unaware of how icp cryptography works
Doesnt sound safer than SGX which so far is the best way to build a bridge.

The Ethereum Avalanche Bridge (which has a similar design to the new BTC.b bridge) has been working for over a year without any issues, hacks or anything like that.
How long that ICP thing been out and how much money has it moved so far?
The AEB has moved like 1.3 billion USD so far

https://avascan.info/blockchain/c/bridge/0x50Ff3B278fCC70ec7A9465063d68029AB460eA04

Really neat tech overall.

[Anonymous No.49958050]

>>49957967
>build a bridge
there's no bridge

[Anonymous No.49958056]

>>49957054
>"no Custodian" "improved SGX"
>Bullshit
Ftfy

[Anonymous No.49958101]

>>49958050
Can you answer my question please?
>How long that ICP thing been out and how much money has it moved so far?

>>49958056
>doesnt know how SGX works
Basically nobody can fuck with the code or change it.

[Anonymous No.49958132]

>>49955000
>This time it's different, I swear

[Anonymous No.49958180]

>>49958132
Unlike the other bridges that get hacked all the time these SGX bridges are actually safe and the tech is already proven to work.

[Anonymous No.49958183]

>>49958101
you're not getting the part where ICP needs no bridge, and thus there's no need for extra complexity, like bridge operators and whatever other many points of failure your technology uses. Using BTC on ICP is as secure as using ICP on ICP, you literally have to hack the IC blockchain to hack any BTC. This isn't true for AVAX and BTC, this isn't really competition, it's several orders of magnitude above what AVAX is doing so questioning contingencies like how much has been moved through each technology makes no sense to begin with

[Anonymous No.49958211]

>>49958183
Why are you not answering my question?
Answer the question please.
>How long that ICP thing been out and how much money has it moved so far?

[Anonymous No.49958231]

>>49958211
i explained why on my post

[Anonymous No.49958249]

>>49958231
Thats not answering my question, can you just answer the question please?
Shouldnt be that hard.

[Anonymous No.49958387]

>>49958249
it's a discussion about which tech is better
no bridge and direct btc integration is safer and i've explained why it's safer
you haven't - just keep reciting the talking points

[Anonymous No.49958532]

>>49958387
>still refuses to answer the question

ok then let me do it for you.
>its not out yet
>has zero users
>has zero TVL moved

how can it be better if its not functional?

what would you even use the BTC for on ICP? is there even any DeFi?
https://defillama.com/
I couldnt find any here so seems like its a dead ghostchain.

[Anonymous No.49958613]

>>49958532
sgx is better because it's out?
so i guess when direct btc inegration and btc defi are released, with no bridges, on the icp then it's better
i mean it already is better but if that's your criteria then i'll see you on icp when you get the better tech to use
glad you're liking sgx for now

[Anonymous No.49958657]

>>49958532
XD
https://finterest.ooo
you'll be using this for native btc borrowing & lending in a few months when you sell your avax, cheers

[Anonymous No.49958721]

>>49958613
>sgx is better because it's out?
yes and the AEB already works perfectly fine for over a year, moved Billions of dollars, has thousands of users and wasnt hacked or in any way fucked with. in other words, this tech earned the trust and it works.

>i mean it already is better
no its not, again its not even out yet and has no users, has no DeFi and zero TVL so how can it be better?

>when you get the better tech to use
why should I? Avalanche already delivered years ago what ICP only dreams about.
basically too little too late. the chart basically says it all. how heavy are your bags?

>>49958657
>for btc borrowing & lending
>in a few months
lol

[Anonymous No.49958780]

Wrapping their Bitcoin is stupid and retarded, that's how eventually retards lose their money and I will be laughing my ass off saying: I told you so.

Not your keys not your bitcoin.

[Anonymous No.49959611]

FPBP

[Anonymous No.49959799]

>>49958780
Without any bridges or wrapping you can enter into a contract that says the tokens won't be yours under certain conditions but they're still technically yours until that happens.
As soon as you enter into any kind of contract the weakest link in securing your control of the asset is the contract. Doesn't mean you should never use one.

[Anonymous No.49961064]

>>49957292
no its not retard go read what a satoshi is

[Anonymous No.49962994]

Wrapped coins make sure they don't go off. Ever see those threads where people find unclaimed coins on the blockchain? Don't get cucked like so many others.

[Anonymous No.49963611]

holy fuck icp shills are desperate