Bitcoin Forum

Hello Friend.

A quick question about the coin: (Wrapped Bitcoin (WBTC), I see the price is quite patastis at the moment at the level: $ 10,714.91 USD, having touched a price of $ 40,826.50 in 2019.

Of course here has information, here where the coin comes from and operates on the Ethereum & Bitcoin platform.

Reference: https://coinmarketcap.com/currencies/wrapped-bitcoin/

My question:
1. Is (WBTC), feasible to invest in futures such as Bitcoin, What (WBTC) is the best coin right now, because I see (WBTC), it has touched the highest price in 2019. What is the best chance at this time to be bought and held for a while, maybe history will repeat itself.

What is the likelihood of this happening compared to the probability that this will happen in BTC or well-known Altcoins? If you really believe in the project, invest your money in it, but if you have the slightest doubt, it is dangerous to freeze your assets while waiting for history to repeat itself.

A lot of altcoins that rose to insane levels did so without the slightest indication of that, and therefore you should be lucky to let history repeat itself.

Personally, I think that any project using Bitcoin name is a waste of money in the long run.

This is just my personal opinion, with that price almost the same as BTC I would prefer to invest in BTC rather than WBTC, investing in altcoins at such prices is highly discouraged because altcoins are full of speculation, BTC too but the difference is supported by strong community.

That means the community, I usually, if you see a coin that is of good value, not, immediately make an investment decision, I am more likely to ask about these Altcoins, how much interest the community is in certain Altcoins.

Thanks, @hugeblack, @Strongkored, good advice, I will consider (WBTC), is it worth investing in or not.

I don't know why there is Bitcoin in the name of this coin, with 'wrapped' affixed before it, history like you said could repeat itself, but imo, it's pretty much better to invest in Bitcoin, you can be sure it'll appreciate in price past it's previous all time high in coming months. Ethereum also has good update with eth 2.0 about to be launched, prolly this year or next, and that launch may propel ethereum price very high, maybe even higher than it's ath of about $1,300. Of course you can still choose to invest in wrapped Bitcoins, but imo, there are better options than it.

Pump and dump is another factor, as you want to hold Wbtc 'for awhile', you may miss out on it's hype or it's pump and maybe get no other chance of ROI with Wbtc. Just my two cents mate.

The WBTC history could repeat itself. Or Bitcoin's 4-year cycle that's already repeated once - and that could bring in a price of $100k next year. Or maybe history won't repeat with either of them.

It's all just speculation and doubt. The thing is, that ATH you've mentioned was a price only few were probably able to cash out at at the time. A lot of people started a BTC buying spree when it hit $19-20k, and that led to big losses in their portfolios. I would rather own BTC instead, as it's the original form of Bitcoin. WBTC may be easier for trading, but it's much less safer.

WBTC represents Bitcoin and it is collateralized with 1 BTC. The purpose of the WBTC is to transact on DEXs on the ethereum network.
1 BTC and 1 WBTC have the same value. In the future, there will be many other blockchains covering Bitcoin, not just Ethereum.

This is good explanation. I would just like to add that you can lock up your BTC and receive WBTC. That way you can trade WBTC (which is in fact BTC) on decentralized exchanges that (currently) support only Erc20 tokens.

One more thing... WBTC is not special. There are plenty of wrapped coins. For example, in Uniswap you can't trade with ETH because ETH is not an Erc20 token. When you buy some token for ETH, your ETH is first converted to WETH (wrapped ETH) and then it gets swapped for token of your choice.

What can go up, can also go down. If this "stable coin" doesn't always stay on the price of Bitcoin, what stops it to also go way under the price of Bitcoin? Nothing. Would you risk that?

And have you seen what was the volume? If there was just one trade that was probably done by a mistake, you can´t anticipate that you will be able to sell WBTC for this price in the future. If you think, who and why would buy BTC for such high amount when you can buy it everywhere else for 4 times lower price.  :)

If WBTC smart contract does not contain any bugs, then WBTC price will always follow BTC price because they are the same thing, only on different network. BTC exists on Bitcoin network and WBTC exists on Ethereum network. In order to generate 1 WBTC you need to lock up exactly 1 BTC and you can't unlock that 1 BTC until 1 WBTC is destroyed. That's just like DAI is pegged to USD, xDAI is pegged to DAI and so on...

That would also be my opinion but if it's not about trading his bitcoin to wbtc and he's going to use his personal and spare money, that would be fine.
It's like another strategy of diversification as long as he'll maintain his btc holdings. I've also noticed that wbtc when it took a spot on the top coins. Looking into its charts, I'm confused as to why its price is not that much if its marketcap has increased very well.

The answer should be simple: Get the real thing, not the ERC20 token!

I dont see this. There is also no logic fro this to happen. WBTC price will be same as BTC as long as when cashing them out Bitcoins will be available. They cant be worth more. They can be less if for some reason Guy that created WBTC decide to not give you Bitcoins fro WBTC.

Exactly my opinion. Wrapped BTC are a token backed by real bitcoins. It's escrowed 1:1 with bitcoin. It's price would remain pegged with bitcoin, there could be slight changes in price which could be due to many reasons like exchange rates and transaction fees. The transaction fees things could play on both sides, one for redeeming bitcoin from wrapped btc would take fees, other wrapped BTC would mostly have a cheap fees hence it's usability would be much more than bitcoin itself for example in a ethereum dapp or dex, provided that the ethereum fees remains lower.

It's always and will never change.

TBH main reason we have WBTC not for avoided a high fee from BTC, but it's for decentralized exchange have some pair trading BTC on Decentralized Exchange running on Ethereum.

Back to the main question of this thread, this just a different price from some exchange when they don't have a good volume trading. And could be someone f*ck up just sold or converted WBTC into BTC with huge bags but using instant market so there has some gap between the order book & price. Well, this is not the first time some token/coin backup by asset has a different price, USDT also hit 0.5$/0.7$ too on the market.

Obviously I would pick Bitcoin if I have to choose between these two anyways as we know the main purpose of wbtc which does not look competitive to btc and the value of both are almost same but in the matter of total supply wbtc has lower supply which is absolutely a plus point for wbtc and it may be the reason of its price growth in future.