Bitcoin Forum

any ideas on how DeFi 2.0 will progress? 

BTC has been wrapped into ETH and into smart contracts what is the next steps?

Huobi just posted they will be launching Defi 2.0:

At the POW'ER 2020 DEFI Innovator Conference, Huobi Global CEO, Livio Weng, explains #DeFi 2.0 and the steps to advance the decentralized ecosystem. We will launch a set of crypto assets including HBTC, HBCH, HDOT, HLTC, HBSV, HEOS, and more!

https://twitter.com/HuobiGlobal/status/1310432259527208962 (https://twitter.com/HuobiGlobal/status/1310432259527208962)

This could really help push Bitcoin to the next level.

I think that topics about DeFi belong to the Altcoin Discussion forum.
Nah,DeFi can't push Bitcoin to the next level.To me,DeFi is just another buzzword and will build temporary hype around ethereum,just because it sounds cool and innovative.
All those HBTC,HLTC,HBSV,HBCH are just tokens backed by BTC,BCH,LTC and BSV,right?
I usually don't trust tokens,which are backed by other cryptocurrencies.

Just a heads up: There is technically no bitcoin in the Ethereum network. By converting your BTC to wBTC(wrapped bitcoin), you're merely just handing over your bitcoin to a custodial service, and that custodial service hands you over some token that just has bitcoin in it's name.

There is only one bitcoin and it has been there for the last 10 years. All the Bitcoin 2.0 and DeFi crap have no value they add to bitcoin. They are just tokens minted out of air posing as "tokenized BTC" and as soon as the hype dies down they will be no more bitcoin will still remain there.

Do not be lied into exchanging your valuable bitcoins to centralized tokens that can die out anytime. The shitcoin creators will get away with your BTC while you will remain holding bags of shitcoin.

What is the difference between HBTC with WBTC? AFAIK WBTC also running in Ethereum network, transact on DEXs  and collateralized with 1 Bitcoin. Does it mean WBTC still in DeFi 1.0, while HBTC is upgraded to DeFi 2.0?

I am not getting the point of how it would push bitcoin to the next level? There would be DeFi 2 or more versions, but everyone is looking for their own profits. That's how just a couple of shitcoin will be in the markets. Whatever modifying the name/symbols, just keep in mind when you are moving from the bitcoin blockchain means you are entering into a shitcoin or token. Bitcoin always is bitcoin, by creating lots of shitcoins either its DeFi or CeFi wouldn't push bitcoin into the next level. I am wondering why Huobi wants to create multiple coins/tokens? I don't know when and how the DeFi trend will be ended up eventually.

What exactly is the 2.0 change from 1.0? That it will become even more centralized? So what Bitcoin wrapped in ETH? You can wrap BTC in anything if you want how does this make it special? I think people need to stop going along with the industry and start waking up,,, I am not saying all Defi is bad but come on guys. All the scandals coming up. And all the private chats being leaked. Does it not tell you people are scamming?

DeFi developers take advantage of a trending moment to trap fish in a trap. I will not give my Bitcoin to centralized shitcoin developers. Big risks will await you if you exchange your bitcoins for tokens that can die at any time.

I think many people confuse that wBTC isn't BTC ?

I assumed that wBTC was just wrapped BTC on ETH network.

I don't think there is anything wrong with that ETH network is very stable.

DeFi 2.0 is helping Bitcoin not a henerance.

IMO I think Huobi doing HBTC etc... is good for pushing the industry forward.

It just another L2 solutions, nothing new, nothing interesting. Even LN is more innovative than this

every era there must be progress and development of each. who knows, that later the btc that we use today will be shaped like this and maybe it will be easier to implement to the mainstream

Although such btc tokens are already available but still it is good that big projects are launching  support products to really make it easy for everyone to take advantage of the defi ecosystem in a hassle free way.
All these developments will help in the adoption of defi as  everyone will be able to make some returns on their holdings.

Nah, I don't think so defi is too good at the moment. But really Looking towards Huobi, they have very good team and a proven track record.

DEFI V1 hasn't died yet but they are up to V2 already. The CEX are up to it too so we all have the chance to join their pool as well?

Its a good opportunity for the big exchanges to seize this DEFI trend. I'm surprised the innovative users in crypto are getting more innovative and yet some users think it will last in a few weeks. This is a series of DEFI innovation, I think it won't just quickly die all because we hope it would. Not when big exchanges like are up to develop more of it and are joining to further develop it.

RSK was the closest to developing a platform on bitcoin that could compete with most of the technology in the space, have asked from different rootstock channels to defend the purpose of the project, they mention few projects that latter exited. I consider developers of HBTC to be looking for attractive idea to steal into Defi market with bitcoin as top coin. They have always struggled to have a breakthrough and some are bad in making the hype for their projects in the market.

Just looking for another way to hype Defi, if I may ask, what actually happened to Defi 1.0? Well, I think the hype has died down and now in order to keep the profits rolling in, Defi 2.0 will come to play. To make it more funny, there will be hardly any difference between the two versions, hence I don't see the need for it. As for Bitcoin, it will continue ruling and I don't think it needs the help of Defi 2.0 to achieve that. However, all these Defi of a thing, only few are actually legit while others are just a way to enrich the team and a means to cash out.

Bitcoin cannot be in the form of another altcoin, you can trade bitcoin to another coin and that's named after bitcoin which we knew that many are existing such as forks and other bitcoin names inspired altcoins.

It's kind of misleading to look for those projects that are saying they're actually tied up to bitcoin or there's another version of it just like this 2.0. Those are all common misleading information about bitcoin.

They give misleading information to create another hype, bitcoin is bitcoin and its not part of the altcoins community so if you guys think Bitcoin will upgrade to 2.0, this is not true. Anyway, they are creating another hype on DeFi projects and maybe they are following the 2.0 upgrade of ETH this can be good for them and I also hope they can address the fees so investors wont lose much money paying fees for a slower transactions.

..Except that wBTC isn't really "decentralized" in any way whatsoever despite them calling it "decentralized" finance or "defi". You're leaving your BTC to a custodial service in exchange for a token that's just named wBTC, that's really not BTC.

It's going too much if they're also including and using bitcoin for the hype. Bitcoin won't be like that and it's just all about these developers who are causing something to stir with bitcoin and altcoins for this 2.0.

Ethereum is the one that's going to have 2.0, just in case folks aren't aware of it. But for bitcoin, it will never happen.

Don't believe with this 2.0 for bitcoin, this isn't happening for the actual bitcoin, the king of cryptocurrencies.

BTC is not connected to any smart contract as far as I know and there’s no upgrade for bitcoin so don’t include Btc on the hype of DeFi project because investors know the difference of altcoins and bitcoin. There’s a recent hype on DeFi and since its slowly fading, now they are using the name of BTC to have this hype again, this is alarming.