Bitcoin on Ethereum is Booming: Closing in on $1 Billion in Value

[Febo]

Bitcoin holders continue to move the value of their digital gold onto the Ethereum blockchain, defying recent price drops in both currencies.

You cant move Bitcoin onto the Ethereum blockchain. There are some people that gave 80000 Bitcoin for some token on Etehreum. Now they dont have Bitcoin anymore but have some token. Such things happens every single day on 100s of exchanges.

[bitgolden]

I have always said that never listen to people who will make profit from your moves. If someone tells you to make a move and in the end they will make a profit from it, you should not listen to them because they are not trying to help you, they are trying to make more money. This is the same for people who shill coins and tell you that one thing is "soooo awesome and will make you 100x profit" all usually end up having it themselves and that is why they suggest it.

In any case I keep telling myself not to believe other people who have incentives for me to make a move and trying to remind myself they want the best for themselves and not me. You should do the same, check what CZ said and see if he will make a profit from it, same goes for anyone who ever tells you anything.

[casperBGD]

In any case I keep telling myself not to believe other people who have incentives for me to make a move and trying to remind myself they want the best for themselves and not me. You should do the same, check what CZ said and see if he will make a profit from it, same goes for anyone who ever tells you anything.

agree, CZ is shilling on every project that is listed on Binance, and most of them are not thoroughly checked, look at Sushi for example
and then, CZ tweet as trading on cryptocurrency is highly risky, yes it is, but he is making money from your trading, do not forget it, and that is why he is shilling every listed project, and especially those that Binance acquired at the end

[r32godzilla]

Still, I would be very careful about all smart-contract made coins. Wrapped Bitcoin is an elegant way how to get Bitcoin on Ethereum network and get more functions like Yield farming, but we have been witnesses of many smart-contract hacks, so one day could happen, that all Wrapped Bitcoins will be stolen from the smart-contract by a bug in a smart-contract code.

[bobyhodob]

Still, I would be very careful about all smart-contract made coins. Wrapped Bitcoin is an elegant way how to get Bitcoin on Ethereum network and get more functions like Yield farming, but we have been witnesses of many smart-contract hacks, so one day could happen, that all Wrapped Bitcoins will be stolen from the smart-contract by a bug in a smart-contract code.

I think all cryptocurrencies do have a very high risk and your job as a trader is to always be aware of the various kinds of coins that exist because when you buy coins using the money you have no one can guarantee that you can get a profit, there is a loss in sight and that's the risk when the price collapses.

[Zeehaxan]

This sounds a little sarcastic to me because for the reasons the btc was wrapped in ethereum now eth network is facing the same scalability issues like high transaction fee and slow transfers so i think it would be better to wait for eth 2.0 to continue to wrap btc in eth.

[articlecity]

This trend will continue and will intensify after eth 2.0 lqunch and if btc grows to over 100k value then it will truly become an asset and people will use and store it even more on eth because of ease of transfer and storage.