Xal0lex
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Activity: 2450
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January 02, 2023, 08:01:43 PM |
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I was curious that what is difference between the Wraped Coin vs Bitcoin. I still do not know clear about the Wrapped token but I think that Wrapping a coin allows it to be used on a non-native blockchain. Wrapping a token is essentially swapping one token for another token in an equal amount via a smart contract, or code on the blockchain that can store and send funds. but still I do not know the clear cut meaning and also use of The wrapped Tokens.
In simple terms, a bitcoin is a valuable asset, and a wrapped bitcoin is just a wrapper residing in another blockchain. In essence, you have exchanged your real bitcoins for fake ones and now you have opportunities to, for example, stake bitcoin in some DeFi pool. The only thing is that the risks associated with this activity are much higher than the profit you can get from this staking. When you exchange your bitcoins for wrapped bitcoins, you involve a third party in the process, and that's not safe. In general, bitcoin tokenization is unprofitable in the long run because bitcoins only get more expensive over time, but all sorts of pools and DeFi protocols often crash and get hacked. |
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In order to get the maximum amount of activity points possible, you just need to post once per day on average. Skipping days is OK as long as you maintain the average.
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TastyChillySauce00
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Leading Crypto Sports Betting & Casino Platform
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January 03, 2023, 01:14:10 AM |
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WBTC = Scam token
BTC = Real bitcoin runs on its native blockchain.
It doesn't matter how long you will be arguing about WBTC and the fact that WBTC was a scam token. The token gets its value from the trust of users. Once the funds that being used as reserved funds for WBTC would be stolen and then WBTC became garbage tokens. It's better to hold real bitcoin instead of using WBTC. Some people may not learn from what happened in the past when so many people were putting their money into the stable tokens and then it's gone like UST or anyother algorithmic token. Wrapped token has almost similar mechanism like stable token
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drac970815
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Activity: 33
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January 04, 2023, 04:46:43 AM |
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As I know wrapped bitcoin is not in the bitcoin blockchain.
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zasad@
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January 04, 2023, 11:49:31 AM |
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Why do I use WBTC? For decentralized trading. https://bitcointalk.org/index.php?topic=5389259I think that WBTC is not a scam because they store real BTC, but there are risks of blocking. For me, using centralized exchanges is considered a big risk, so I find it easier to use WBTC for trading. But I do not recommend storing these tokens for the long term. |
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el kaka22
Legendary
 Online
Activity: 3514
Merit: 1162
www.Crypto.Games: Multiple coins, multiple games
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January 04, 2023, 05:06:51 PM |
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First of all, a wrapped bitcoin won't get you pregnant, lol. But aside from the joke it is just a method to bring bitcoin into other chains, it is not really bitcoin, but how could you trade bitcoin itself on Bep20 for example, you can't and in order to do that, you have to trade wrapped bitcoin. That's really it, but if you are that much interested in bitcoin then go do it with the real one, or if you are really interested in bnb and its tokens then do that, do not bring that into each other if you ask me.
Never made that much sense, you can't even properly take it out that way neither which would cause a lot of trouble during the transaction period as well, not really too smart.
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coinerer
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January 04, 2023, 05:45:18 PM |
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Wrapped Bitcoin is not original Bitcoin which is develop my Satoshi nakamoto . It is controlled by an organization and its price is kept in line with the original Bitcoin . And it is also believed to be used as true Bitcoin. And it allows everyone to transact Bitcoin through different chain like Ethereum, binance smart chain, Solana , polygon etc. This is basically how it works and we can use it constantly just like real Bitcoin. And every exchange and different organizations accept and give chance to exchange it as true Bitcoin.
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nullama
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January 05, 2023, 01:05:08 PM |
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Wrapped Bitcoin is not original Bitcoin which is develop my Satoshi nakamoto . It is controlled by an organization and its price is kept in line with the original Bitcoin . And it is also believed to be used as true Bitcoin. And it allows everyone to transact Bitcoin through different chain like Ethereum, binance smart chain, Solana , polygon etc. This is basically how it works and we can use it constantly just like real Bitcoin. And every exchange and different organizations accept and give chance to exchange it as true Bitcoin.
"Wrapped Bitcoin" is not used as true Bitcoin, it's just a token that follows the price of Bitcoin. You can buy Bitcoin using any kind of payment, fiat, altcoins, etc. Wrapped Bitcoin simply is not Bitcoin. It's just another thing altogether. |
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coinerer
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January 05, 2023, 01:54:32 PM |
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Wrapped Bitcoin is not original Bitcoin which is develop my Satoshi nakamoto . It is controlled by an organization and its price is kept in line with the original Bitcoin . And it is also believed to be used as true Bitcoin. And it allows everyone to transact Bitcoin through different chain like Ethereum, binance smart chain, Solana , polygon etc. This is basically how it works and we can use it constantly just like real Bitcoin. And every exchange and different organizations accept and give chance to exchange it as true Bitcoin.
"Wrapped Bitcoin" is not used as true Bitcoin, it's just a token that follows the price of Bitcoin. You can buy Bitcoin using any kind of payment, fiat, altcoins, etc. Wrapped Bitcoin simply is not Bitcoin. It's just another thing altogether. Wrapped Bitcoin followed Bitcoin price it is true and it is also true that Wrapped Bitcoin Wrapped Bitcoin is considered by many to be the same as real Bitcoin. And many withdraw Wrapped Bitcoin when withdrawing from exchanges to save the withdrawal fees. That is why Wrapped Bitcoin is very popular. And Wrapped Bitcoin works as an alternative to real Bitcoin |
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zasad@
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Activity: 1750
Merit: 4285
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January 05, 2023, 02:32:54 PM |
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Wrapped Bitcoin is not original Bitcoin which is develop my Satoshi nakamoto . It is controlled by an organization and its price is kept in line with the original Bitcoin . And it is also believed to be used as true Bitcoin. And it allows everyone to transact Bitcoin through different chain like Ethereum, binance smart chain, Solana , polygon etc. This is basically how it works and we can use it constantly just like real Bitcoin. And every exchange and different organizations accept and give chance to exchange it as true Bitcoin.
"Wrapped Bitcoin" is not used as true Bitcoin, it's just a token that follows the price of Bitcoin. You can buy Bitcoin using any kind of payment, fiat, altcoins, etc. Wrapped Bitcoin simply is not Bitcoin. It's just another thing altogether. Wrapped Bitcoin followed Bitcoin price it is true and it is also true that Wrapped Bitcoin Wrapped Bitcoin is considered by many to be the same as real Bitcoin. And many withdraw Wrapped Bitcoin when withdrawing from exchanges to save the withdrawal fees. That is why Wrapped Bitcoin is very popular. And Wrapped Bitcoin works as an alternative to real Bitcoin Wrapped Bitcoin can be blocked because it is a token in popular ecosystems. Withdrawal fees from exchanges may be lower, but liquidity for large amounts is only available in the Ethereum ecosystem. I wouldn't store Wrapped Bitcoin in the Avalanche ecosystem for example. |
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coinerer
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January 05, 2023, 02:49:45 PM |
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Wrapped Bitcoin is not original Bitcoin which is develop my Satoshi nakamoto . It is controlled by an organization and its price is kept in line with the original Bitcoin . And it is also believed to be used as true Bitcoin. And it allows everyone to transact Bitcoin through different chain like Ethereum, binance smart chain, Solana , polygon etc. This is basically how it works and we can use it constantly just like real Bitcoin. And every exchange and different organizations accept and give chance to exchange it as true Bitcoin.
"Wrapped Bitcoin" is not used as true Bitcoin, it's just a token that follows the price of Bitcoin. You can buy Bitcoin using any kind of payment, fiat, altcoins, etc. Wrapped Bitcoin simply is not Bitcoin. It's just another thing altogether. Wrapped Bitcoin followed Bitcoin price it is true and it is also true that Wrapped Bitcoin Wrapped Bitcoin is considered by many to be the same as real Bitcoin. And many withdraw Wrapped Bitcoin when withdrawing from exchanges to save the withdrawal fees. That is why Wrapped Bitcoin is very popular. And Wrapped Bitcoin works as an alternative to real Bitcoin Wrapped Bitcoin can be blocked because it is a token in popular ecosystems. Withdrawal fees from exchanges may be lower, but liquidity for large amounts is only available in the Ethereum ecosystem. I wouldn't store Wrapped Bitcoin in the Avalanche ecosystem for example. Since Wrapped Bitcoin is a token and cannot be compared to original Bitcoin and since there is an organization to control Wrapped Bitcoin it is not fully decentralized so it cannot be fully trusted like Bitcoin and it is wise not to store it. And I myself do bitcoin transactions through bitcoin addresses so I am not very familiar with Wrapped Bitcoin. But when withdrawing Bitcoin I see Wrapped Bitcoin Withdrawal option in every exchange. Do you know why exchanges keep Wrapped Bitcoin as an option when withdrawing real Bitcoin? Where it is not a real bitcoin |
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zasad@
Legendary
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Activity: 1750
Merit: 4285
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January 06, 2023, 07:46:04 PM |
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Wrapped Bitcoin is not original Bitcoin which is develop my Satoshi nakamoto . It is controlled by an organization and its price is kept in line with the original Bitcoin . And it is also believed to be used as true Bitcoin. And it allows everyone to transact Bitcoin through different chain like Ethereum, binance smart chain, Solana , polygon etc. This is basically how it works and we can use it constantly just like real Bitcoin. And every exchange and different organizations accept and give chance to exchange it as true Bitcoin.
"Wrapped Bitcoin" is not used as true Bitcoin, it's just a token that follows the price of Bitcoin. You can buy Bitcoin using any kind of payment, fiat, altcoins, etc. Wrapped Bitcoin simply is not Bitcoin. It's just another thing altogether. Wrapped Bitcoin followed Bitcoin price it is true and it is also true that Wrapped Bitcoin Wrapped Bitcoin is considered by many to be the same as real Bitcoin. And many withdraw Wrapped Bitcoin when withdrawing from exchanges to save the withdrawal fees. That is why Wrapped Bitcoin is very popular. And Wrapped Bitcoin works as an alternative to real Bitcoin Wrapped Bitcoin can be blocked because it is a token in popular ecosystems. Withdrawal fees from exchanges may be lower, but liquidity for large amounts is only available in the Ethereum ecosystem. I wouldn't store Wrapped Bitcoin in the Avalanche ecosystem for example. Since Wrapped Bitcoin is a token and cannot be compared to original Bitcoin and since there is an organization to control Wrapped Bitcoin it is not fully decentralized so it cannot be fully trusted like Bitcoin and it is wise not to store it. And I myself do bitcoin transactions through bitcoin addresses so I am not very familiar with Wrapped Bitcoin. But when withdrawing Bitcoin I see Wrapped Bitcoin Withdrawal option in every exchange. Do you know why exchanges keep Wrapped Bitcoin as an option when withdrawing real Bitcoin? Where it is not a real bitcoin This is a centralized token that is controlled by an official organization that complies with the law. Exchanges use tokenized assets for the convenience of their clients. There is no need to look for a conspiracy here. But a tokenized asset is more convenient in some cases, for example, in terms of the speed of transactions and the cost of commissions. |
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