What is the logic reason behind legacy/segwit wallet address not sending Bitcoin

[o_e_l_e_o]

So, You are trusting Bitgo with your Bitcoin.

Exactly this. Custodian doesn't want to redeem your token? You've lost everything. Custodian is insolvent? You've lost everything. Custodian exit scams? You've lost everything. Etc. And while you are playing around with your worthless wrapped IOUs, the custodian is most likely lending/investing/risking your bitcoin to make themselves profit, as was the case with Celsius, Voyager, BlockFi, FTX, and every other custodian which has collapsed over the past year or so.

It's all one big centralized scam.

I heard Trust Wallet is owned by Binance. Not sure if it's true as well.

True. It's also closed source. You would do well to avoid it.

[1715377514]

1715377514

[EmpoEX]

So, You are trusting Bitgo with your Bitcoin.

Exactly this. Custodian doesn't want to redeem your token? You've lost everything. Custodian is insolvent? You've lost everything. Custodian exit scams? You've lost everything. Etc. And while you are playing around with your worthless wrapped IOUs, the custodian is most likely lending/investing/risking your bitcoin to make themselves profit, as was the case with Celsius, Voyager, BlockFi, FTX, and every other custodian which has collapsed over the past year or so.

It's all one big centralized scam.

I don't see any reason to use wrapped Bitcoin when we can easily buy ORIGINAL Bitcoin. As I said in my previous post, the Bitcoin transaction fee is still tolerable even after the BRC-20 craze. Using wrapped Bitcoin means you give your money to someone, and he gives you a voucher in return which you can use in some specific shops. These shops can deny accepting that voucher whenever they want because it doesn't worth anything anymore, and you might not find the person who gives it to you.

I heard Trust Wallet is owned by Binance. Not sure if it's true as well.

True. It's also closed source. You would do well to avoid it.

I guess it was open-source before Binance bought it. Or was it owned by Binance from the beginning?

[BlackHatCoiner]

I guess it was open-source before Binance bought it. Or was it owned by Binance from the beginning?

It was acquired later, but it really doesn't matter. What was sometime in the past open-source makes no difference to the fact that its "upgraded" closed-source version is prone to errors, is not transparent, not private etc.

I don't see any reason to use wrapped Bitcoin when we can easily buy ORIGINAL Bitcoin.

There is none, unless you find Binance very useful as exchange to trade shitcoins. As far as I know, they charge nearly nothing when trading wrapped bitcoin for some altcoin.

[Oshosondy]

I don't see any reason to use wrapped Bitcoin when we can easily buy ORIGINAL Bitcoin.

Some people that know about wBTC use it for staking and earn some coins using APR to calculate the earning. The staking APR is very small compared to the bull run time profit of bitcoin.

I guess it was open-source before Binance bought it. Or was it owned by Binance from the beginning?

Trustwallet is open source before. Binance bought it and gradually make it close source.

[o_e_l_e_o]

As far as I know, they charge nearly nothing when trading wrapped bitcoin for some altcoin.

Just like they charge almost nothing to withdraw fake bitcoin tokens on their scam chains. Anything to entice people to leave the actually valuable asset - bitcoin - under Binance's control so they can risk it to make themselves profit.

Some people that know about wBTC use it for staking and earn some coins using APR to calculate the earning.

Maybe ask the users of Celsius, Voyager, BlockFi, and others how that worked out for them.

[EmpoEX]

Exactly this. Custodian doesn't want to redeem your token? You've lost everything. Custodian is insolvent? You've lost everything. Custodian exit scams? You've lost everything. Etc. And while you are playing around with your worthless wrapped IOUs, the custodian is most likely lending/investing/risking your bitcoin to make themselves profit, as was the case with Celsius, Voyager, BlockFi, FTX, and every other custodian which has collapsed over the past year or so.

It's all one big centralized scam.

Scam coin Wbtc started collapsing. It's de-pegged multiple times in the last seven days. It started de-pegging on 8th July slowly. They are tricking the chart as well. On 8th July, it returned to 28K for the whole day and regained the equal price of BTC for a short time. On 10th July, It went back to 27K again for the entire day and regained the peg for a few hours. Today it's gone back to 23K and gained a peg every ten minutes and then back to 23K again. This is a warning for the community.