Topic: Bitcoins tokenized faster than they are being mined - page 2. (Read 291 times)

OMG how funny I just posted the same article and similar questions just minutes after you did!  I tried to delete mine, but I can't   
Maybe the moderators can delete it so we can consolidate this topic under your thread. I have very similar questions, but I will add them here to build on your thread:

What are the implications of 'wrapped bitcoin' tokenization trend to BTC if this trend continues?
In particular, is it positive or negative to BTC in the short or long run?

Bro,I want to really know how bitcoin token operates because i don't really know if their is any difference between bitcoin token and ETH token.

I've heard of this token before, and I immediately thought of how Tether was supposed to be backed up by USD 1:1. The same concerns apply here, and now there is evidence these concerns are not ungrounded. Claiming to claim that your token is backed by something is one thing, but actually backing it up means spending a lot of money in process which is not something a project would want to do out of good will if it's avoidable. And backing the tokens up less and less can work find as long as people trust in the token and in the back up part of the story. However, there always remains a risk of it collapsing if suddenly many people decide to drop their coins and get the real thing instead.

According to the reports the Bitcoins are tokenized faster than they are being Mined .
Let us go by some things first :

What is Tokenization?
In simple words token can represent a Tradable and Transferrable value that is acceptable and interchangeable. For example one token might mean 10 BTC , or maybe 15 BTC , so when you exchange the token or use it , you are entitled to use them.
There are many ICO's that also gives tokens to the participants, concept is same.




What is Minted Bitcoins?
When someone does solve the block , they do have the opportunity to actually transfer the reward into an address of their own choice , but first they have to show POW , proof of work , this way they are more like Virgin Bitcoins.

What is wrapped BTC?
It's nothing but ERC20 tokens representing the exact amount of Bitcoins which enables fast transition of ERC20 to BTC . According to the team they are the
Now let's focus on the article: 
https://www.coindesk.com/wrapped-bitcoin-tokenized-faster-mined-defi



WBTC being created more than the Bitcoins themselves does prove that people are using them more in the market , maybe for the smart contracts and other options that ERC20 does have to offer , not like BTC does not have that but it's harder ..


First thing , it's not Bitcoins but at the end of the day , it's supported by Bitcoins , it's backed by Bitcoins this does mean Bitcoins and ERC20 tokens have integrated themselves in a much mutualistic way . This does mean they are supporting each other and we should expect people to get involved with WBTC more.

It's been expected to be a first class asset in some years .

What are your views ?
Have you ever owned and used WBTC?