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Topic: wBTC and BTC - page 2. (Read 230 times)

hero member
Activity: 700
Merit: 673
July 12, 2023, 05:49:08 PM
#3
I have a question, I noticed that the wBTC moves in lockstep with the price of bitcoin, that is, if the price of bitcoin is $20.000, the price of wBTC is also $20.000, is there any possibility of a price difference?

WBTC is an altcoin that they claim to be Bitcoin on another network, and as such, they trade it at the same price as BTC. It's said that he pegged BTC. But they are not real bitcoins, as there is only one bitcoin; any other ones are altcoins, as already explained by Charles-Tim. Don't get deceived; always hold your Bitcoin, as those pegged can be depegged anytime and the value might turn down to zero.

As their price is being backed up by the developers, if the project that pegged it fails today, then the price will definitely be no different from other shitcoins out there. We can use UST as an example of what happens to peg tokens; they're supposed to be equal to $1, but the Luna crash has made it otherwise.
legendary
Activity: 1512
Merit: 4795
Leading Crypto Sports Betting & Casino Platform
July 12, 2023, 05:47:52 PM
#2
wBTC is an altcoin, it is possible that the price may depeg. It is not bitcoin.

If you want to buy bitcoin, do not buy those altcoins, buy bitcoin directly instead, instead of depending on wBTC developers. If anything bad happens to bitcoin, it will automatically happen to those altcoins pegged with bitcoin price. But if anything bad happens to those altcoins, nothing will happen to bitcoin to a significant extent.

I am not implying that anything would happen to bitcoin, it is the strongest coin that is still existing with the strongest blockchain, but just implying the need not to go for pegged coins.
newbie
Activity: 17
Merit: 8
July 12, 2023, 05:45:18 PM
#1
I have a question, I noticed that the wBTC moves in lockstep with the price of bitcoin, that is, if the price of bitcoin is $20.000, the price of wBTC is also $20.000, is there any possibility of a price difference?
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