New WBTC Token Could Be Good And Bad For Ethereum

On today’s episode of The Cryptoverse…
Today I have opted to go deep into one story rather than broad over many. The story I think is worth going a bit deeper into is this Ethereum based WBTC token which will be fully backed by Bitcoin, and may have wider implications for the whole economic model of Ethereum.

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BitGo Announces It Will Launch A Bitcoin Backed ERC20 Token On Ethereum In January 2019

New Protocol To Teleport Tokens From Ethereum To EOS

#wbtc #WrappedBitcoin #Ethereum


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  1. Hi Chris "there is an added cost to users to pay for their transaction in something other than ETH. Sending ETH in a transaction costs 21000 gas while sending tokens costs 40000 gas or more." -Erick Conner

  2. the waves platform has it already since 1 year so nothing new and additionally they have a super dex where you can trade without 3rd party risk better then on normal exchanges and its the best dex which I ever saw, but only experts knows it. best regards.

  3. The idea is good but ETH is much bigger then fuel. How about gaming scene work the new ERC720 or dock it is. ETH is meant for now then just currency and fuel i think.

  4. I had to listen through twice on WBTC twice to not gut react to the “ETH would mainly be the GAS for BTC-based currency transactions enabled by WBTC” because you seemed to be using ICO funding as the only reason ETH is used, so therefore the price would go down. It was the second listen that I realized you referenced dapps via the AUGER token or at least a use case via that mechanism.

    I’m still unclear if you still are taking into account all the dapps that use ETH currently – MyCryptons, cryptokitties, etc. it’s not at all clear to me if WBTC enables the use of BTC “within” or “behind” ETH in those cases with zero changes by the dapp developers or wallet developers.

    Or at zero risk. All it would take us a little smart contract bug or back door and bye bye BTC.

  5. Please. Go and read Distributed Operating System by Andrew S Tanembaum. And after reading, tell me if you still believing the EOS scam. Just try to understand the complexity achieving the WP claims.

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