WBTC, if you don’t know what that is, it is a ERC20 token with a fixed price tied to that of bitcoin. Or at least, it is supposed to be... I’ve noticed a lot of places that offer to sell/exchange WBTC do so at a VAST premium compared to what WBTC is SUPPOSED to be tethered too (again, BTC, and no pun intended with the tether reference).
the price difference does seem to fluctuate but on average it looks like WBTC cost compared to its parent value seems to be that plus 20-30$(fiat)
meaning if bitcoin is selling at 20,000 doll hairs, I would be expecting to pay 20,020-20,030 for a “wrapped” version.
Fuck that.
I understand that the seller(s) of (“Wrapped”)bitcoin might want to recoup the cost of their TX fee’s due to the ETH network unto others, but that’s wrong, I’m sorry, it’s wrong. And I cannot wait for the day that ethereum isn’t hindered by greedy miners dictating the price of basic transactional needs or someone else (PROBABLY DOT or XTZ) takes over.
I guess until then, I gripe, and avoid DeFi with my bitcoins. ;P
till future posts 0x fam,
Respect ✊❤️ 🦛 !
OH and -plug-
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