The Bitcoin Newsletter 16
And the synthetic Bitcoin on every other chain?
WBTC, BTCB etc.
These are exactly the same price as bitcoin and can be swapped for native bitcoin 1:1
With Defi, we create loans which is to create new bitcoin - we are the bank operating fractional reserve banking.
My point is there must be more BTC on the other chains than the native chain.
And in time we shall see the whole circulation as M2, with native Bitcoin M1 money supply.
But in conclusion there will be a lot more than 21 milliion units.
Defi has its own minting & inflationary process.
So how does this fit in with the deflationary bitcoin concept?
As long as we have collateral, we can create new bitcoin.
And the synthetic Bitcoin on every other chain?
WBTC, BTCB etc.
These are exactly the same price as bitcoin and can be swapped for native bitcoin 1:1
With Defi, we create loans which is to create new bitcoin - we are the bank operating fractional reserve banking.
My point is there must be more BTC on the other chains than the native chain.
And in time we shall see the whole circulation as M2, with native Bitcoin M1 money supply.
But in conclusion there will be a lot more than 21 milliion units.
Defi has its own minting & inflationary process.
So how does this fit in with the deflationary bitcoin concept?
As long as we have collateral, we can create new bitcoin.