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A comment on Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers. Parent comment

Re:Celsius Execs Cashed Out $40M in Crypto Before Halting Wi... by redox99 on Thursday October 06, 2022 @04:42PM (#33113830)
That's why I think Bitcoin is outdated (yes, get your pitchforks), and you really need something that can do smart contracts.

Bitcoin you can hold it, transfer it, and not much more. Having smart contracts (like Ethereum) allows you to have something like Uniswap, which is decentralized and allows you to trade your coins.

Yes, it's not a fiat on/offramp, but if stablecoins are actually good and backed, in the scenarios you describe you would just buy/sell stablecoins and at a later point exchange those stables for cash.

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Re:Celsius Execs Cashed Out $40M in Crypto Before Halting Wi... by cdiddy2 on Thursday October 06, 2022 @07:27PM (#33115508)
With tBTC (v2 coming very soon), you can move you bitcoin to the ethereum chain and trade it/use all defi there and then move it back all trustlessly. So in a way it makes ethereum a layer2 for bitcoin to work off of without having to change the bitcoin base chain
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Re:Celsius Execs Cashed Out $40M in Crypto Before Halting Wi... by gobip on Thursday October 06, 2022 @04:50PM (#33113915)
Layer two on Bitcoin. Lightning network. Stablecoins coming soon.
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