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A comment on Balaji bets $1M that USD will suffer hyperinflation within 90 days. Parent comment

Re:Balaji bets $1M that USD will suffer hyperinflation withi... by JVillella on Friday March 17, 2023 @04:18PM (#35202333)
There's something called WBTC[1]. It's very popular.

[1]: https://wbtc.network

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Re:Balaji bets $1M that USD will suffer hyperinflation withi... by Laaas on Friday March 17, 2023 @04:31PM (#35202504)
EDIT: This comment is entirely wrong! Disregard.

Do note this isn't _real_ wrapped bitcoin. It's essentially a stablecoin which price matches a bitcoin; it is not backed by any bitcoins unfortunately.

Real wrapped BTC would require a decentralised bridge which isn't exactly trivial.

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Re:Balaji bets $1M that USD will suffer hyperinflation withi... by JVillella on Friday March 17, 2023 @04:32PM (#35202519)
Wrong :) Look at the website.
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Re:Balaji bets $1M that USD will suffer hyperinflation withi... by Laaas on Friday March 17, 2023 @04:42PM (#35202641)
FWIW it seems to be centralised, making use of a custodian, albeit it is backed by BTC as you say.
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Re:Balaji bets $1M that USD will suffer hyperinflation withi... by JVillella on Friday March 17, 2023 @04:46PM (#35202689)
Yes, that's right. It's like USDC in that sense.
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