BITCOIN SEASON 2: What You Didn’t Know About Wrapped Bitcoin

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CoinDesk

Tech News, Business News, Daily News, News

4.7 • 698 Ratings

🗓️ 15 February 2025

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Is your cross-chain bitcoin secure? What does “wrapping” bitcoin even mean anyway? You're listening to Bitcoin Season 2. Subscribe to the newsletter, trusted by over 7,000 Bitcoiners: https://newsletter.blockspacemedia.com Matt Luongo from Thesis helps us “wrap” our heads around what it means to take your bitcoin cross-chain. What are the trust assumptions? What are the differences between different wrapped Bitcoin products? Is there any “funny business” going on? Notes: • New users are coming to ETFs • Microstrategy vs cross-chain Bitcoin • TVL mirroring • BitGo’s Wrapped Bitcoin vs other wrapped Bitcoin Check out our Bitcoin scaling conference! Visit opnext.dev to learn more. Chapters: 00:00 Introduction 02:03 What is Wrapped Bitcoin 05:12 Bitcoin Layers and Bridging 10:30 Trust Assumptions in Wrapped Bitcoin 14:14 Proof of Reserves vs. Solvency 19:02 The Scale of Wrapped Bitcoin 25:12 Soft Forks and Bitcoin’s Future - 👉 Brought to you by Arch Network! Arch brings the speed of Solana & the best of crypto UX to Bitcoin. Tap into the rich app ecosystem on Arch & try out the testnet while you’re still early! Visit arch.network to learn more. - 👋Bitcoin Season 2 is produced Blockspace Media, Bitcoin’s first B2B publication in Bitcoin. Follow us on Twitter and check out our newsletter for the best information in Bitcoin mining, Ordinals and tech! Enjoy the show? Check out our website and newsletter by clicking here. Questions or want to sponsor? hello@blockspace.media See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:45.6	That's audible.com slash Wondery UK.
0:49.8	Proof of reserves is never proof of solvency.
0:52.1	So now we get to the really interesting spot of some of these new systems where a lot of them are excited about Bitcoin season two, just like you.
1:00.4	You know?
1:00.7	And I mean, just like me.
1:01.9	And so there was a gold rush.
1:03.6	But they made some exceptions.
1:05.3	So I call this TVL mirroring.
1:09.3	It was really, especially about a year ago, it was all the rage as this,
1:13.5	as this Bitcoin season two narrative started. And what people do is they say, hey, I want to launch a
1:18.6	new product, a new Bitcoin product. I really want to show how big and important my product is.
1:24.4	So I need to get a bunch of people to put their money at risk and show how they believe
	...

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