Bringing Bitcoin To Ethereum Is How To Conquer Facbeook Libra!!

Bringing Bitcoin To Ethereum Is How To Conquer Facbeook Libra!!

heyyo good evening viewers of the tube my name is Tyler and let me introduce you to the channel that is leaving its own mark on the crypto space one video at a time well let's continue our journey to becoming household crypto names because it's time for Chico crypto Bitcoin was made back in 2009 as a declaration of independence from centralized control of money within the Genesis block a hidden message was left by Satoshi is said the x o3 January 2009 Chancellor on brink of second bailout for banks referencing a news article that was printed on the same day an obvious statement of Bitcoin being able to provide a more equitable value system than the baking cartels provide across the globe Bitcoin was made to be a secure store of value and p2p money and that's it then in 2015 a theorem was established to go one step further beyond storing value and money and declared independence from centralized control of enterprises and corporate conglomerates of which global citizens were becoming enslaved to aetherium was designed to be a platform with a blockchain that operates as a virtual machine executing smart contracts which could be programmed in a turing-complete programming language now here we are in 2019 and both projects have established themselves as the dominant names and cryptocurrency Bitcoin with the first mover advantage and unrivaled security has led to its hold on the position as the number one cryptocurrency Bitcoin has the highest market cap and is the most liquid cryptocurrency aetherium with the ecosystem that is being built rightfully has secured the second spot with the second highest market cap although since the launch of aetherium and more recently there has been tribalism in each of the camps aetherium and Bitcoin have been clashing head-to-head Bitcoin maximalist think there should only be one crypto and it should be Bitcoin everything else is just a coin heads talk about the flippin e the point where aetherium takes over the market cap of Bitcoin which has almost happened once back in July of 2017 this fighting and tribalism needs to stop and two camps need to work together where Bitcoin and aetherium almost become one let me tell you why this year has been a special year and a wake-up call for the crypto camps institutions banks and corporate giants have teamed up together led by Facebook to launch our own digital currency called Libre it's a centralized play by corporations to create their own monetary system capturing the networked value for those involved with the Libre Association cryptocurrency now isn't just at war with Fiat it's at war with corporate money if crypto is going to take on a now two-headed beast it needs to cooperate and combine resources not be separated in silos fighting about who is better you could bring aetherium to Bitcoin and there are projects working to bring smart contracts to BTC like rootstock rootstock is a two-way peg capable of executing etherium smart contracts our BTC or smart bitcoin is a token on that side chain and if we check out the contract address we can see 20 million nine hundred ninety nine thousand eight hundred eighty for our BTC are locked in the address and since it's a two-way peg to bitcoins 21 million this means one hundred and fifty six our BTC have been issued meaning the network capacity of route stock is just 1.8 million dollars what about bringing Bitcoin to aetherium there are projects attempting to do this w BTC or wrap Bitcoin is the most popular rap bitcoin is a joint effort between aetherium network participants to bring a custodian model where bitcoin is minted as an ERC token and given to a participant and the Bitcoin backing it is held by a trusted custodian this is a fully centralized model yet has seen larger growth than rootstock if we check out the stats we can see over five hundred and thirty-nine Bitcoin have been wrapped worth over 6.2 million dollars so wrap Bitcoin is 3.4 times bigger than root stock and the project was only launched six months ago and in the past three months wrap Bitcoin has been seeing a major uptrend in the number of W BTC now why is this the case and it isn't rootstock who is seeing significant growth well what can you do with our BTC what d apps and defy tools have been built in which you can utilize and make your coin go even further nothing that I have heard of but aetherium has a built out programmable money ecosystem that is the farthest reaching in the space they have multiple projects and derivatives lending prediction markets stable coins among many other categories in the defy space 87% of projects have chosen aetherium while just 3% have chosen Bitcoin this defy lets you do more with your Bitcoin on aetherium then you can do with Bitcoin with aetherium capabilities for example you can use the new o network to borrow against your Bitcoin using W BTC and receive a crypto loan even in the stable coin die this is just the beginning and the growth of W BTC has been ramping up because more dphi tools are getting ready to launch rap Bitcoin is deeply ingrained in the defy ecosystem with partners including Qyburn network maker Dharma and many others so soon you will be able to lend out your Bitcoin and earn a healthy interest like what is already happening with aetherium in its tokens no matter how you look at it bringing Bitcoin to aetherium or bringing aetherium to Bitcoin the solutions out there right now rely on centralized models both rootstock and W BTC for a fully decentralized network one that Facebook and its Libre could only dream of being able to conquer a fully trust less bridge between the two needs to be developed this bridge manages the funds on both block chains and ensures that for every currency unit it controls on blockchain a it generates an equal amount on blockchain B and allows anyone can migrate or redeem their funds on either blockchain this isn't fully trestle asan rootstock or w BTC the only project i could find which is actually migrating tokens to another chain an actual trustless bridge and not a middleware solution like many of the interoperability projects out there is something called exclaim now for those of you thinking that this is another token it's not it's a protocol being developed and researched by the Imperial College of London annex claim allows to create assets which are one-to-one backed by existing crypto currencies without requiring trust in a central operator their first focus is on implementing Bitcoin back tokens on aetherium if you interested in how exclaim works I've added their research paper in the description of this video X claim is live on the Robson test net and plans to go live on the main net very soon bitcoin is a two hundred billion dollar liquid asset and bringing that liquidity and collateral within the etherium ecosystem might be the only chance to compete with the likes of Libra like mentioned you could bring aetherium to Bitcoin but the infrastructure is not built and by the time it does get built Libra will most likely already have control in my opinion our only chance is to bring Bitcoin to aetherium cheers viewers I'll see you next time you

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About the Author: Maximilian Kuhn


  1. ⏰ Time Stamps ⏰

    00:08 Introduction

    00:25 Histories of Bitcoin and Ethereum

    01:24 BTC and ETH Both Have Strengths and Weaknesses

    01:48 Tribalism With Both Bitcoin & Ethereum Camps

    02:21 This Needs To Stop Because Facebook Libra Is Coming

    02:56 Bringing Ethereum To Bitcoin-Rootstock-Semi Centralized

    03:31 Bringing Bitcoin To Ethereum-Wrapped Bitcoin $WBTC-Centralzied

    04:17 Why Is Wrapped Bitcoin Growing Faster Than Rootstock?

    05:30 Bringing Ethereum To Bitcoin or Bitcoin To Ethereum-Fully Decentralized?

    06:05 Xclaim Trustless Bridge

    06:53 Conclusion

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  2. Crazy that you did not mention FUSION (FSN), which you covered not so long ago by the way! This is exactly the problem they are solving already!

  3. Yo what up Tyler, this is vinny Idk if u remember me, I was on diff channel before, but I was invested in loopring w you a while back before the big crash I was looking at how low it is now and was wondering your thoguhts if I should go for grabbing some more (I sold mine before crash)

  4. Libra will be nothing more than an ALT coin. Just saying you cant marry BTC, Everyone who says it should clearly dosnt understand the basics or truth Bitcoin is decentralised blockchain everything else is just a copy

  5. Fascinating video…love unique content like this.thank you for providing quality content in a concise format like this.

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