inkan on Nostr: If RBTC traded at 50 cents while Bitcoin is at 80k, this would presumably mean that ...

If RBTC traded at 50 cents while Bitcoin is at 80k, this would presumably mean that people think there's something seriously wrong with the bridge. The value of RBTC just seems to reflect people's view of the integrity of the pegging mechanism and the trustworthiness of the pegnatories. By contrast, the value of Bitcoin or Ethereum reflects people's view of the security, usefulness and future of the chain itself. It feels like, in the case of Bitcoin and Ethereum there's more overlap between those who are defending these chains and those who have their economic interests bound up in them, and there's less of a single point of failure, but I guess I'll need to look into this more. Also it's of course perfectly fair to predict that things will get better in the future with BitVM, but the prediction doesn't substitute for what it presently is.