corndalorian on Nostr: I guess I’m a little confused why it’s an issue. cbBTC is a token pegged 1:1 with ...

I guess I’m a little confused why it’s an issue. cbBTC is a token pegged 1:1 with Bitcoin, and as you said it’s not Bitcoin. Coinbase explains this clearly when I look it up on their website. It is similar to how cashu and liquid are not Bitcoin, but are tokens pegged 1:1 with Bitcoin. They can all be transacted anywhere they are accepted, and then “cashed out” for bitcoin when the user wants. If someone was to buy 0.01 cbBTC on Coinbase, and sent that (via a swap I assume) to some Bitcoin wallet, in most popular wallets that balance would be shown as ₿ 0.01 or 1,000,000 sats based on user settings. If that same swap was sent to Boardwalk, Boardwalk would show it as 1,000,000 ₿ , correct? That is incredibly confusing. Why not just use what every other wallet already uses when denominating bitcoin? There’s nothing to stop you from using ₿ the way you are, but I’m trying to point out to you why it doesn’t make sense. It’s your battle to lose, and it’s your customer service that will need to explain it to your users.