eBTC - $2M of Thin Air

Hi Readers,

Recently, I discovered an Ethereum ERC20 Token called eBTC, that is based on a very basic idea: a token with 21M of total supply (Bitcoin's max supply) and... nothing more. The distribution of eBTC among holders was performed by an AirDrop, so basically, once it traded for the first time, $2.2M just appeared (first market cap available).

If you visit their website, you can see that this amazing token is compatible with 6 mentioned wallets and much more! Thats a good thing because no other ERC20 token is compatible with every wallet with ERC20 support. (I'm being sarcastic)

Right below we find 3 advantages when compared to Bitcoin:

1. Faster (24s to confirm, compered to 8m Bitcoin's block time)
2. Cheaper (10x less fees than Bitcoin, $0.2-$0.5)
3. Smarter (Smart-Contract Compatible)

Just to be clear, the author of this website is not lying. Since eBTC is an Ethereum Token, it is moved inside the Ethereum Blockchain, so as other tokens, it has the standard atributes of every single ERC20 Token. This means that there is no added value by a creation of a token with no utility in any ethereum-based application, because if you want to transfer value, the purpose of eBTC, you can do it with every crypto asset out there! If you want to pay practically nothing in fees and have a good liquidity insurance, use Ripple, it costs $0.0009 to transfer and takes around 3.5s to confirm.

Last point: the creator of eBTC retained 5% for further development. Let's do the math: $2M*0.05=$100 000! And this how anyone can create $100 000 of wealth.

Thanks, see you next time.