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Jeez this xBTC stuff is some of the most overhyped marketing I've seen in a while.

Oct 7, 2020

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We don't think it's overhyped. Honestly our launch has been the opposite of hype, just buckling down and trying to build something cool. A decentralized and open market synthetic price on Bitcoin Dominance, sounds pretty cool to us. Hope you come around, happy to chat! Big fans!

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Mostly I mean the language in the whitepaper, website, etc. :)

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Thanks Sam, I mean, we're big fans of ourselves :) It's something that is really cool and possibly creating a new asset class... possibly. I do think it creates a new type of synthetic and possibly derivatives, if we build it right and do the right ecosystem. Feedback welcomed!

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The marketing is eh and the product is very questionable. The rug that I’m standing on is starting to move.........

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lol, we're trying to build something to last, as you'll see from our partnerships xbtc.fi we're taking this seriously. It's a very different value proposition to rebasing and tokens in general. It's a way to bring off chain data to on-chain economics in a new way.

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so I think the fundamental problem is that doing a rebase doesn't change the economic fundamentals -- it's just a stock split, so holders shouldn't win or lose to them in general, they're just neutral

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AFAIK nothing in the protocol ties the market cap of xBTC to bitcoin dominance beyond the name

3:59 AM · Oct 7, 2020Twitter Web App

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I’m getting the vibe the whole project is a fake...guy’s LinkedIn does not match up with his story. I should be sleeping rather than doing this.

linkedin.com

Mark Sgambelluri - Co-Founder & CEO - xBTC | LinkedIn

View Mark Sgambelluri’s profile on LinkedIn, the world’s largest professional community. Mark has 3 jobs listed on their profile. See the complete profile on LinkedIn and discover Mark’s connections...

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1/ I mean the traditional derivatives market is notionally worth 600T, and the real value is 12T, the thought that they are tied to real value is comical. They are just a bet with a buyer and seller, and some of them are illiquid if they don't have that. We provide an open market

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bet for people to make quickly and easily, putting a decentralized spot price on BMCD. Also through liquidity pools you can create partial collateralization just like SNX. SNX forces their spot price through their walled garden, we let the market make our spot price.

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