2026-01-20 22:21:17

Cross-chain Bitcoin is like buying a gift card that has already been scratched off to reveal the redemption code. It can still be used on the surface, but whether it can truly be redeemed is anyone's guess. No one can say for sure. Because of this uncertainty hanging over it, currently Bitcoin's usage in the entire DeFi ecosystem accounts for less than 1%. This is an awkward figure.

Native Bitcoin is inherently the most trustworthy asset, yet now to enter DeFi, it has to rely on an intermediary layer to bridge the gap. This fundamentally contradicts Bitcoin's original design philosophy — decentralization and trustlessness. Although cross-chain solutions technically bridge the gap between Bitcoin and DeFi, it is precisely this remedy that becomes the weakest link in the entire chain. Investors are well aware that the risks are hidden within these invisible bridging protocols.

BTC-0,74%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

19 Likes

Reward
19
8
Repost
Share

Comment

0/400

HodlVeteran

· 01-23 21:17

Almost went all-in during the bear market bottom, now I only trust native Bitcoin. I don't mess with those cross-chain tricks.

View OriginalReply0

SellLowExpert

· 01-23 04:36

The gift card analogy is brilliant. Cross-chain BTC is a trust black hole; it's not worth the risk.

View OriginalReply0

ThreeHornBlasts

· 01-20 22:50

Uh, this gift card analogy is perfect. Middlemen always profit from the price difference, which is the biggest risk.

View OriginalReply0

BlockchainWorker

· 01-20 22:49

To be honest, the wrapped BTC setup is just a compromise product, and I've felt it's awkward for a long time. The true spirit of decentralization has died here, replaced by a scheme of "trusting middlemen."

View OriginalReply0

TokenVelocity

· 01-20 22:47

Uh... the bridging protocol is indeed a ticking time bomb, who can guarantee it won't rug?

View OriginalReply0

CommunityLurker

· 01-20 22:40

Cross-chain bridging is a ticking time bomb; sooner or later, something will go wrong...

View OriginalReply0

TokenRationEater

· 01-20 22:38

To be honest, cross-chain BTC is just a pseudo-need forcibly packaged as a solution... The gift card analogy is spot on and hits the nail on the head.

View OriginalReply0

LiquidityWitch

· 01-20 22:30

The gift card analogy is brilliant. Basically, it's exchanging trust for liquidity, but everyone has to pay the price. Cross-chain bridging sounds glamorous, but in reality, it's just poking a hole in the purity of BTC. Decentralization is a load of crap; it's really just gambling that these bridging protocols won't rug pull. A 1% share is really heartbreaking, indicating that the market has actually figured it out.

View OriginalReply0