Meet eBTC an Ethereum-BTC Hybrid
eBTC is a new altcoin that markets itself as a BTC-Ethereum hybrid with technical properties that contain similiarities to both. Due to unknown factors it has recently experienced a rapid 300% increase in price. In this article I will explore the new altcoin in more detail.
According to an article recently published on The CoinTelegraph entitled 'Nailed it? Ethereum-Bitcoin 'Hybrid' eBTC Gains 300 Percent on Investor Hype' eBTC is an erc-20 token poised to take over as a top altcoin this year.
The curious concept, which is attempting to become “a tokenized version of Bitcoin on the Ethereum Blockchain,” completed an airdrop to Ethereum (ETH) holders prior to its debut Oct. 1.
“There is currently no widely accepted tokenized version of Bitcoin on Ethereum, which is pretty surprising,” developers explain on eBTC’s website.
“[...] As eBTC grows, it will display Ethereum's capabilities and strengthen it's (sic) stance among crypto-currencies.”
According to data from Coinmarketcap, eBTC launched with a value of around $0.03 per token, but as of press time had increased to $0.20 as exchange EtherDelta became involved in trading it.
Although its unclear how many airdropped coins ETH holders received, clearly there are additional benefits to holding ETH when you look at the eBTC case study.
According to the founders of eBTC it has
been described like this :
“It will not only boost Ethereum’s recognition in the cryptocurrency community but also in the eyes of the public, while also providing a way to utilize Ethereum’s vast capabilities with a token which is representative of Bitcoin.”
However, based on my experience with cryptocurrency and altcoins this may just be another one of the altcoin bubble's notoriously hated 'pump and dumps' and eBTC could end up resembling July’s Useless Ethereum Token (UET).
What are your thoughts about this new eBTC token? Do you think there is value and merit to holding such a token?
Please leave thoughts and feedback below.
Thanks for reading!
Source:
Nailed it? Ethereum-Bitcoin 'Hybrid' eBTC Gains 300 Percent on Investor Hype - The CoinTelegraph
Tread carefully that was a reddit post questioning the founder and found a loophole in the code. DYOR everyone.
Thanks for warning and @techblogger for posting.
Heres more:
https://www.reddit.com/r/eBTC/comments/760at2/regarding_ebtcs_calamity/
The owner seem to have passed funds to the team, i would wait a bit until they sort it any code flaws, etc.
I would be curious about this technology, but if investing, do it wisely.
Hey, great job! You saved me some time to search about it :)
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Great post, will check it out, but I think I heard it had some security issues??
Wow.. this is really new, haven't really thought of an altcoin having Bitcoin-Ethereum characteristics. I think the coin would appreciate more than both different coins combined.
Nice informative post ..keep it up
It's an interesting development, but maybe one to hold out on for a while to see if the bubble bursts.
Seems completely and utterly legit to me. smh
Their website is just a big 404 page https://www.ebtc.io/
The price is now back to near starting levels as people have realized they have been scammed.
Take a minute to read through a few reddit posts
Take a minute to read through a few bitcointalk posts
Alarm bells should be ringing with eBTC.
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Interesting. Do you know when the Airdrop was/is? I've just checked MEW on my Trezor and there's nothing in there.
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