This is a goood point. I think this maybe one of their major profit generating use cases. but we only see what we know, we don't know if their Bitcoin custodian business has other use cases, and what percentage of their business those use cases are. In that case if they are mainly a Bitcoin Custodian in Asia this is a perfect strategy and Makerdao could just be an annoyance at this point.
I think this is a very good point. I don't know what their streams of income are, and so this Makerdao stream may be smaller then we think. They may be a major custodian of Bitcoin outside the Makerdao WBTC use case and if that is the case, this strateguc move towards Asia, where the majority of WBTC is suppose to be, this maybe perfect.
Additionally, we know Justin Sun's reputation on HIve and we know somewhat it it in the West, but what is his reputation in Asia?
Good question. Yes Makerdao is very big, and while they could lose money, they are not a centralized entity concentrating on profits. They are a DAO and the members have spoken.
It would be ironic if this hurt makerDao more then Bitgo because Bitgo sees this as a major business when they started, but now it's a minor part of their business because they are primarily a Bitcoin custodian. Life is full of surprises.
Interesting thought.
MakerDao does benefit from this wrapped bitcoin loan situation.
Time will tell the answer, cryptocurrency blockexplorers are transparent, so I am sure people will investigate it.
This is a goood point. I think this maybe one of their major profit generating use cases. but we only see what we know, we don't know if their Bitcoin custodian business has other use cases, and what percentage of their business those use cases are. In that case if they are mainly a Bitcoin Custodian in Asia this is a perfect strategy and Makerdao could just be an annoyance at this point.
I think this is a very good point. I don't know what their streams of income are, and so this Makerdao stream may be smaller then we think. They may be a major custodian of Bitcoin outside the Makerdao WBTC use case and if that is the case, this strateguc move towards Asia, where the majority of WBTC is suppose to be, this maybe perfect.
Additionally, we know Justin Sun's reputation on HIve and we know somewhat it it in the West, but what is his reputation in Asia?
Good point about westerners not knowing how easterners view Justin Sun
Good point, we don't know the truth about where their money / business comes from.
This is a good point. We haven't seen their books and don't know their plans.
Good question. Yes Makerdao is very big, and while they could lose money, they are not a centralized entity concentrating on profits. They are a DAO and the members have spoken.
It would be ironic if this hurt makerDao more then Bitgo because Bitgo sees this as a major business when they started, but now it's a minor part of their business because they are primarily a Bitcoin custodian. Life is full of surprises.
Interesting thought.
MakerDao does benefit from this wrapped bitcoin loan situation.
Time will tell the answer, cryptocurrency blockexplorers are transparent, so I am sure people will investigate it.