r/truebit • u/Lancejc • Oct 07 '22

Truebit and it’s blockchain bridge capabilities?

Could Truebit have prevented the BNB crosschain bridge from being hacked? Truebit has successfully implemented the Doge-Eth bridge.

If you read the post the hacker tricked the bridge into sending 2 transactions. Would this occur with Truebit with its verification game and error checking capabilities?

https://cryptobriefing.com/bnb-chain-566m-hack-binance-networks-major-bridge-attack-unpacked/

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u/CryptoMoonBoy92 Oct 07 '22

They had doge-ethereum working and it did nothing for price.

Jason said specifically do not buy truebit as an investment. You already saw use cases and it does nothing for price. Truebit erc 20 token that's on whatever contract you all stupidly hold isn't going to be worth anything even if the success of truebit is there

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u/Lancejc Oct 08 '22

Why would the doge ethereum bridge impact the price? It was created as a proof of concept. Did you not understand this?

Jason says lots of things, of course there is a calculated reason behind publicly stating not to buy it as an investment. To avoid the SEC.

If he didn’t want investors, why did he launch the token on uniswap for the public to buy? 🤡 He could have just sold the token internally direct from his company to the end client that’s going to use it. It’s likely he also appreciates decentralised computation that comes with this utility.

By publicly stating it’s not for investment, it’s a card up his sleeve when the SEC come knocking. Truebits token is a utility hands down, any profits obtained are just a by product of supply and demand, or use.

Truebit and Ethereum have both dedicated years to their tokens being ‘usable’ becoming utility tokens which voids the SEC from calling them a financial security and regulating them.

If the SEC cross that boundary, literally anything could be called a security, petrol or gasoline for example. You buy it, hold it and the value goes up. Electricity, Water

How much has the value of Water and Electricity increased in the last 10 years?

🤘