Oh hi :-) It cannot be “replaced” by a token, any more than webpages can be replaced by hyperlinks. I agree with your position. ERC20 tokens are a contact stat

Oh hi :-) It cannot be “replaced” by a token, any more than webpages can be replaced by hyperlinks. I agree with your position. ERC20 tokens are a contact state variable, Bitcoin is a global peer to peer software and network. It’s a shared memory address vs actual software product. I have relaxed my position on WBTC as I am seeing it’s value as a neutral store of value as collateral on EVM networks, etc. I do see some value here and I believe it further increases demand for the underlying BTC asset. Non-ETH EVMs can transfer BTC cheaper than Lightning (however you lose the privacy implicit to LN). An uncharitable position would be that all tokenized Bitcoin is just an excuse at rehypothication, but I think with transparency this can be dealt with.