There is a future coming for Bitcoin that you might not be too thrilled about. Everyone wants to know what the next big thing for Bitcoin is, but sometimes we might not like the answer that we get. Throughout the last handful of years, if you were to ask someone what it means to be a Bitcoiner. They might tell you that they view it as the strongest form of money and the best way to hold their savings. They might say that it has the potential to change the world. Finally taking away power from governments and giving it back to the people. The chance to have your own money that won’t be inflated away is trustless, decentralized, secure, and has the potential to become valuable enough in the future to change their lives financially.
Up until now, Bitcoin has been pure. The nonsense that we see happening on other blockchains wasn’t a thing for the most part. But that all could be coming to an end. It all began with Ordinals, (BTC’s version of NFTs) coming to Bitcoin. All of sudden Bitcoin, which had for years seemed like it was developing was slugging along at a snail's pace. Is now moving at lightning speed. The development floodgates have been opened and excitement has rushed back to the Bitcoin ecosystem. Overall, this will be very bullish for Bitcoin’s price. But with it comes other consequences that we might not be so enthusiastic about.
De-Gens coming to Bitcoin
What this all means is that DeGens in crypto will be coming to Bitcoin in swarms. While Ordinals are quite basic in features now, you need to remember that they were just launched and will be quickly evolving from here on out. One of the new features that is being added soon are creator rewards. Which will allow the ordinal creator to be paid each time NFTs are bought or sold. This has been possible with other smart-contract NFT platforms, but it coming to Bitcoin is a big deal. This feature alone will entice thousands of ordinal projects to come to Bitcoin.
It isn’t only Ordinals and NFTs that we need to be concerned about with Bitcoin in the future. There have already been findings that tokens will be able to be minted on Bitcoin through the use of ordinals, or on 2nd layers on Bitcoin. To say it bluntly, this means that people will be minting tokens and launching projects in huge numbers in hopes of making money. Meme coins, ordinal projects, and shitcoins will be coming to Bitcoin in swarms. Just like we’ve seen on Ethereum for years now.
It is similar to a parent raising a child, our child being Bitcoin. We have cared for Bitcoin for several years and have done a great job at maintaining its innocence and protecting it from the outside world. But now Bitcoin is becoming more mature and wants to set off by itself in hopes of forming its own path or adventure. There will be great days and bad days. There will be growing pains, but also amazing feats. But most importantly, just like on other blockchains, there will be scams and rug pulls that you need to be careful for.
In the cryptocurrency market, there are dangers lurking all around us. If you aren’t careful and are too naive, they will take everything you have. However, if you are proactive, careful, and put in the work, the riches you can find in this market will eclipse anything else you will find in other markets. Most of us want Bitcoin to soar to the prices that we have all dreamed about. With those high prices comes much more development and adoption. Remember, the developers always follow the money. Right now that money flowing into Bitcoin. This resulted in ordinals coming to Bitcoin. It also will result in token minting, Stablecoins, DeFi, gaming, and nearly everything you can imagine.
There has long been a theory amongst Bitcoiners that everything thing you see happening on other blockchains will eventually come to Bitcoin. Always remember that it is a software protocol that can be, and will be upgraded. What doesn’t seem possible today, will be in the future. Personally, I have been incredibly excited to see development coming back to life on Bitcoin. The excitement is returning, but most of all; the original building and experimenting mindset that Bitcoin began with has come back as well. We won’t always like everything that comes to Bitcoin, but we will like how it affects the price of Bitcoin.
How about you? How do you feel about Bitcoin becoming more like other blockchains?
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