Pekka Kelkka aka Papa Blockchain here! Welcome to Papa Blockchain uncut web3 education channel.
All kinds of maximalism are cancer in society!. But I must agree on one thing with Bitcoin maxis;
“Let’s not develop any apps on the core BTC protocol.”
The outcome will be disastrous.
… as we are now experiencing because of BTC NFTs i.e. Ordinals.
When Ordinals got population. Minting them got crazy volumes and the BTC network will not manage. The network is stagnated. 500 million transactions pending. Transaction prices are skyrocketing…
Please leave the BTC main protocol in peace. Let it be the best store of value there is… this is Bitcoin’s role!
Another lesson from this Bitcoin/ Satoshi mess.
If BTC NFTs on the chain are not killing the BTC Maxis the next thing probably will;
Already today there are L2 protocols on BTC such as the Lighting Network. The next thing is that developers will develop apps on BTC L2… exactly the same way as on ETH L2s.
Will they function as well as Dapps on Staking protocols’ (PoS) L2s? No, they will not!. Then what will the BTC Maxis say? Is BTC then security as they claim that ETH will be.
I have a clear view on this. Both Bitcoin and Ethereum and other staking (PoS) L1s and L2s will be commodities.
If the outcome of the crazy Bitcoin NFT minting is that finally the entire blockchain and crypto scene will be united this BTC minting craziness is worth it
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