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12 sats \ 4 replies \ @grayruby 1 Sep \ on: I Need Someone To Explain This To Me Like I’m A Child… BRC-20 Brings EVM to BTC AskSN
What happened to the BitVM project? I don't think anyone in Bitcoin cares about whatever stupid things they can do by interacting with EVM. Ordinals, Runes, BRC20 were all a fad and have ultimately been failures. Stablecoins can run on lightning now. You can tokenize assets on liquid. Ark does whatever ark does. Everyone is trying to fit a square peg in a round hole that there currently isn't demand for.
In summation. Ethereum is a stupid, complex, poor version of AWS and is a waste of time and capital thus any project trying to interact with it is probably also a waste of time and capital.
Is there any specific reason you see that companies have been so interested in building on ETH then?
As someone who doesn't think of BTC as anything other than BTC could this EVM compatibility have companies build in the BTC system instead of ETH?
For instance this OG Bitcoin wallet that's funneling into ETH now…
https://ambcrypto.com/a-legendary-bitcoin-whale-just-made-a-3-8b-bet-on-ethereum-details/
If BTC could do all the stuff ETH can do tokenization-wise wouldn't companies want to do it where they are already investing?
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They haven't been. That is a completely false narrative peddled by crypto people. There are some companies doing small tests on Ethereum but all the major announcements from google, stripe, circle, tether etc have been about building their own layer ones or using private databases.
The only real example of building on ethereum is Base and no one uses that for anything but trading memecoins and shitcoins.
Stop listening to Tom Lee and Joe Lubin. They are grifters.
Ethereum's problem, besides not really having product market fit for anything built on it besides degen trading, is it is trying to be too many things a one time. It wants to be a store of value, a utility token, a global database, a smart contracting platform, a yield bearing asset, and stay meaningfully decentralized. It wants to keep builders, users, stakers, investors, traders, scammers, regulators, insiders all happy at once.
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Robinhood and Republic are building their chains, in an odd move to me, on Avalanche… would there be a reason for that?
eToro I know made news about using ETH but I want to say they were going to use an L2
Lol I haven't even heard of the second guy 😂 was the first guy the one who did Litecoin?
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I am just pointing out the narratives being peddled by influencers who get their talking points directly from the Ethereum foundation don't match what is actually occurring. By the way did you see the EF was offering a million dollars to influencers to promote their narratives.
Every one in crypto is perversely incentivized. So is wall street.
I do think tokenization will occur but most of it is not going to happen on ethereum. Wall street will keep it behind their gates.
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