The Bitcoin industry is experiencing a shift in narratives as the hype around token airdrops and Ethereum’s EVM technology begins to fade. Recent developments have highlighted the flaws in the current scaling proposals and the misalignment of economic incentives in the industry.
Token airdrops, once a popular method of incentivizing users, are now being exploited by well-capitalized actors who are impersonating users to benefit from the rewards. This has exposed the fraudulent nature of these assets and the lack of security in pseudonymous systems.
Furthermore, Ethereum is facing an identity crisis as more than half of current scaling proposals for Bitcoin are planning to use Ethereum’s EVM technology. With Ethereum experiencing internal debates and fragmentation, the future of its rollup-centric roadmap is uncertain.
As the industry grapples with memetic exhaustion and shifting narratives, emerging Bitcoin layers are struggling to keep up with industry standards. Those who choose to put in the work and learn from the mistakes of others may have a better chance of success in the long run. Patience and diligence are key in navigating the rapidly evolving landscape of the Bitcoin industry.
