Share some thoughts on the Bitcoin ecosystem and $ETHS from my recent travels.

The inscription track (referring to the Bitcoin ecosystem, usually referred to as inscriptions, including runes, etc.) has encountered a new round of challenges in the problem of liquidity depletion.

Looking at all the current inscription ecosystems:

“In terms of size, Bitcoin > Ethereum. This is also true in terms of development progress, user base, project size, and ecosystem perfection.”

I like to classify it as the left hand of the market. This information is taken for granted, but the financial market always goes against it.

Behind this left-hand message, I think the overlooked right-hand message is: the explosive potential and replicability of the Ethereum ecosystem.

When everyone is paying attention to the explosion of the Bitcoin ecosystem, it is a reasonable investment strategy to ambush the next step of the market in advance.

👉「Let’s talk about replicability first」

The current Bitcoin ecosystem has tried almost every gameplay that was once available on ETH in more than a year, and is crossing the river by feeling the stones based on the lessons learned from the past.

Gamefi, NFT, Defi, L2... These narratives are nothing more than attempts to replicate ETH's once glorious past on Bitcoin.

Some of these past narratives combined with the characteristics of Bitcoin itself have caused some chemical reactions, some are advancing slowly and quietly, some are short-lived, and of course more are stillborn.

However, for the inscription sector, the success of $ETHS is based on $ORDI and is achieved by trial and error.

Friends who knew me earlier should have known about the derivation article for $ETHS shared before: "A single spark can start a prairie fire"

All the deduction logic at the beginning was also predicted by combining the traffic data of the Bitcoin ecosystem and the data of ORDI. Looking back now, fortunately, it has not failed.

In my opinion, $ETHS is a branch system different from the Bitcoin ecosystem (such as runes, inscriptions, l2, etc., which are all derived from the Bitcoin ecosystem.)

Rather, it is a playable narrative that runs parallel to the Bitcoin ecosystem (similar to Ordi, which is a representative leader of the ecosystem).

“It is not like inscriptions or runes that are products attached to the Bitcoin ecosystem. Instead, it is a product built on ETH that draws on the new narrative of the Bitcoin ecosystem.”

From the perspective of scale, its recovery will be higher than some sub-ecosystem projects of the Bitcoin ecosystem. This is a relatively considerable certainty.

Combined with last year’s $ETHS which ignited a new climax in the inscription market, it also replicated a new market based on a new narrative.

👉「The value that the public ignores - reputation」

The Bitcoin ecosystem is not only a place where you can realize your dream of getting rich overnight, but also a place where you can make a name for yourself.

A year ago, the Ethereum ecosystem was overdeveloped, and the cost of carving out a niche among the numerous projects was enormous.

But the emergence of new narratives means new opportunities. If you can seize the initiative, you can achieve the best level of attention at the lowest cost.

The current Bitcoin ecosystem development projects have already reached a basic level, while Ethereum inscriptions have become a new pure land.

When some up-and-coming companies in the Bitcoin ecosystem don’t want to be entangled in numerous projects, Ethereum inscriptions have become a shortcut.

Just like many projects gave up the battle in the Ethereum environment and came to the Bitcoin ecosystem to open up new areas. Although the technical cost is high, the market cost is extremely low. After all, the Bitcoin ecosystem is easier to survive (stand first, then think about making money)

At the same time, some second-rate project owners who are trying to make money by cutting leeks also understand this truth. After flocking to it, they draw away a certain amount of market liquidity when the market is bustling.

At present, the first stage of development of the Bitcoin ecosystem has reached saturation. In contrast, the Ethereum ecosystem is a pure land in comparison.

As new people start to join the construction, no matter what the outcome or purpose is, it will undoubtedly drive the growth and attention of the leading projects. For the project owners, it can also earn a certain amount of volume and attention (even if they don’t make money).

👉 "Natural advantages"

As mentioned in previous articles, there are certain differences between Ethereum’s inscriptions and Bitcoin’s ecology. As a natural advantage born with smart contracts, its development costs are also considerable for builders.

At present, although the market cost is high, as time goes by, when the Bitcoin ecosystem explodes, the current builder projects can attract considerable attention with extremely low promotion costs.

The derivative funds of the Bitcoin ecosystem will spill over to other narrative tracks as before. It depends on who can clean their shotguns in advance and be ready to go.

At present, Ethereum inscriptions are gradually becoming the focus of mainstream attention. The brilliance of runes and SOL has made many people lose their attention to $ETHS, but it does not mean that no one is building and paying attention to this track.

Projects with low attention can actually create value continuously, while popular projects do not have the sustainability of dissemination and therefore often fail.

The $ETHS ecosystem currently under construction just lacks an opportunity to be seen (it needs traffic spillover under the big trend, such as the new high of $ORDI and the re-explosion of the Bitcoin ecosystem. In comparison, the price-performance ratio of $ETHS is extremely suitable).

👉「After talking about replicability, let’s look at the potential for explosion」

All current ecosystems are suffering from liquidity issues. Ethereum, once a noble chain, now has less traffic on social media than SOL.

Therefore, from the perspective of project development, finding new narratives and increments is also the main way of self-rescue.

When Inscription first became popular on Bitcoin, Ethereum’s timely embrace of it, although it could not completely solve the urgent problem, did bring about a certain amount of growth and attention.

When the expectations for the ETF end, it will be necessary to find good targets from some potential narratives in the past to support it.

If the Bitcoin ecosystem experiences explosive growth by then, absorbing the Bitcoin ecosystem model and developing new narratives such as inscriptions/runes on ETH may not be a disproportionate growth.

With the help of the ETF expectations and the Bitcoin ecosystem ready to go, Ethereum, which is on the same track, can be said to have gathered all the right time and place in advance, and only lacks the right people.

The 2021 epidemic pressed the pause button for the entire world at the same time.

But for those who want to seize the opportunity, the huge impact of the epidemic has also brought a new reshuffle. Everyone is at the same starting line.

While others are focusing on daily growth, we choose to clean our hunting rifles in advance. The moment spring arrives, we set out immediately to fire the first shot of spring.

The inscription ecology at this moment is just like the epidemic period of that year.

Looking forward to the first gunshot of spring🐦

#eths#ordi#ordinals#brc20#RUNE #BT#blockchain[Super Topic] #币安7周年