What is the current status of Bitcoin ecological development? FAQ

1. The Bitcoin ecosystem has been quiet recently, including CKB, STX, etc. Is it because all the funds are chasingthe Ethereum ecosystem? I think the main reason for the silence is not to pursue other ecosystems, but that the Bitcoin ecosystem has not developed a very powerful and innovative application ecosystem so far. This application ecosystem is not imitatingthose old applications of Ethereum, but innovative new applications. Now the Bitcoin ecosystem has actually begun to take shape, and there are not too few applications in it, but most of them are basically applications that imitate the Ethereum ecosystem. Such a model can give people hope in the initial stage to attract funds, but over time, without their own innovation, funds will gradually get tired of it and attention will gradually fade. Whether the Bitcoin ecosystem can thrive or not, I still have the same view: it depends on whether developers in the Bitcoin community can build innovative new applications. 2. How about the AI ​​track? I have written several articles specifically about the AI ​​track before, including my overall views on the track and sharing my views on some popular projects in this track. Generally speaking, except for a few projects that I think are slightly related to AI, I don't like most of them. 3. Are there any recommended sections in Farcaster that I can follow? I can’t recommend it, I don’t recommend any section. But the sections I pay attention to include base, degen, gaming, memes, zk, and zora. 4.Atomical released the AVM white paper. Does it mean that the Bitcoin network has implemented smart contracts? What do you think of this agreement? What do you think of the STAMP protocol? I took a quick look and it still has limitations. Due to the limitations of mainnet technology, it is impossible for Bitcoin to achieve Turing completeness like Ethereum in terms of both security and functionality. I don't see any possibility of a breakthrough in this regard in the short term. This determines that the functions that Bitcoin wants to achieve cannot be as perfect as Ethereum. It needs to find an application ecosystem that suits its positioning. In addition, I still want to emphasize my point of view: the focus and emphasis of the current development of the Bitcoin ecosystem should be vigorously shifted to applications. If there are no breakthroughs in applications in the future, this round of hard-won momentum may be missed. I was very optimistic about the STAMP protocol earlier. In theory, it is more secure than the inscription. But its problem is that the construction of the application ecosystem is too lagging, much worse than the Inscription community, and it has missed the great opportunity and momentum. Except for the niche players in the community who are amusing themselves, this agreement has not been implemented until now at least. So far it has not received wider attention. 5.How about ONDO? If I understand correctly, this is a project of the RWA circuit. I'm not very interested in this track, and I don't pay much attention to this token. 6.What about Metis? This project is actually not low in terms of market value, but I like this project very much. It is a very unique two-story extension. The main reason is that it is committed to decentralizing the sequencer. I think this is a very important step for the long-term and healthy development of the Ethereum second-layer system, and it is also a very important means to benefit and empower tokens. This matter has no harm to the ecology, and the only impact is the project's own small interests. Now it seems that except for Metis, none of the other well-known second-tier extensions have taken any action in this regard. At most, some are just talking about it without taking any actual action. 7. If you want to use stablecoins for financial management, is there any risk in USDT? I'm not sure what kind of financial management the "financial management" here refers to. If it's a centralized exchange, I won't go there. If it's a lending application on the chain, I think it's okay. I never take USDT for large stable coins, I never believe in it.

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