Debunking the Flat Bitcoin Theory 🧵
In the early days of Bitcoin (2009-2014) there was a massive amount of experimentation and innovation on bitcoin
The first NFTs and cryptoart started on Bitcoin
The first memecoins started on Bitcoin
The first stablecoins and real world assets started on Bitcoin
The first dapps started on Bitcoin
The first DEX started on Bitcoin
The first on-chain governance started on Bitcoin
The first crypto degens were playing Satoshi Dice on Bitcoin
But then the OP_RETURN wars happened and people like
@lukedashjr vilified innovation and scared builders away resulting in a long period of stagnation (2015-2023)
This period of stagnation gave birth to the Flat Bitcoin Theory which infected the minds of nearly everyone
The Flat Bitcoin Theory is a belief held by "Flat Bitcoiners" who think that Bitcoin is a boring blockchain that is not capable of the innovative use cases that we see on alt L1s like Ethereum or Solana
But thankfully in January 2023
@rodarmor burst onto the scene with the ordinals protocol and one by one people have been waking up from this lie and realizing that Bitcoin is actually multidimensional and capable of everything you could possibly imagine and more
Since then Bitcoin has experienced a renaissance of innovation with a new set of builders picking up where the set of OG builders left off
@linzheming from
@dot_swap has defied all FUD and delivered a trustless liquidity pool style experience on Bitcoin L1 for Runes with zero MEV
@stan_havryliuk from
@satsterminal has built an advanced order routing and aggregation engine for Runes trading on Bitcoin L1
@benny_options from
@radfi_btc has revived the Runes trenches with a token launchpad on Bitcoin L1 that thousands of people use every day
@robin_liquidium from
@liquidiumfi built a Runes and Ordinals lending protocol that has processed hundreds of millions of dollars of volume which proves that DeFi can thrive on Bitcoin L1
@domodata and
@0xbinari from BRC 2.0 and
@taggaoyl from Alkanes have been relentlessly pursing a vision for general purpose smart contracts on Bitcoin L1
@TO from Pizza Pets built a fully on-chain multiplayer game directly on Bitcoin L1
@yukanl from @xverseapp built a Bitcoin wallet for interacting with Bitcoin L1 dapps that is so sleek that it puts Ethereum's flagship wallet MetaMask to shame
@huuep from
@onchainmonkey pioneered a new way to store an entire 10K PFP collection on Bitcoin for only $23 that is now widely adopted by hundreds of other Ordinals collections
@sergesats has formed the
@btcartsociety to preserve Bitcoin's on-chain culture for future generation
@nonfungible_jan has dedicated months of his life to ensuring that once a year there is a place where bitcoin builders can gather to celebrate experimentation on bitcoin at
@btc_summit
Massive decentralized communities like the
$DOG Army and Bitcoin Puppets have rallied together to support all of these innovations and champion the Bitcoin ecosystem
Do not ever let anyone tell you that Bitcoin is not capable of something or that you must only use Bitcoin in a certain way
The Bitcoin network is more secure and robust longterm when it is winning at developer mindshare and blocks are filled with a diverse set of on-chain activity
It is up to us, the Ordinals, Runes, and Bitcoin DeFi ecosystem to be stewards of this technology now so go build the most badass applications possible and never stop fighting for innovation on Bitcoin!