[2021-09-19] Bitcoin is great, but real crypto innovation has moved elsewhere

[Woodie]

Bitcoin is great, but real crypto innovation has moved elsewhere

Bitcoin will always be the boss, but the real innovative and groundbreaking developments are happening in layer-2 solutions, DAOs, NFTs with utility and the emerging Metaverse.

Something is brewing, and those with finely tuned noses can smell it. As traders have come to expect, Bitcoin (BTC) is doing “Bitcoin things” by bouncing around between the usual “key” support and resistance levels, and to be honest, it’s all starting to feel a bit boomerish.

Bitcoin’s long-awaited “moon” depended on institutional investor buy-in, breaking the previous all-time high at $19,000, and a set of other firmly held beliefs. Well, all that happened, and the run to $64,900 exceeded many investors’ wildest dreams. But despite this, the entire BTC situation just feels predictable and boring if you are of the opinion that the top-ranked cryptocurrency will eventually top out around $100,000 in the current bull market.

So, back to what else is brewing…

Decentralized autonomous organizations (DAOs) are hot, nonfungible tokens (NFTs) are hot, play-to-earn gaming is hot and the Metaverse is hot.

This is where the real heads are right now — speculating, building, pondering, networking and doing shit that actually matters. And what is unique about those who are really putting in work in the trenches of crypto is that this grassroots approach and bottom-up building trend is leading to some of the space’s most groundbreaking projects.


Read more https://cointelegraph.com/news/bitcoin-is-great-but-real-crypto-innovation-has-moved-elsewhere/amp

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[Lucius]

The same old story is well known to those who remember what happened during 2016 and 2017 when ICO mania plagued the crypto world and billions of $ of investment went into projects that promised a lot and eventually disappeared like soap bubbles. Although it may not be technically correct to compare ICOs, DeFi and NTFs, it seems to me that the same people who got rich on ICOs and similar schemes are behind it again.

While I realize that the average investor is no longer so fascinated with Bitcoin (because of the high price) and is looking for some new opportunities (as some say “new king”), I would still like people to understand that the vast majority of these projects don’t really have a future.


@ETFbitcoin, it’s hard to sell a story with something like Taproot, and I believe that at least 90% of those who write crypto articles have no idea what this is all about.

[UKprod]

To some extent i agree with this news that for obvious reasons real innovation has moved in the Ethereum or BSC blockchains where there are a lot of use cases. Smart contracts are something that have completely changed the way business can be run. It has revolutionized the way the things are supposed to happen. While Bitcoin is the king and the very first blockchain, it has been an amazing innovation in term of P2P payment only. Once Ethereum and BSC got into the game, a lot has changed on how blockchains are seen across the globe.

[NeuroticFish]

Decentralized autonomous organizations (DAOs) are hot, nonfungible tokens (NFTs) are hot, play-to-earn gaming is hot and the Metaverse is hot.

After discovering Bitcoin in 2016, Ray went on to work as the head of content and marketing at a variety of blockchain startups. Aside from swing trading anything that moves and chasing after the next DeFi airdrop, Ray is

I see a "news" written by somebody hunting and doing marketing for shitcoins and such. Why you guys take this serious? It's not news, it's marketing disguised in a news article. Nothing new.
I'm surprised though. Did NFT market already get short of suckers?

[davis196]

"Play-to-earn gaming" seems like another term for ponzi schemes.
Is this considered "cool" and "hot"?
I guess that by "real crypto innovation" the author means greedy pump&dump seekers and potential scammers,who are seeking for easy profits,while pretending that they are creating something really innovative and groundbreaking.
Yes,the Bitcoiners are waiting for the BTC price to hit the moon,but it won't be a disaster,if the price never reaches the moon.Bitcoin is will still be the most reliable and trusted cryptocurrency.

[Kyraishi]

Lmao, this is classic prisoner of the moment thinking.

DAOs have been around for ages and remember the DAO which failed miserably?

You never know what "real innovation" is like until it has happened, and bitcoin still seems primed to make it as the dominant digital global reserve currency. If that's not innovation, I don't know what is.