DeFi, AI, NFT & Gaming on Bitcoin is a scam?

[bettercrypto]

It depends on what you mean by "on Bitcoin"!

Bitcoin protocol and its smart contracts does not have the option to create NFT, DeFi or any other token. So if anybody is claiming they've created a token "on Bitcoin" and are trying to sell it to you, that's a clear case of a scam.
The best example of it is the Ordinals which is the biggest ongoing scam.

However, there are sidechains available that are tied to bitcoin but aren't actually "on Bitcoin" (more like pegged to bitcoin) that have the protocol for more complex smart contracts and allow token creation. They are not scams.
Off the top of my head I can name RootStock (RSK) as an example of such networks.

will be success

I don't think so.
Tokens existed for years in this world and they have not had any kind of meaningful success so far. Their only purpose have always been to raise funds, scam people and/or be used for pump and dumps. They have served no other purpose in the real world. So we can't really imagine any success for them in the future either, regardless of where they are built.

I agree with what you say: Bitcoin is not really designed to create NFTs or Defi; rather, it is focused on being secure and decentralized. And this is what most governments
in every country hate, right? 

When it comes to bitcoin blockchain, it is limited to processing smart contracts in Defi and Nft, but other blockchains like Ethereum are still considered
the dominant players in the NFT and DeFi space.

[windrunnersylvanas]

It depends on what you mean by "on Bitcoin"!

Bitcoin protocol and its smart contracts does not have the option to create NFT, DeFi or any other token. So if anybody is claiming they've created a token "on Bitcoin" and are trying to sell it to you, that's a clear case of a scam.
The best example of it is the Ordinals which is the biggest ongoing scam.

However, there are sidechains available that are tied to bitcoin but aren't actually "on Bitcoin" (more like pegged to bitcoin) that have the protocol for more complex smart contracts and allow token creation. They are not scams.
Off the top of my head I can name RootStock (RSK) as an example of such networks.

will be success

I don't think so.
Tokens existed for years in this world and they have not had any kind of meaningful success so far. Their only purpose have always been to raise funds, scam people and/or be used for pump and dumps. They have served no other purpose in the real world. So we can't really imagine any success for them in the future either, regardless of where they are built.

I understand your point. It seems there might be some confusion between native Bitcoin capabilities and sidechains like RootStock (RSK), which offer more advanced functionalities without being scams.

absolutely yes. that  is the point and these days I made some researches and now i have a little idea about that anyway. now  i should find out about rootstock

[pooya87]

When it comes to bitcoin blockchain, it is limited to processing smart contracts in Defi and Nft, but other blockchains like Ethereum are still considered the dominant players in the NFT and DeFi space.

It's not that other projects like ethereum "dominate" the token creation space, it is what they are meant to do so tokens are and should be created on these platforms. They just serve no other purpose that being a platform for token creation.

The same with Bitcoin. It is not exactly that it is "limited processing smart contracts". It simply is impossible to create them in Bitcoin protocol because the option is just not there.

[nutildah]

Tokens existed for years in this world and they have not had any kind of meaningful success so far. Their only purpose have always been to raise funds, scam people and/or be used for pump and dumps. They have served no other purpose in the real world. So we can't really imagine any success for them in the future either, regardless of where they are built.

I still don't understand your dedicated persistence when it comes to miseducating people about Bitcoin tokens. Its like you're trying to force your opinion on people with less knowledge by simply ignoring certain realities, which you assuredly must be aware of by now.

Aside from Tether (USDT) - which began on the Bitcoin blockchain - there has been a thriving ecosystem for Bitcoin tokens for years. In addition to vehicles for fundraisers, they've acted as redeemables, collectables, and for website access gating.

Its not even a matter of opinion. You're just wrong.

[FinneysTrueVision]

Layer 2 is the latest buzzword for VC backed pump and dump shitcoin projects. Almost none of these are actual second layers built on Bitcoin. They are usually Ethereum rollups or independent layer 1 blockchains where your BTC deposit is bridged and in return you receive a wrapped token. They of course also have their own tokens that they created out of thin air. These fake L2’s are fully centralized and can rug pull at any moment.

[kotajikikox]

I'm doubt that DeFi, AI, NFT & Gaming on Bitcoin will be success .. What do you really think about these narratives called Layer 2 And Defi on Bitcoin?

I think you are mistaken here. DeFi, AI, NFT and Gaming are not layer 2 projects. They have very different purposes for being on the bitcoin blockchain. Layer 2 projects are created to help ease the amount of transactions in the blockchain that causes congestion and resulting in much higher fees.

DeFi, AI, NFT, and Gaming projects on bitcoin are separate projects that most of the time have no really useful purpose on the blockchain.

[bitLeap]

will be success

I don't think so.
Tokens existed for years in this world and they have not had any kind of meaningful success so far. Their only purpose have always been to raise funds, scam people and/or be used for pump and dumps. They have served no other purpose in the real world. So we can't really imagine any success for them in the future either, regardless of where they are built.

Imagine how careless people are who are interested in Ordinal. Handing over real bitcoins in exchange for junk. Therefore, from the start I never wanted to touch Ordinals and some of the projects that claimed to have created tokens on Bitcoin. I agree Ordinal is the biggest scam that is ruining bitcoin path. I even had a fight with an influencer who kept praising one of the tokens in Bitcoin. To the point that they have tricked many people into handing over their bitcoins. In the end, Bitcoin cannot be touched or mixed with Ordinal rubbish. People who carry tokens in Bitcoin only have one goal, namely to steal Bitcoin from your pocket with the lure of a pump. Moreover, NFTs in Bitcoin are very, very careless if still believe in them.

[highalch]

Any popup of "decentralized AI" or "bitcoin AI" is a scam. Why? Because if someone started building it on the blockchain, he would certainly had to rely on centralized datasources, servers, pretrained models, etc. Storage space is usually so expensive, you cannot store onchain. That's just one chunk of the problem still. Then, how do you execute your AI software? How do you retrain your model? Redeploy terrabytes on the blockchain for millions of dollars every day?

What you see as AI are usually ICO scam networks deploying some shitcoin as BRC/ERC20, throwing in some fancy words and harvesting money from dumb investors. Then disappearing like a snap.

[tygeade]

Imagine how careless people are who are interested in Ordinal. Handing over real bitcoins in exchange for junk. Therefore, from the start I never wanted to touch Ordinals and some of the projects that claimed to have created tokens on Bitcoin. I agree Ordinal is the biggest scam that is ruining bitcoin path. I even had a fight with an influencer who kept praising one of the tokens in Bitcoin. To the point that they have tricked many people into handing over their bitcoins. In the end, Bitcoin cannot be touched or mixed with Ordinal rubbish. People who carry tokens in Bitcoin only have one goal, namely to steal Bitcoin from your pocket with the lure of a pump. Moreover, NFTs in Bitcoin are very, very careless if still believe in them.

That has been the idea that I had since they were created, runes ordinals or whatever, none of those mean anything to me and will never mean anything to me at all. I just need to realize that we are not going to end up with anything marginal. I prefer to keep it as professional as I can and without getting into anything silly.

This isn't always easy but I end up doing whatever I can do without much issues. I know that it is going to take a while for people to realize that, but keeping just bitcoin alone would be enough and there isn't anything wrong with that. I think the best way to move on would be just focusing on whatever you can do, and we could end up with getting a much better result without a doubt, just keep holding long term bitcoin.

[nutildah]

People who carry tokens in Bitcoin only have one goal, namely to steal Bitcoin from your pocket with the lure of a pump. Moreover, NFTs in Bitcoin are very, very careless if still believe in them.

I'm not defending Ordinals - never bought a single Ordinal, BRC20 or Rune and never plan to as most of it is garbage - but don't lump all Bitcoin NFTs into the same category. As long as there is a demand for Bitcoin, there will be a collector's market for "ancient" Bitcoin tokens & NFTs. These include iconic collections like Spells of Genesis and Rare Pepes. Ordinals BS will come & go, but there will always be a demand for these tokens by true collectors.

[OcTradism]

I'm not defending Ordinals - never bought a single Ordinal, BRC20 or Rune and never plan to as most of it is garbage - but don't lump all Bitcoin NFTs into the same category. As long as there is a demand for Bitcoin, there will be a collector's market for "ancient" Bitcoin tokens & NFTs. These include iconic collections like Spells of Genesis and Rare Pepes. Ordinals BS will come & go, but there will always be a demand for these tokens by true collectors.

Other blockchains - altcoin blockchains - can die but Bitcoin blockchain will be here and it will be like a last blockchain can not survive, then die.

NFTs on Bitcoin blockchain for classical and milestone things for not only Bitcoin but also blockchain technology and industry history will have its value which I don't know will last forever or not but not easily become valueless. They will be hunted by some collectors like you said.

Talk beyond NFTs, the Bitcoin Magazine is a famous magazine and the first one in Bitcoin and its first issue is classic and wanted by collectors.
https://en.wikipedia.org/wiki/Bitcoin_Magazine
https://bitcoinmagazine.com/about

Bitcoin Magazine is the oldest and most established source of news, information and expert commentary on Bitcoin, its underlying blockchain technology and the industry that has been built up around it.

https://covers.bitcoinmagazine.com/

[Ben Barubal]

      In the realm of cryptocurrencies and blockchain technology, NFt, Defi, and AI can communicate with and impact one another, but not in Bitcoin. In fact, given my viewpoint and
judgment on the subject, far from it.

     All things considered, DeFi, AI, and NFTs are unique technologies with unique uses. In the future, though, they might collaborate to develop a financial system that is more
inventive and effective.