Part.1 Bitcoin Ecosystem is a Long-term Narrative
For a long-term coin, the holding logic should always be independent of the short-term price. When a coin is at a high point, if you choose to believe in a narrative, you have to think about whether this narrative can still convince you if the price drops to 10% of the current price? If not, perhaps you have to re-evaluate the persuasiveness of this narrative.
There is a part of the narrative that is like this. This narrative is only effective in the current price range. If it falls, it means that this narrative is invalid. There is also a part of the real "narrative". Regardless of whether it rises or falls, as long as there is no fundamental change in conditions (such as the project party running away, black swan events), then its narrative can be completely independent of the price.
Temporary narratives are mostly used to boost fomo sentiment. Once it falls, people have ten thousand reasons to disprove it (perhaps before that, they can try to disprove every narrative in order to give themselves an objective investment idea); and what we call reliable and sustainable narratives - people use it to fuel the fomo sentiment, and use it to strengthen their beliefs when it is fud, and even when it is ordinary, people will fomo as soon as they hear it... However, it should be noted that even if such narratives are really independent of price, they will inevitably be overly beautified when it is fomo, and covered with some fake hats when it is fud.
If you are a long-termist, when choosing to hold tokens for a long time, you should try to avoid temporary narratives (even if it is sometimes really difficult to identify), and choose those narratives that seem to be independent of price and naturally produce persuasiveness. Take Bitcoin as an example. If it crashes to 20,000 tomorrow, I can still tell you with confidence that it should be 1 million in a few years - no explanation is needed.
Bitcoin is very simple, and everyone understands its "eternity". But now simple things are becoming less and less, and it is difficult for us to understand how long the narrative of a thing can last.
The currency circle is ultimately a huge makeshift team that uses seemingly complex things to fool people. Some people say that no matter how Bitcoin goes, the end result is an increase, and no matter how the altcoin goes, the end result is zero. Reasonable, this is how a makeshift team works.
However, there is something different, that is, the "Bitcoin ecosystem". It is complicated, but not that complicated. It is nothing more than using Bitcoin and empowering Bitcoin. Everything is related to Bitcoin, everything is the other side of Bitcoin, and everything is to make Bitcoin better. From Bitcoin, to Bitcoin.
The five words "Bitcoin ecosystem" are firmly believed by me to be a reliable long-term narrative. You can disprove the inscription, you can disprove the second layer, and people have reasons to disprove every trend that becomes popular on Bitcoin. But it is difficult for people to completely disprove the five words "Bitcoin ecology".
How to define "Bitcoin ecology"? If someone calls something Bitcoin ecology, but when more people play Bitcoin or Bitcoin rises, it has nothing to do with this thing, or when this thing develops well, it cannot generate any value for Bitcoin itself, or even harms Bitcoin - then Bitcoin does not need it, it is meaningless to Bitcoin, and this cannot be considered a part of Bitcoin ecology, it can only be considered as a free ride on Bitcoin. The remaining models that are truly meaningful to the development of Bitcoin will constitute a complete and long-term continuous gameplay that will not be lost from the Bitcoin mainnet.
Even if all the projects in the "Bitcoin ecology" today really go to zero in the end, the charm of these five words themselves will make it a prairie fire at a certain moment in the future of the blockchain in a certain year. Look, this is a narrative independent of price.
Besides Bitcoin, various public chains want to disprove each other, various memes want to disprove each other, and various projects are also proving to each other why they are necessary and others are not. Only Bitcoin, you can't disprove it. Bitcoin and everything around Bitcoin will get better and better, it only takes time to prove it.
Human technology will surely progress, medical care will become more and more perfect, the Internet will become more and more prosperous, people's lives will become happier and happier... In addition to these parallel sentences, you can add a sentence, Bitcoin will get better and better. Then what about everything around Bitcoin? It won't be bad.
So, if the end point of the copycat is really to return to zero, the end point of the Bitcoin ecosystem is the revival of all things, the prosperity of singing and dancing, the return of all rivers to the sea, and the light of the road.
Part.2 Atomicals are deterministic opportunities that are within sight
We have discussed why the narrative of the Bitcoin ecosystem can last, even "eternal". Then, how to find your own deterministic opportunities in the "eternal narrative" has become a question we need to consider.
The simplest way is to substitute everything that web3 already has into Bitcoin——
Everyone is playing with asset issuance outside, how is it better to issue it on Bitcoin?
DeFi is booming outside, how to implement DeFi on Bitcoin?
There are smart contracts outside, which projects on Bitcoin can be programmable?
What are the various ways of playing GameFi, DAO, and DID out there? Can we play them all on Bitcoin?
A sloppy answer: It should be possible, anyway, Bitcoin is the end point. The seemingly sloppy answer is also the initial answer of the public, so various sub-ecosystems and sub-projects have appeared on Bitcoin, trying their best to meet the needs of the market.
At the same time, more people have focused their attention on the Atomicals ecosystem.
Atomicals is not a project created by someone one day. Instead, it is the inevitable path for Bitcoin to mature in its development - all the gameplay concepts such as colored coins, Bitwork, AVM, Realm, etc. are things that will naturally appear as Bitcoin develops to this day, but it just happens to be named "Atomicals".
If it were me, I would name it "Bitcoin Application Ecosystem (Also known as: Atomicals)".
According to what we said above, copying what web3 already has, I think this idea is actually not completely correct. Imitation can never surpass, it will only make the imitated successful. So it is better to say that people like to see the comparison under imitation, and the resulting heat eventually achieves a generation of innovation.
Today, issuing coins on Bitcoin, doing Defi, playing NFT, or playing did... are all the same old things. There must be a market, but the "paradigm innovation" brewing behind these markets is the real new blue ocean. It is these "old" things that give people the opportunity to flock to them - so innovation will no longer be buried.
Because of the DeFi story, perhaps people will pay more attention to AVM, and then feel the new flexible and scalable blockchain world of 0 and 1 opened up by "coloring + decoloring";
Because of the popularity of coin issuance, perhaps people will understand colored coins and one coin one satoshi, and then see that we can "hold and empower" Bitcoin while enjoying the pleasure of playing with new coins;
Because of the gameplay of mining, perhaps people will get involved in this kind of mini POW that every household can participate in, and let the charm of BitWork influence the public;
Because of the use of DID, perhaps people will find that Realm is a brain-opening idea that can completely reconstruct traditional DNS.
…
Finally? There will be DeFi, coin issuance, didi, socialfi, gamefi, dao, etc., but what really makes the Bitcoin ecosystem and makes the ecosystem forever an ecosystem is new things, things that are only representative on Bitcoin. Because of all the things that people "originally wanted to play", people finally participated in a wave of Bitcoin ecological change unintentionally.
Atomicals is the first time that Bitcoin's "playability" has been maximized since the Taproot upgrade two years ago. Why has no one done these ecosystems in the past ten years? Innovation on Bitcoin is facing countless conservatives, and it takes a long period of time to change the basic environment. This kind of innovation soil conditions have only been available in the past two years. Today's ecosystem is the result of the right time, right place, and right people - Don't think you are participating in a small agreement. Atomicals is completely different from those "seemingly ecological but actually a project" gadgets. It is developed for Bitcoin itself, increasing Bitcoin's own use cases, and is truly loyal to Bitcoin and cannot leave Bitcoin's strong binding ecosystem.
Atomicals is an ecosystem that can really make a big fuss about "narrative persistence". In some current "protocol" ecosystems, you have the same reason to FUD the entire ecosystem, saying that others are not good. But if you come to Atomicals FUD, I think you can only FUD a certain sector at a time. Do you think colored coins are not good? Or do you think Bitwork mining is not good? Or do you think the domain name Realm is not good? Or do you think that the NFT issuance method DMINT is not good?
Many people think that they are playing a "sub-project" under the Bitcoin ecosystem, but in fact, Atomicals is naturally independent of Bitcoin. We are tired of using those old words - native, orthodox, halal, authentic, fundamentalism. In such a large ecosystem, colored coins are an ecological module, mining coins can also be regarded as an ecological module, domain names can be regarded as an ecological module, and AVM smart contracts are another ecological module - this is what we call "Bitcoin application ecosystem (also known as: Atomicals)".
You can say that a sub-forum under Atomicals is not attractive enough, but it is hard to say what is wrong with the new programmable, scalable, flexible and highly playable "new era of Bitcoin applications" composed of "coloring" and "decoloring"? The general direction is correct. As for the programming method, mining method, trading mode and even community culture, all details are gradually optimized under the big framework and will eventually get better.
Look, when Quark was 130, I also spoke and wrote like this. Now Quark is 30+, and I still insist on saying this. At that time, the highest price of Protocol Dragon One Atom was about 15,000, and now it is 3,000+. This one or this kind of narrative has run through different market sentiment states and different capital rotation cycles at high and low levels.
Why does my logic remain unchanged when it falls? The decline in the past was mostly due to the environment, and as for my original intention to stay:
I don’t just believe in a certain token, I believe in these upgraded colored bitcoins.
I don’t just believe in a certain founder, I believe in every builder who wants Bitcoin to be better.
I don’t just believe in a certain application function, I believe that Bitcoin will enter unlimited expansion in the simplest way.
I don’t just believe in a certain project, I believe in the ecosystem that Bitcoin should have.
What is the market’s attitude? It doesn’t matter. No matter how windy or rainy it is, I will remain unmoved.Little did we know that we may have stood at the turning point of history.
Cheng Yuan
JinseFinance
Alex
M6 Labs
Nulltx
Bitcoinist