Inscription Circuit Risks and Opportunities

Source: Daoshuo Blockchain

In the Twitter exchange last Saturday, I felt that the responses to several questions were not detailed enough, so I would like to share them in detail in this article today. Here are my views on a few issues.

A reader left a message asking what is the biggest risk for us at the macro level this year?

I think that at the macro level, there will not be too much risk in the crypto world, or even if there is a risk, it is not a big deal to us. On the contrary,at the micro level, as individuals we will There will be great risks.

From a macro perspective this year, the most black swan events will suppress currency prices, but no matter how black swan they are, we only need to hold on to the Bitcoin and Ethereum in our hands and not panic and choose the right path because of these accidental events. If you simply throw away the chips in your hand, there is nothing to worry about. The next step is to wait for the bull market to come and reap the fruits.

At the micro level, we as individuals may face greater possibilities of "flexible employment" this year. In this case, we must think carefully about how we should deal with it and how we should respond if this grain of sand of the times falls on our heads.

I hope that every one of my readers will have a smooth life and turn bad luck into good luck this year.

During the communication process, many readers mentioned issues related to inscriptions, especially the risks that inscriptions may encounter. News just came out on Sunday: the "modification" plan for the inscription proposed by Bitcoin developer Luke was shut down. So at least for a while, everyone will no longer argue about this issue.

In the future, as the inscription ecology becomes stronger and stronger, I think this risk will only become smaller and smaller, so everyone does not need to worry too much about this risk for the time being.

As for BRC-20, I am currently more optimistic about ORDI and SATS, which I also hold. For the leading currency, I am not sure how much the price will increase in the future, so it is difficult to judge whether it is worth buying now, but I suggest that users who already hold it should not be greedy for a small profit and go back and forth in the swings. Don't worry too much about the drop in currency prices and panic sell. Instead, keep them in your hands until the middle and late stages of the bull market before liquidating them.

A listener asked what they think about domain names?

My current feeling is that whether it is the various domain names in Ethereum (such as ENS) or the various domain names in Bitcoin (such as btc), at least so far they are useless---food It's tasteless and a pity to discard.

For these domain names, I suggest you just buy some and keep them for your own use. Be cautious if you buy too many for investment.

Bitmap was also asked by many audience members during the exchange.

I have always been optimistic about this project.

First, because this project is creative, it anchors the Bitcoin block, the most natural and native “asset” in the crypto ecosystem.

The second is that it forms a spontaneous ecology. In this ecosystem, there are a large number of project teams actively developing projects and actively issuing assets around this protocol. In the beginning, the development of these project parties may have been just out of interest or emotion, but now, this approach has also begun to bring traffic and popularity to the project parties themselves.

These two factors have created a strong community for this project and gradually established a certain ecological threshold, and this threshold will become more difficult to surpass in the future.

Although imitation disks of this project have appeared in other protocols and other ecologies, I think it is difficult for these imitation disks to compete with Bitmap ecologically.

So I basically don’t pay much attention to the imitation disk in this project. I think the possibility of the imitation disk winning is getting smaller and smaller.

Of course, does this mean that Bitmap is a successful project?

I think it’s too early to say that at the moment.

Because so far, whether it is the project itself or its ecology, it is only because of some relatively positive signs that have given users a strong expectation, and for this expectation to be realized, real projects still need to be implemented. There needs to be an application that users use frequently. But this app has not appeared so far.

If this type of application cannot appear for a long time and this expectation cannot be fulfilled, then no matter how high everyone's expectations are for it now, they will be disappointed by it in the future.

This is a risk that everyone should pay close attention to when observing this project.