Ordinals, lightning and the future of bitcoin

Explore the future of Bitcoin with Ordinals, Lightning, and more. Discover how these innovations could revolutionize transactions, attract new users, and drive the adoption of Bitcoin as a global currency.

Key takeaways
  • Lightning is a prime example of a layer 2 solution that allows for fast and cheap transactions on the Bitcoin network.
  • Ordinals, a new technology that allows users to inscribe data onto the Bitcoin blockchain, has generated a lot of excitement and could potentially bring new users to Bitcoin.
  • The block size debate, which centered around how to scale Bitcoin, resulted in the consensus that scaling should occur in layers, with layer 2 solutions handling most transactions.
  • Bitcoin’s market capitalization is 2.5 times that of Ethereum, indicating a significant amount of capital invested in the network.
  • The next Bitcoin halving, which is expected to occur in less than a year, could have a bullish effect on the price of Bitcoin.
  • Mass adoption of Bitcoin could lead to increased transaction fees on layer 1, making it inaccessible to lower-income individuals.
  • The use of Bitcoin as a store of value, similar to gold, could make it less volatile and more attractive to institutional investors.
  • The integration of DeFi applications on Bitcoin, such as lending, borrowing, and yield farming, could attract users from other blockchains.
  • The development of new layer 2 solutions, such as sidechains and drive chains, could provide additional scaling options for Bitcoin.
  • The enthusiasm surrounding Ordinals and the potential for NFTs on Bitcoin could attract new users and developers to the network.