The launch, short term performance and failure of SatoshiVM was unironically bullish. I know that sounds dumb but hear me out, cause it proved several things to me.
1. The Launch. You don't launch scammy forks/derivative etc projects on poor narratives. You pick the strongest narrative and launch your scam on that. They chose BTC L2.
Narrative strong ✅
2. The Performance. Sure it was an insider, KOL scam play, but the retail demand was there. Retail was hungry to buy into the narrative and BTC L2's.
Retail demand ✅
3. The Failure. The crash and burn was magnificent in how quickly and savagely it happened. This only adds further value to the legitimate BTC L2's and L2 projects moving forward.
Legit Value Prop Reminder ✅
...
Stacks, Botanix, BoB and Sovryn
1. The Launch. You don't launch scammy forks/derivative etc projects on poor narratives. You pick the strongest narrative and launch your scam on that. They chose BTC L2.
Narrative strong ✅
2. The Performance. Sure it was an insider, KOL scam play, but the retail demand was there. Retail was hungry to buy into the narrative and BTC L2's.
Retail demand ✅
3. The Failure. The crash and burn was magnificent in how quickly and savagely it happened. This only adds further value to the legitimate BTC L2's and L2 projects moving forward.
Legit Value Prop Reminder ✅
...
Stacks, Botanix, BoB and Sovryn