Bitcoin L2s compete in the same narrative landscape with other alt L1s:
- Smart contract platform
- Faster/cheaper
- Privacy
Will be interesting to see if Bitcoin L2s absorb market demand for those narratives.
L1 transactions getting more expensive on Bitcoin has been the plan since almost the beginning. Those claiming ordinals are "crowding out" normal transactions are either being dishonest or dumb. Bitcoin was always going to be a marketplace for different transaction types.
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