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Bitcoin Smart Contract Integration is FUD

ID:NKMCb3eG No.43059046 View ViewReplyOriginalReport
The bitcoin smart contract integration WILL be game changing. But it is not the real prize.
In reality, the only thing holding Internet Computer back is true smart contract functionality. In its current iteration, canisters cannot hold, or transact, ICP tokens with the same freedoms as a private address. For this reason, although a number of DeFi solutions have begun development, true DeFi functionality is still not possible on the Internet Computer.
On Ethereum, the entire DeFi architecture had to built live from the ground up, suffering all the risks and hacks that come along with that process.
By temporarily repressing DeFi, Dfinity is able to organically keep the price low to enable rapid development of essential infrastructure. Changing over the canister specification to allow deft-like token transactions is basically as simple as throwing a switch.
Whether you believe the hype or not, at the very least, Internet Computer token price has been repressed mainly because of a lack of deflationary pressures DeFi creates on fee-burning tokens like ethereum. That means that once these protocols are enabled, you can expect the entire L1 cycle to play out on ICP. DeFi primitives, NFTs, L2... all of this will repeat again on the internet computer.
You can take or leave the globohomo conspiracy theory. But smart money knows that at a minimum, you've got a whole crypto development cycle ahead of you. Look at AVAX and SOL. same story, same % gains.