Many are talking about Nostr and some show great excitement while others think its a passing fad.... Which phase are we in now (5 phases of Hype cycle)?
1- Technology Trigger29.3%
2- Peak Inflated Expectations28.0%
3- Trough of Disillusionment4.9%
4- Slope of Enlightenment12.2%
5- Plateau of Productivity1.2%
Its a very BIG deal 17.1%
Na..just another passing fad7.3%
82 votes \ poll ended
Thanks for sharing as I dont know how to upload images on SN :)
I expect the peak expectations will coincide with the next bull cycle event around the next halving in 2024.
At that point I think Bitcoin-only versions of all the useful ethereum “defi products” will be built on Nostr as “layer 3”. At that point, ethereum devs will dump on everyone, in what will be remembered as the largest pump n dump scheme of crypto history.
Nostr will enable layer 3 on BTC. Remember, DAOs are just multi-sig.
Layer 3 = Layer 1 + Layer 2. Nostr = Schnorr signatures + lightning payments
That is an interesting take (L3) ....
We know the use case for L2 (such as LN) but what would it be for L3?
L3 are mechanisms like markets, auctions, bargaining, multisig transactions, debt/credit or other kinds of social conventions backed by mathematics that lead individuals or groups to performing payments over L2 or L1
I honestly think people are hyping this beyond its current limitations, which I guess it's okay, but we have to understand that it's a very recent technology. Bitcoin is around 14 years old and it still hasn't gotten to the mass (worldwide) adoption phase, but maybe social media is more important to people than money so Nostr may reach that quicker?
Who knows, it's a cool technology and I love seeing how people are actually building things on top of it, progress is being made, I just always keep the fact that we're at its infancy in check
Is just another passing fad, like that "internet" thing.