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Comment by rawtxapp | Hacker News Reader

Bitcoin is the reason we have Ethereum in the first place, so I'm not sure if your statement is fair. ICOs were a pump-and-dump fad. DeFi is proving to be useful and there are already DeFi projects coming up on Bitcoin (rsk, sovryn) and the jury is still out on NFTs.

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That’s kinda what we heard about Lightning and payments, but we can currently see that there’s more BTC on Ethereum, than there is BTC on Lightning according to http://btconethereum.com.

I doubt there’ll be any significant value locked in RSK/Sovyrn, when most of the liquidity is on Ethereum. Plus, it’ll take time for BTC developers to learn Solidity, and most of the DeFi network effect will be on Ethereum and other EVM compatible chains.

I agree with you on the network effects of eth having most developer mindshare, but one thing to keep in mind about lightning is that a lot of end-user channels are private, so if you're just counting the number of channels or liquidity locked up on lightning as growth, you won't see the full-picture.

The Bitcoin smart contract landscape is impoverished. Rsk is a custodial service which has somehow convinced people it is "on Bitcoin". When you use Rsk, your Bitcoins are held by these 11 companies: https://www.rsk.co/powpeg/ (their private keys are held in a special "tamper-proof" box).

Check out STX - Stacks on bitcoin as well

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