NFTs and DeFi on Bitcoin. Bitcoin Tech Talk #279
NFTs and DeFi have had their hype during this cycle and of course, there’s always the question that people will ask. Can we get X on Bitcoin? It’s usually an argument from well-meaning Bitcoin enthusiasts who want to argue against the case for some other coin that’s been able to get a lot of marketing buzz through the introduction of said thing.
It’s easy to argue that such a thing is technically possible. Certainly, you could do something like a non-fungible token and collateralized lending as an excuse for issuing new tokens on Bitcoin. It probably would surprise people to know that both were possible on BTC back in 2013.. Yet, technical feasibility is missing the point. There’s a reason why these products aren’t on Bitcoin and that’s what I’m writing about today.
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