President Donald Trump’s unexpected Solana memecoin debut has sparked many comments. The news and stunning performance of TRUMP in the days leading up to his inauguration have all but declared a new era for our sector, stating that the rules have changed. In all the turmoil, uncertainty, and hot takes, did Bitcoiners fumble the bag?
Bitcoin’s Runes and Tokenization
Last year, a major change occurred on the Bitcoin network at block height 840,000, not the halving. Etching and trading fungible tokens on Bitcoin became possible with the Runes meta protocol. This event had a record volume, and the message was briefly sent to thousands of sats/vb. While the craze was short-lived, Runes and the first product-market fit showed.
Bitcoin could draw considerable funding for the tokens and meme coins use case, currently dominated by Solana, Base, and Ethereum. Beyond the temporary spike, Bitcoin miners may have profited from higher transaction fees, and the urgency of eliminating network congestion may have accelerated progress toward faster, cheaper Bitcoin transactions. Bitcoin would be used and understood by more individuals.
Bitcoin Community Divided
The issue divided our community deeply. Some worriedly called Bitcoin Runes and token advocates “shit-coiners.” These criticisms typically arise from a genuine desire to preserve Bitcoin’s purity. Bitcoin Missed Opportunity, How about channelling this passion into a constructive, Bitcoin-aligned framework instead of ignoring these developing trends?
An honest exploration of pragmatic alternatives to meet demand responsibly could reveal a way to meet Bitcoin token demand. Perhaps we spent months advocating for a sleeker UX, enhanced functionality, and innovative on-chain harm reduction. We left these potential users to market competitors.
Bitcoin Misses $TRUMP Opportunity
If we had anticipated and prepared for Bitcoin to attract economic activity from other chains, we would have been better positioned to encourage yesterday’s $8.5B of $TRUMP transaction volume and nearly 1M new users to use Bitcoin instead of Solana. Many claim “meme coins are not a business, and that type of degeneracy has no place on Bitcoin,” yet ignoring this economic phenomenon means we are losing the chance to onboard millions more Bitcoin users.
PTSD from rug pulls, ICOs, and pump-and-dumps may limit our imagination. The direction and termination of this unusual economic activity are unknown. Bitcoiners thought DOGE would be dead by now, but it has a $54B market cap and is nearing its 10th year. Whether you like them, “meme coins” may become part of the emerging economy.
TRUMP’s Long-Term Commitment
I don’t know the plan for $ TRUMP, and many things could go wrong. The fact that the 80% “pre-mined” supply is locked for three years suggests a refusal to “pump and dump.” Bitcoin Missed Opportunity, That implies a three-year commitment to develop value.
A high-profile individual’s meme coin may now reflect their performance or popularity in the eyes of the masses, comparable to a stock moving based on important news or a company’s quarterly results. This thesis states that the best meme coins will be stewarded by people and teams with aligned motivations with their holders, as publicly listed firms care about their shareholders.
Bitcoin has always thrived when its community addresses difficulties creatively and passionately. I want to see how Bitcoin can build a better token ecosystem based on security, transparency, and user empowerment under a Bitcoin standard, not just meme coins. Instead of missing the forest for the trees or throwing the baby out with the bath water, a more entrepreneurial strategy to meet meme coin demand sounds appropriate
Summary
Bitcoin is missing out on more than DOGE and TRUMP’s $100B market cap. We also lose the mindshare of the millions who engage with these initiatives. The creativity of developers who build on them and the narrative that escapes us when alternative chains grab considerable market share that Bitcoin seems unable or unwilling to acknowledge. Bitcoin can remain the toughest money and the foundation of a dynamic economy by embracing innovation and deliberately addressing these changes without compromising its essential values.
FAQs
How did Bitcoin adapt with Runes and tokenization?
Bitcoin's integration with the Runes metaprotocol allowed fungible token creation, introducing new use cases for Bitcoin.
Why is the Bitcoin community divided over tokenization?
Bitcoin enthusiasts are torn between preserving Bitcoin’s purity and exploring tokenization to meet new market demands. This division reflects the evolving debate on Bitcoin's future role.
What opportunity did Bitcoin miss with $TRUMP’s memecoin?
Bitcoin could have attracted millions of new users from $TRUMP’s memecoin but missed the chance as the activity shifted to other blockchains.
Why should Bitcoin embrace innovation in memecoins?
Embracing memecoin innovation can help Bitcoin stay relevant and attract a broader user base. By evolving without losing its core values.
