At the end of 2023, the BRC20 inscription $ORDI and $1000SATS in the Bitcoin ecosystem attracted widespread attention, but their popularity has significantly declined now. At that time, as Ethereum shifted to a Proof of Stake (POS) mechanism, the market had doubts about its development prospects. In contrast, Bitcoin, with its underlying security and the BRC20 protocol, is generally regarded as having the potential to develop into an ideal choice for small, secure payments. Many people even hope that Bitcoin can replicate the ecosystem development model of Ethereum.

However, the reality is significantly different from expectations. The opportunities for Bitcoin in the payment sector seem to be gradually diminishing. Theoretically, Bitcoin could leverage its security and privacy features to first establish a payment foundation in specific areas, and then gradually improve the payment system to attract formal international trade connections, ultimately growing into a mainstream payment channel. However, in reality, even those transactions with high privacy requirements are gradually reducing their reliance on Bitcoin.

This phenomenon has sparked deep reflections on the future development of the Bitcoin payment ecosystem. Can Bitcoin break through its current predicament and redefine its role in the payment field? Is there a need for further innovation or improvement of existing protocols to better meet market demands? At the same time, we need to consider how Bitcoin can find a balance between compliance and innovation in the context of an ever-changing regulatory environment.

Despite the current situation being less than optimistic, Bitcoin's fundamental advantages still exist. Its decentralized nature and strong network effects remain difficult for other cryptocurrencies to match. In the future, the Bitcoin ecosystem may need more technological innovations and the expansion of application scenarios to rekindle market enthusiasm and realize its potential as a global payment medium.