This bear market has been exciting from a development standpoint. #[0]​ was right in his famous article "Bitcoin is The Mycelium of Money".

During the bear market exciting projects have emerged such as:

- Cashu

- Fedi (Fedimint)

- Wabisabi

- Ark

- Nostr (Its protocol has implications for the Bitcoin ecosystem)

- Joinstr (An example of the implications of the Nostr protocol on Bitcoin)

- Magic Webstore

- Nostr Market

- Civ Kit

- Liquid Boltz (Atomics Swaps between Liquid <>Lightning)

- Jade

If you notice there are two clear links, the first one is Chaumian eCash, the ideas of David Chaumian, a pioneer of electronic money have resurfaced, and thanks to this, projects like Cashu, Fedi (Fedimint), Wabisabi (the decomposition of the amounts was based on the Chaumian eCash system) and Ark have flourished.

The second common nexus is Nostr and here we have projects like Joinstr, Nostr Market and Civ Kit.

From my point of view, it has been the most fruitful bear market in terms of development, because we are finally attacking two big problems of Bitcoin, privacy and scalability. And, on the other hand, a decentralized Nostr protocol has been created that allows us to build applications on top of it and we are attacking another big problem, commercial sovereignty, p2p commerce accessible to all. We are taking up the philosophical vacuum left behind by the closure of Silk Road.