You know you made it when current Bitcoin fees do not bother you because you are hodling. But it is hurts to see the ordinal scammers smearing Bitcoin's name with their Bullshit-Rort-Con 20 tokens.
Well, at least the miners are making decent profits off the idiots who actually fall for the BRC20 scam. Enjoy it while it lasts (Protip: it wont).
I don't think the miners are happy with the situation. No one in their right mind would bite the hand that feeds. A blow to the image of bitcoin will subsequently hit the miners. Fans of NFTs and other tokens will see that the network is overloaded and has become too expensive, and will go somewhere else (I really hope so). And miners need real bitcoin, just like the rest of us.
one day there will be sidechains second layers for all this stuff to run on Bitcoin, if we like it or not. mEth and all these other projects will die.
Bitcoin will be the settlement layer for everything - even scams. Fees will go into the thousands of USD. One single onchain transaction will settle millions of offchain transactions.
these BRC20/ordinals are just the beginning of what's going to happen within the next decade(s). We can already see them push exchanges like
BChinance to implement Lightning.
only my2ctsFor my part, i never even liked the idea of Ordinals. It's complete shit, with more than just doubtful use, imo.
Scalability is also one of the main challenges in Bitcoin's design, which should have been addressed first.
Sure, the road to success is bumpy sometimes, but i would really like to know Satoshis opinion on that shit.
it's up to the market to decide.
Bitcoin is the most secure database humanity has invented, and the market participants will outbid each other for being able to use it.
Right now only a bunch of freaks are using it. But wait until mainstream catches up. We have seen nothing yet... (compare it to the internet)
You know, i'm bullish on Bitcoin's future too, but ordinals (NFT)... i mean, c'mon
It's up to the market to decide? The "market" is a mix of participants, like a society is a mix of individuals. Like noise is consisting of many sinus waves of different frequencies. You know the whitepaper. I think ordinals are way beyond scope of an electronic p2p cash system. Why should Bitcoin do things which other shitcoins already do? Don't get me wrong, i don't mean that everything shitcoins do is bad, but ordinals don't do much to advance BTC in its role as said electronic cash/asset.
You might have gotten me wrong: I'm in no way a fan of NFTs ...be it on mEth or BTC
But it's not for me to decide what Bitcoin is used for. That decision is made by every single user individually.
Like any other technology: It
will be used for bad or stupid stuff.
Why should BTC do what shitcoins do?
Because it can. People apparently wanna use it that way, no matter if we hate it..
So eventually your question gets turned around: Why should shitcoins do what BTC does?
it doesn't matter if we both think that ordinals are not needed on BTC. It's there now unless a majority votes otherwise. we are free to decide to go along or to fork off
Frankly, I always expected that we'd get a shitcoin craze on BTC, one day. Like somebody wrote before me, it could even be the hype for the next bullrun. But may god have mercy...
if that happens you will pay hundreds of USD for a transaction.
