When I first really jumped into the rabbit hole of bitcoin Q2 of 2021, I heard many folks saying “bitcoin can do what all the altcoins can do in its blockchain, they’ll be rendered obsolete!”
2023 - ordinals gaining steam, those same bitcoiners “wtf get these stupid jpegs outta here, bitcoin does one thing and one thing well - hard money!”
p.s. I’m neutral on ordinals and here for the hard money, peer-to-peer cash. Just stating an observation
Personally don't think it matters. Bitcoin is a free market system and the free market will work it out. Lightning is solving the payment layer so of people are willing to pay to inscribe ordinals so be it.
Nfts are great. Its the use case of selling jpegs which is crap. Nft ownership of realworld assets like real estate and cars would be great. But ultimately that will involve government to adopt and I'm not sure they will be banging down the doors just yet.
IMO if ordinals / NFTs are going to exist on BTC they should be on LN but not the main network.
To my understanding they are only able to exist because of what is essentially a bug in the taproot upgrade allowing each Satoshi to be tracked to it's genesis block. This means there is no fungibility which is a trait necessary for a currency and was part of Bitcoin design and purpose.
