NFT fans want to move over to Bitcoin Inscriptions because Bitcoin is the only decentralized and censorship resistant timechain that exists and will last for hundreds of years. It makes sense from that standpoint.
Discussion
If yet to follow - follow this man smh
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We've seemed to have accomplished what multiple shitcoin DINO PoS chains couldn't. And we didn't even mean to!
🤣
While I do not agree with all of this, I am looking at this as a win for Bitcoin. Yes, it's actually good for Bitcoin. I have had a dozen Ethereum maxis DM me so far and ask me how to run a Bitcoin node and how to run a Lightning node. I'm looking at this as an orange pilling moment. This is how we win.
The biggest issue I have with it is that people right now don't know what it is they're actually buying. Supposed buyers think they're buying a single Sat that is indisputably attached to a specific type of data... but that's not the case. What they're actually paying for should be made as clear as possible.
No problems at all with people buying this stuff and doing what they want with their money, but I kind of disagree with the idea that it's a fair transaction because of this confusion.
Can't we makes a Bitcoin L2 solution of some kind for those NFT boys and girls?
We already have it with Liquid, and will have it shortly on Lightning using Taro.
I predict that fad vanishes very quickly. Game theory is going to wipe them out
It may as the price of a sat increases and financial transactions become more important, a media transaction would become less appealing to miners.
So, could ordinals be a potential solution for miner revenue instead of proposed tail emissions on the Bitcoin network?
https://thebitcoinmanual.com/articles/btc-tail-emissions-debate/
I think inscriptions will end of being the fossils of a failed species of shitcoiner permanently buried under layers of digital time
I hope you're correct.
It's only a matter of time, shitcoiners will open their eyes.