BRC20 TOKENS?! š¤ THATS IT NOW YOUāVE FINALLY PISSED ME OFF š¤Ø
WHY?? Fucking why???????
Discussion
What is that?
I would look into that, but I'm pretty sure I won't like it.
I think this gets a lot worse before it gets better, they're doing it with inscriptiosn now, but if those rollups turn out to work, they can deploy EVM chains inside blocks and scam one another just using bitcoin to secure their data in blocks
While I think this fails long term, I'm sure short term we're going to see some serious shitcoining on bitcoin
Itās so bad, Iām in a space right now where theyāre hyping āthe first bitcoin POAPā and there are hundreds in there, and theyāre onboarding. There is a stampede approaching, and the memepool is about to be crushed.
Sounds like this some kind of planned attack on bitcoin, either to discredit or to disrupt it with shitcoinery.
Thank goodness we have LN and like it or not, Liquid has become quite handy for my stacking, these cheap sats need a home, but I am not going to compete with shitcoiners for block space, that's just silly, let them burn their bags
Yah, I dunno if Iād call it an āattackā though that could be possible, I have noticed coordination by people like muneeb and the stacks developers but I think it boils down to opportunity and the NFT people being such efficient scammers.
Skepticism first ALWAYS. Donāt trust.
I also saw muneeb pushing the "interoperability" of rollkit with stacks yesterday, and how it would be "better" to manage your ordinals and coins you create in rollups and then move it to stacks, his clearly found a way to get some additional exit liquidity after the city token fail
"let them burn their bags"
Exactly, they pay sats for this garbage.
I remember BCH spamming the Bitcoin network with transactions and promoting their shitcoin. They lost money on fees and achieved nothing but laughter.
Makes absolutely no sense š¤£
šØYo so check this out. So how about when some GENIUS creates some yield scam with a BRC20 token and the SEC says itās a security: then what? š¤š¤Ø #[0]
Who knows?
Nah #[4]
Lol theyāre running from the law and hiding in the shadow where Gary isnāt looking. But all of this boils down to the dude running the ordinals scam itself, itās a centralized serializationā¦ Casey will just turn it off and rug them all.
Gary comes after Casey for being the centralized authority running the game.
No more like heād be drooling over an opportunity to come for bitcoin
Gary seems to actually like bitcoin and respect satoshi. I suspect he would prefer to go after the liars and scammers and illegal security issuers.
lol nah we just wound up right back at my op
There is an actual person he can take down with ordinals, whom is that person with bitcoin?
Itās not about that. Itās about regulations. Bitcoin is not considered an investment contract. Itās exempt from SEC securities regulations. The wrong BRC20 token could (I wonder) change that.
No it canāt, the brc20 token(or whatever they call the particular variety) itself would be the security, similar to a gold etf. The issuer would be issuing an illegal security based on a commodity. There will always be an individual who issued the
āTokenā within the commodity that is bitcoin. Above and beyond that, the token doesnāt actually exist at all without an overarching serialization methodology, and casey can literally just turn that off and someone else would have to build it back up and turn it back on again to allow the ātokensā to even exist. There are layers to the onion and bitcoin will remain a commodity.
Because Bitcoin is for enemies.
A whole new generation of wholecoiners awaits us once these rubes enter the back gates only to eventually realise that one sat is worth one sat. Welcome them with open arms. This is Bitcoin.
Scammers gonna scam... š