the gaslighting from inscription promoters is exhausting and starting to really piss me off
if you are thinking about buying an inscription consider staying humble and stacking sats instead
Discussion
I ❤️ #bitcoin
Agreed, dunno know this is a trend but it’s ridiculous to me. Just stack sats and call it a day.
Is Bitcoin Script same as Inscription?
#GorillaWarfare
Did not consider inscriptions. Remained humble and stacked sats. It’s really that simple.
#[1]
This is the way
Pushed by people who couldn’t fight their way out of a paper bag but whose profile comes entirely from antagonising people online.
They’re the fiat of bitcoin.
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It’s like they all have Udi’s personality. Infuriating. It’ll burn out soon.
💯
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It's rough seeing a Bitcoin company doing it as well. Especially since a lot of awesome plebs I know work there.
Odell going full scorched earth on inscriptions isn't on my 2023 bingo card
Matt, it seems like everyone with a podcast had an opportunity to air their grievances about inscriptions a few months ago, but instead chose to let Casey steamroll them for a couple hours at a time. Is there anyone with a mic and an audience willing to articulate exactly why inscriptions are an aggregate bad for bitcoin?
I do not think inscriptions are “bad for bitcoin.” They are valid fee paying transactions, that cannot be blocked even if you dislike their use, and may have significant censorship resistant use cases going forward such as preserving important books, code, and other data. That said, inscriptions cannot be transferred unless you believe in the bullshit "ordinal theory.” It is the sales that are a concern, uneducated users being targeted by promoters who rather than disclose the tradeoffs choose to gaslight any of us who speak up.
So many important things to focus on but without fail, year after year, the focus turns to get rich quick schemes and dumping garbage on retail.
You should listen to my Citadel Dispatch with Casey. I did not go easy on him, I take the responsibility that comes with my platform seriously, and have been consistent in my thoughts for years.
Good read on the situation. 🧡⚡️🌹
The challenge with inscriptions in my mind is they should never be worth less than their raw sat value. It’s backed by Bitcoin. Which means you at least know your lowest value price - or maybe not..
The disconnect I see is it’s attempt to stack more value on top of those base sats, with the effective risk being - how many transaction fees you pay for, how much time you spent creating them, how much you sell vs bad stock no one wants to buy, how much your costs could have been BTC gains if not spent, etc.
And sadly we’re in a gold rush phase where people think they will or might make a return. 99% won’t - just like every ponzi scheme.
So your floor price (read: return) can be less than the base BTC sats (and any premium you paid for fools gold). Scheme debunked. QED.
Solid take.
all it shows is that the segwit upgrade was legitimately despised and that the traitors/infiltrators convinced the 2017 noobs that btc isnt worth anything unless an inward can buy a coffee with it...
btc exists . thats enough . it doesnt care if people starve or can buy the detritus of modernity with it...
doesnt matter at all .
the question is : will this vector be exploited ? what other vectors have the starbucks faggots opened up ?
And what will you do when core v29 breaks and all the n00bs get rugged , while the runners of 0.5.3 will be the only ones still hodling their stash ?
If a bitcoin has an inscription (graffiti) on it, does it become more valuable? If not then it doesn't matter, else it will affect bitcoin's fungibility as money.
🤙🏼
Nft scam that boats the blockchain
I don’t understand how they are bad for bitcoin. It seems like a use case to me. Joining into inscriptions is optional, not mandatory.
What is the argument against them? Expensive fees? That just seems like free market behavior to me.
Hot take but you ain’t lying
The snake oil salesmen will convince you that giving him your money is a sale and it is valuable and that you have gained a trinket. The master snake oil salesman has even put his brand on it so that you proudly stay loyal to his scam.
Just Do It!
But... isn't it scarce scarcity?
Also, can you say that 5x fast?
I will address the elephant in the room. A Bitcoin Magazine boycott should be discussed. By attending their conferences we are condoning their behavior. Maybe #[2] could help start a 100% Bitcoin only conference.
How can anyone take bitcoin magazine seriously when David is spouting off shit like this?
Intéressant et comment en piler des #sats je suis curieux
Amen 🙏🏼
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