The NFT Degens coming into Bitcoin via Ordinals do not understand tokenomics, have very large unit bias, and don't understand scarcity. They just talked about only being able to have 21 million Inscriptions if each Inscription is selling for 1 BTC. ๐คฃ
Discussion
Oh noโฆ๐
That makes zero sense at all. Isnโt the idea to attach them to a single sat? Every one Iโve looked at for some reason does 1,000 sats and I have no idea why. Hate that this shitcoin thinking is anywhere near us right now.
I'm in a Space with them at the moment. Multiple people didn't understand that they'd be able to have more than 21 million of them since people are buying them now for more than 1 BTC. ๐คฃ
Thereโs the saying, โeveryone gets Bitcoin at the price they deserveโ
While Iโm hesitant to embrace that quote entirely, some people are going to get Bitcoin at a price of 1 Bitcoin per sat.
And Iโm not sure whether thatโs sad or funny.
What about the ordinal use case for government resistant decentralized info?
I get JPEGs are dumb, but what about 3D printing protocols? Or anti authoritarian gov connections and transmissions?
๐คฆโโ๏ธ
You canโt sell them without destroying them ๐ so โฆ
I believe they're using Sparrow wallet so they can specify which UTXO to spend from. So people have been educating them. ๐ค We need to continue their education. Never stop orange pilling.
very, very strange people
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