My issue with Ordinals is that they require you perceive satoshis as being non fungible.
Fungability is crucial for Bitcoin. If too many Bitcoiners become ordinals maxi’s, we may find ourselves in a future where BTC’s fungability is in question. Don’t think this will happen. But good to get ahead of it.
For sure it’s nothing but more NFT stuff
Also, they are simply scammy. You’re better off stacking sats than stacking inscriptions
Well stated.
1sat is 1sat. If you're buying one for more, you're a fool, and I'm not acquiring your "value"until it's back to sats parity.
It' kinda is just a temporary coin burn from their side. I'm not gonna bitch by anyone setting their coins aside (or losing them) while making all the holders stack more scarce
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But those clowns are making Bitcoin more deflationary in that same stroke
If someone drew a picture on $100 bill and sold it for $1000 would be the same idea, doesn’t change the fungibility of other $100 bills.
Agree - but that’s not exactly what happens with ordinal inscriptions. Ordinals require that you order all units in a particular way in order to even see the inscriptions
Ok not sure what that even means but I guess my point is that I don’t think it effects fungibility in any meaningful way.
It’s a delusional way of thinking. Hard to even wrap your head around ordering all sats in a way to make them seem non fungible, but that’s precisely what ordinals require.
I agree it’s a low risk and Ordinals theorists will always be a small minority compared to regular Bitcoiners
Or even the $100 bill with the picture on it. Should you really need it, you can exchange it at face value, let’s say for food.
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I totally agree that in many cases they are worthless. There are some good ones to imho, see explorers like https://ordeets.com
If you can exchange an ordinal/inscription for more than one Satoshi - it is hyper-fungible.
If someone can tie an ordinal to your identity - your wallet is doxxed anyways.
Numbering Satoshis isn't on-chain - that's the "side chain" portion of this schema.
How it is any different than collectors collecting coins? If someone wants to buy a fancy $1 coin from a particular era, who are you to tell him he can't buy it for $100 if he wants to?
I don't even care for the whole Ordinal/inscription thing, just feels like we're shaking our hands at clouds complaining about someone willing to pay more for satoshis that came from a certain block, when this has already been happening with traditional coinage for hundreds if not thousands of years.
The ordinal number of #Bitcoin Ordinals on my list of least useful use cases of #Bitcoin is first.
