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Somehow it's already Sunday, and thus time for #SkepticismSundays 🤔

The goal of this thread (which I'll post weekly on Sunday's) is for discussing the uncertainties, shortcomings, and concerns some may have about Bitcoin.

NOT the positive aspects of it.

Discussing things with a critical thinking approach and level-headed discussion helps us learn where Bitcoin and it's community can improve and go from there. We had a *fantastic* amount of good conversations last week so I can't wait to see this week's!

What's gotten you thinking, has you concerned, or always irked you about Bitcoin, its ecosystem, etc. this week?

Alan ₿ 2y ago

Thinking about the implications of Ordinals on sat fungibility

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Discussion

343PG 2y ago

I think KYC is a far bigger potential issue for fungibility. Imagine there being 100 million ordinals.. still an absolute drop in the ocean.

I’m no particular fan of them but just think the market will decide whether they are worth the block space or not over time.

Alan ₿ 2y ago

Agree — Ordinals are a lesser risk compared to KYC

Des Imoto マキシ 2y ago

Agree. Currently the elimination of easy onramps are a problem.

BHN 🍁 2y ago

Indeed. I hope everyone I zap mixes their coins eventually as everything I have was KYC.

Joda 2y ago

What is the risk to you if they don't?

Like if someone buys some contraband and your utxo is one in the transaction, you get monitored?

Joda 2y ago

I don't understand the problem. To the code, they are fungible. If people want to hoard some, it just drives up the value of the remaining sats in circulation.

Svoboda 2y ago

Is it possible that it could eventually move down a layer or two depending on what is eventually built? I've always believed Bitcoin would eat the rest of crypto and their products/services would eventually make its way into the BTC ecosystem but will be built down the stack.