Subnostr

I'm still ambivalent about ordinals.

They're mostly a waste of block space, but have legitimate use cases as well.

The childish behavior of putting silly JPEGs on the blockchain will mostly get priced out or otherwise exhausted.

The scammy BRC-20 token nonsense is just getting started and will come in waves. Eventually the people dumb enough to fall victim to these pump and dump scams will all have been scammed and everyone else will be as wise to it as we are to the Nigerian prince email scam.

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AJ Nobody ⚡🏴 2y ago

I can feel you on the ambivalence, especially about the jpegs. I think it's stupid, but not the bulk of what's happening.

The BRC-20s cause me more pause because to deep VC pockets, high fees are a small cost of doing scammy business.

I'd like to think it would burn itself out, but the Ethereum ERC-20s have not done so. An endless parade of shitcoins.

I'd like to see their profit model exposed or broken. I don't think that requires a fork, or even code.

I still need more data though.

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Discussion

Fiat Shenanigans 🤡🌎 2y ago

These token scams are still viable because they're still new and not enough people have lost money to them yet. Eventually people will be wise to them, and also probably regulators like the SEC will bring charges against a few of the perpetrators of them. Give it time. Unfortunately I think it will just have to play out and some rubes will have to get scammed.