This ordinals brc20 crap is an attack that bypasses spam protection on #Bitcoin using an external indexing scheme where they attach a json to input witness data to "mint", track and transfer sats pretending that they're shitcoins.
It's a lot less data than inscribing images and with the 4× witness discount, not only are they paying 4× less than economic transactions, but if they manage to pump these shitcoins to ridiculous values, it could be profitable even at 1000 sat/vB fees.
105 bitcoin fees last 144 blocks
Hope this wakes people up to the fact we need CF and STARKs pronto. Bitcoin is not ready for a billion users. Lightning is not either unless you want everyone to use custodial accounts.
The main limitations they have is they cannot premine all the coins (this is what attracts VC capital to shitcoins) and the way it's handled with offchain indexing will always lead to "double spends" and invalid txns even if they're perfectly valid with respect to Bitcoin protocol.
Witness discount has to go when CISA gets shipped. I'm not sure if there's consensus yet in this regard.
