Random thoughts.
Ordinals aren't going away. There is a use case.
Real estate deeds written to the blockchain.
Perhaps a second layer, similar to lightning?
Personally I despise the cheap images of monkey butts JPGs. But understand, these defiled Satoshis will hold value. Not for us in our time, in our Maxi perspective, but farther out... Decades out.
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And with this the final nail goes into the coffins of shit coins like Algorand and Cardano. Softwar by Jason Lowery connected the last dot on BTC Dominance for me.
I feel dumb for not getting there on my own. I have said forever that what backs bitcoin is security. DUH! Once you understand that security is the point, security of money, security of data, there is no difference. Data is money and money is data. Matter is energy and energy is matter. (hold up, some of y'all ain't ready for that yet 😀 )
Anyway if you look at the entire "crypto" space though a lens of security, #bitcoin is the only thing left standing. When you want security, do you want okay security, decent security, half ass security?
No you want the best.
The only reason people settle for second best in security is lack of access or the cost. Well security via Bitcoin is open to all and it is CHEAP, because you pay for it only when you secure something one time, then you never pay again unless you transfer ownership of it.
So if you are going to secure a land title, a deed, a car title, a contract, your will, your personal data, corporate data, etc. why would you use any security other than the BEST security you can get.
And nothing man has ever built is more secure than Bitcoin because it imposes a physical cost in the virtual world. When you view it this way, the entire "slow" and scaling problem goes away. They are not flaws in bitcoin they are features.
The slow and hard parts of the blockchain make trying to hack the network so costly that you just can't afford to attack it. It is like a shied that makes you impossible to harm but the harder an enemy hits you the more they hurt themselves.
POS networks can't do this, any POW network that isn't bitcoin simply isn't as secure. There is no place for 2nd place. The highest hash rate other than BTC is LTC. LTC has a hash rate of 770 TH/s, BTC's hash rate is 345 EH/s.
The magnitude is such that to quote Ricky Bobbie, "If you're not first you're last".
Ordinals are like weeds, showing us the fertile ground of unused block space. Now we have to figure out what to plant in it.
Energy is matter (mass) at the speed of light² right? And didn't some redneck hippy duck farmer say something about bitcoin and the speed of light? Totally makes sense.
🤣
Thoughts?
I wanna hear them.
I want you to tear apart this idea.
Expensive and unnecessary gimmick imo. While we at we might as well an do an NFT of you owning a house.
Do we agree that Bitcoin will eventually consume all value in real estate?
Not all, but most. A house will still be relatively expensive but cheaper than now. But whats the point of putting a receipt of ownership of a house on a blockchain or even on timechain? You need a document proving to the state the ownership, not to the Bitcoin network. How is keeping a record of house ownership any necessary to be on timechain?
My thought is that the deed is expressed permanence through inscription.
Papers can be fraudulent, wills circumvented.
It's not necessary. Far from it.
I am just looking at the best case use for these blasted ordinals.
It's not like they are going away anytime soon.
Stupid permanence. 😂
Inscriptions can be fraudulent as well well 🤷🏻♂️ You can write shit on timechain too, clearly.
The only use case for Inscriptions (if there is any) might be helping with scaling payments in future. Definitely not jpegs and realty contracts
A deed on a blockchain doesn’t stop men with guns from taking your house
Absolutely correct. But if the title to the deed is inscribed, it should provide legitimacy in a civilized society.
Saylor postulated about having his last will and testament inscribed.
The men with guns would be government agencies, correct?
More than likely. I agree that it could be used for documents in this matter. But documents cannot secure physical property at the end of the day. The blockchain can only secure things in the digital space.
We have a long way to go before we live in a civilized society.
I’ve always thought employment contracts, especially executive compensation, would use inscriptions once Bitociners demand them cause they don’t trust the legal system or anyone else to custody the documents.
Real estate deeds are recorded at county courthouses. So each county would have to agree to abide by the Blockchain instead of their clerk of court. I doubt they would ever give up that power.
