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Maybe Bitcoin NFTs Are a Mistake
- ShamelessC 4y agoThis feels similar to the last-second attempt to rebrand “web 3” to “web 4” (and apparently “web 5”). Calling them ordinals so you can trick old persons who finally saw negative press about so-called “NFT scams”. Even the title is seemingly designed to be “upvote-bait” for NFT-haters.
- sdwr 4y agoOn-chain data is better than NFTs for the same reason why its bad for regular BTC users - there's a cost to create it.
- LBJsPNS 4y agoIt's turtles all the way down.
- geraldlagusta 4y agoLink to bitcoin ordinals draft BIP https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2022-February/019975.html https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2022...
- tromp 4y ago> Critics concerned about high spam and fees due to emergence of Ordinals High fees are what Bitcoin needs in the long term (2+ decades) to stay secure when the block subsidy dwindles into insignificance. In other words, for a secure PoW coin you cannot both believe in 1) capped emission, and 2) low fees And no, huge blocksizes as Bitcoin Cash features, will not be able to reward miners with enough fees, as the required low-fee-tx volume would be absurdly high and completely centralize the network by making running a node too cumbersome (as already the case for Bitcoin SV).