Damus
Peter McCormack · 157w
Ordinals…talk to me… - The good? - The bad? - The ugly? Making a show on this tomorrow and want to know your thoughts. Can they be stopped? Should they be stopped?
1F52B profile picture
Ordinals - just an arbitrary scheme for agreeing on a number for each sat. Bitcoin equivalent of collecting coins or banknotes that have some significance to you, really nothing at all here for people to get upset about. Ignore if you want to, have fun with it if you want to.

Inscriptions - different thing, but *use* ordinal theory to agree on who now owns an inscribed sat if you transfer it. Inscriptions IMHO are genius and cool, and good for Bitcoin. For people that are angry, the original sins were agreeing segwit discount and taproot without fully understanding the repercussions. Max block size is 4MB, deal with it, that argument is over. Also LMAO Bitcoin accidentally has better NFTs than all the Shitcoins *and* now shitcoiners are running Bitcoin nodes. Consensus rules are the rules, not what people ‘want’ Bitcoin to be used for. This is good for Bitcoin.

Casey’s chat with Odel on Citadel Dispatch was good, important points around how Inscriptions now entangle Bitcoin with 1st Amendment free speech because inscriptions are clearly speech not money. Also potentially help with future security budget concerns and ensuring we have a healthy fee market into the future (but also inscription hype could just die out)
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1F52B · 157w
Think worries that Ordinal theory is a threat to fungibility are FUD - if just the suggestion of a scheme to ID sats that doesn’t require any code at all threatens fungibility, then fungibility didn’t really exist. Existing monies like fiat and gold both have similar things, where an aureus wil...
nostrich · 157w
well said, yeah the 1A attack vector is going to be an interesting one what with all the "objectionable" content. But, this data can be pruned from a full node, right? So not every node op will have it on the premises...