Damus
jimmysong profile picture
jimmysong
@jimmysong
Here's why there are deep incentives for a Bitcoin fork with the Ordinals people.

Ordinals/BRC-20/Inscriptions are now VC funded. And they're going to be pressured to keep growing, no matter what. Yet the hype around their stuff will inevitably fade. And whatever profits they had will dry up. So what will they do?

There are two paths. One is to increase revenue, the other is to reduce costs. The first will be very difficult to do without some new narrative. And they might try that, but it's going to be very difficult on Bitcoin... At least as it currently stands. They could move to another chain, but then, their whole reason for existence, being built on Bitcoin will be no more. Hence the incentive to create new narratives around their stuff and to add "features" to generate interest means some sort of fork.

The other path is to reduce costs. The most obvious cost is the fees being sent to miners. And to reduce that, you need to increase block size or make the blocks more frequent. Either way, this is incentivizing a fork.

The point is that once VC funding entered the picture, the path was set. There will be a conflict of visions and a "peaceful coexistence" was never going to be the outcome.
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ew0k · 123w
No changes to bitcoin to get ahead of pure hypotheticals. The VCs you cite here behave wholly uncharacteristic of pump and dumpers. Let them fork if it comes to that. They’ll lose.
Brisket · 123w
There will be forks. The best thing that you can do to prepare, is to understand what Bitcoin is & is not. To be able to act decisively should a fork emerge. Remember that you get to decide which version of Bitcoin to validate. No external authority should be doing this for you.
saeed · 123w
In my opinion, the presence of ordinals is temporary, but if the presence of ordinals becomes permanent, the solution to this problem is to use L2 for those who have a small amount of bitcoin. In other words, these intruders do not go anywhere, but bitcoiners migrate to L2.
g0ldeneagle · 123w
Could they move to Liquid BTC to reduce cost?
christo · 123w
Does this tell you that in X years, there'll be another decision/drama/crisis. Then again there'll be another Evolution not revolution
goodcharity · 123w
Isn't operating on a forked bitcoin essentially just another independent chain? The bitcoin affinity scam wouldn't really work because it would be real bitcoin in the same way bitcoin cash is (i.e., not at all). I think some kind of pegged side chain makes more sense for them.
Entropic · 123w
Isn't BTC slowly morphing into BSV but kicking and screaming?
RUN BIYING · 123w
Ecosystem means circulation within in the system, anything is Limitedly Quantified! The point is whether you could figure out how to verify the flow is only generated from the system itself?! No need to be surprised when more greed driven items are desperately trying to get involved. That’s the ...
MaxMaxi · 123w
This node ain’t forking!
Leurico8 · 123w
Interesting perspective
UNLICENSED MONEY TRANSMITTER · 123w
big blocks were forked many times already. pretty sure it's not that easy now everyone understands you could do inscriptions on bch or bsv
unit · 123w
Bitcoin Magazine is a Propaganda Narrative Machine If you look in to who sits on the Board of Directors of the Parent Company BTC Inc. You will understand that Vitalik Buterin never left BTC Mag, He became a silent owner of BTC Inc. Thru a Proxy Vitalik Buterin also coined the phase Bitcoin Max...
Reed · 123w
The "suits" had at least 80% of the economic power during the first blocksize war and they lost hard. they'd never get even close to that kind of a majority this time around. I think the danger of a blocksize increase is extremely low.
cryptowolf · 123w
they should just move to BCH lol
Nataphol · 123w
is it possible to build ordinal on lightning? or sife chain like liquid?
H.M. Murdock · 123w
BSVers are behind a lot of the ordinals spam, whatever the stripe. A fork towards bigger blocks is always what they wanted. Peace was never an option.
N3WD3V · 123w
You calculated a valid prediction. But other possibilities have higher probabilities.
Rijndael · 123w
The thing that youre missing is that the market likes inscriptions because theyre on Bitcoin. People can (and have) made inscriptions on other chains. Litecoun, dogecoin, eth, solana all have then now. The market isnt moving there. Being on bitcoin is a feature. Its not likely that community will fo...
Zach · 123w
I'm just gonna leave this here 😘 https://m.primal.net/HVIy.jpg
Udi Wertheimer 🧙‍♂️ · 123w
wait i thought you liked ordinals https://image.nostr.build/28384ea441afb3253a3a4b3afc5747f85dd5b7cf0dce40e8afe2c240ee81aeeb.jpg
Leurico8 · 123w
We would have bitcoin sv and bitcoin vc
3j2009 · 123w
Fork--->ETF launch--->BlackRock & VC funded media pump on the fork--->Original(current) BTC left behind?
Financial Parasites · 123w
I think they are going to push BIP 300 and 301.
BadWolfHODL · 123w
Maybe the least obvious answer is to fix the way ordinals are being put together on chain.