Super interesting to watch the discussion over this bullet point in particular unfolding on Twitter as it now appears to be possible to upload several KB (theoretically up to ~4 MB) worth of data to the blockchain for the purposes of on-chain NFT storage.

https://ordinals.com/inscription/69d500051f9a0812ed41798eeb06d4af93349529480c23e9cf1ef0ccb2a921a8i0

On one side you have lukedashjr calling it an attack on Bitcoin and Adam Back calling for transaction censorship by miners; on the other side you have Peter Todd calling the "freakout" about ordinals "stupid" and reminding everyone that adding non-standard transaction data to the blockchain has always been possible.

It has reinvigorated the age-old debate of "appropriate use of block space," what "blockchain spam" entails, and whether Bitcoin should be used to store data not related to the actual transaction of BTC (for financial purposes).

Here is a brief overview of how it works:

https://read.pourteaux.xyz/p/illegitimate-bitcoin-transactions

Of course the concept of adding non-standard data to the blockchain for other purposes already taken place via Omni and Counterparty for years, but using Taproot to do it is bumping it up by one or two orders of magnitude.

Almost zero mentions of it here, so let's mention it.