Post
Topic
Board Development & Technical Discussion
Merits 3 from 2 users
Re: NFTs in the Bitcoin blockchain - Ordinal Theory
by
ETFbitcoin
on 03/02/2023, 09:51:30 UTC
⭐ Merited by pooya87 (2) ,JayJuanGee (1)
WOW, this is perfect, I read that we can add videos into the blockchain by this thing! Amazing, just imagine sending child porn, government secrets as NFTs.

People already do some of that, see https://www.righto.com/2014/02/ascii-bernanke-wikileaks-photographs.html.

So if it's bad don't try to change the rules, which is a hard thing to do, instead try to figure out a way to fight back.
e.g., Next thing you know someone will create series of forbidden NFTs and governments will go after every node/ miner/ block explorer to "manage the situation".

For better or worse, obtaining and decoding/re-assemble arbitrary data from Bitcoin blockchain is quite difficult for most person, so i expect government would focus on different leak method which is more accessible.

--snip--
Some of the standard rules are meant as "soft discouragement" to encourage people to seek better solutions that don't harm Bitcoin (like the OP_RETURN limit). For example the NFT guys could easily create a side-chain that is secure by merged-mining which would in turn provide a much better market (incentive) for miners to make money while securing that side-chain without "attacking" bitcoin.

There's no need to create new side-chain. RSK and Liquid could do that. In fact, i would recommend those people to use RSK which is decentralized and secure thanks to merge mining with BTC network.