Post
Topic
Board Bitcoin Discussion
Re: On Ordinals: Where do you stand?
by
pooya87
on 20/02/2023, 05:03:06 UTC
i'll have to look into this aspect of it franky but one thing i can say for sure is it's very easy to counterfeit an ordinal. just mint the content in a new bitcoin transaction and now you own a bored ape or whatever other "nft" you wanted! seems so easy right? the only thing that proves yours is not the real one is if someone else's has a lower inscription #. you could make 1000 bored apes if you wanted to and no one can stop you!  Shocked
That's the inherent flaw of tokens in general. They all can be counterfeited. Specially the so called "art" related tokens where the "art" is stored in a centralized website accessible to anyone who doesn't even have to own the token to access and download it! All you have to do is create a duplicate of the "art" and make your own token from it.