Re: On Ordinals: Where do you stand?

Quote from: larry_vw_1955 on May 02, 2023, 11:39:39 PM

Quote from: pooya87

- There are no tokens being created
- There are no rules or standards being enforced that could be referred to as "BRC20 standard"
- Each bitcoin (and satoshis) are as fungible as before and they have not magically gained any additional value. If anybody is selling them for higher prices, they are scamming people.
- The junk data spammed on the chain can not move or be transferred to someone else.

so anytime someone "buys" some of this fake tokens the seller has to send an update to the bitcoin blockchain by making a new inscription? if that's the case then it seems like bitcoin would be swamped by this brc-20 junk which it seems like it is lately i haven't seen a single monkey in a long time. Shocked

normally that would be good but i'm not sure in this case...

No, that's the thing. These are not tokens, this is all fakery which means they insert some data into the chain and call that a token. That's all. The rest are normal transactions that don't even have the spam! They just transfer bitcoin just like any other transaction.

Quote from: DooMAD on May 03, 2023, 12:53:56 PM

For those who think Ordinals are a step too far, where would you draw the line? Would you like to prevent all non-transactional data from being included? Or is it just images and other media that you would like blocked?

Bitcoin has a long history of other data being included alongside transactions. Would any of those examples be considered unacceptable usage by today's standards?

The line is already drawn. It is not about the content, it is all about the purpose.

Any transaction that is not made with the sole purpose of transferring bitcoin (and nothing else) is spam and should be prevented. But we all tolerate other transactions as long as they are done through the defined and accepted methods like using OP_RETURN. This is because these transactions don't harm the system but when anything comes along that is exploiting/abusing the system that's a different story.

After all Bitcoin is not a decentralized cloud storage...