Post
Topic
Board Bitcoin Discussion
Re: The severity of the Ordinals Attack is increasing
by
goldkingcoiner
on 08/05/2023, 13:49:03 UTC
Bitcoin is clearly a peer-to-peer system of digital cash as perceived by its creator;

No, it's not. It was conceived this way by its creator, but the number of people buying Bitcoin in centralized exchanges, even leaving them there, and the number of people using custodial wallets is far from the initial idea. I don't think Satoshi had in his mind people paying massive capital gains tax on their Bitcoin sales either, since you don't pay taxes for using cash.


I think its part of his vision. Give the people to the freedom to do as they like. If they want to do something stupid like leaving their Bitcoin in someone else's hands, thats fine. They have the freedom to do so and they will serve as an example to future Bitcoiners not to do so, once they lose their money.

The whole Ordinals "attack"? A lucrative reward for the miners. It will not last because it is not only a nuisance to Bitcoiners, but simply unsustainable. Money laundering must go through a centralized exchange. Bitcoin has no DeFi protocols. So obviously the launderers will soon hit a wall of regulations and government barriers. There are only so many idiots who are willing to throw their money away for Bitcoin NFTs and BRC-20 Memecoins. Its just a fad and it will disappear. Like ICOs.