Post
Topic
Board Bitcoin Discussion
Re: The severity of the Ordinals Attack is increasing
by
BenCodie
on 10/05/2023, 06:08:07 UTC
So, you are sure that in this section one more topic is needed to discuss the current situation. What are your constructive proposals for overcoming this crisis?

I don't believe that anyone has a constructive proposal to overcome the crisis aside from removing the feature from the chain.

My new speculation/assumption is that Ordinals will remain a feature and that a new way of scaling to mitigate the effects that it is having on-chain will be implemented.

This will only get worse as the scam grows and the scammers and idiots trading this garbage don't care about paying $50, $100+ for a transaction if they are laundering money with a fake transaction they call a token that is worth $1100+ or have a chance of scamming an idiot who would pay them that much for this garbage.

This is important. NFTs were used to launder money, I have no doubt Ordinals would be too. I do doubt that this is the catalyst for the attack on Bitcoin. I believe that the attack is completely intentional and for the purpose of hindering the Bitcoin ecosystem.

Eventually, these adversaries will burn a significant hole in their pocket. It will either be a waiting game until it is no longer feasible to continue the attack/until it is not worth continuing, or until a scaling solution is incorporated to mitigate the effects.