Post
Topic
Board Development & Technical Discussion
Re: NFTs in the Bitcoin blockchain - Ordinal Theory
by
nutildah
on 08/08/2023, 14:27:17 UTC

I don't "sell" bitcoin, I (primarily) use it for what it was originally meant to do, which is act as electronic cash. For someone who is purely using it for speculative reasons, that's fine, nobody said you can't do that. Indeed most people are only interested in the speculative gains aspect. However, if people didn't use it for real-world transactions then it would have no value at all.

History won't remember long-term bitcoin holders. It will remember Laszlo Hanyecz, Silk Road & others who established its first use cases.

Ordinals is a good example. I may not like dick pics and fart sounds in the blockchain, but it's impressive, for Bitcoin as a protocol, that Casey Rodarmor built his project on top of the network without asking permission. This is the ethos Bitcoin lives by, and saying that it's merely for "spending" cheapens the protocol.

I'm just referencing Satoshi's original intentions. He didn't create bitcoin to be an investment, even though somewhat ironically that's possibly one of the reasons why its had such success as one. Ordinals is indeed a novel use case that doesn't have to do with spending, so is the stuff I've been doing on Counterparty since 2014. I think what "cheapens the protocol" to a larger degree is insisting it shouldn't be spent.