⭐ Merited by seek3r (1)
They basically created a fake market where scammers create garbage and sell it to newbies who think they can make a profit. Because that garbage (the Ordinals) has a separate value in that market, the newbies don't mind paying a high fee on-chain to transfer that garbage around trading it for possible profits.
This makes things difficult for normal bitcoin users wanting to send bitcoin transactions since a spam attack with incentive to spam is going on.
I am completely frank right now, I just don't understand why someone creates garbage and why someone pays tons of money on it?This makes things difficult for normal bitcoin users wanting to send bitcoin transactions since a spam attack with incentive to spam is going on.
I found this ordinal on okx.com
Can anyone really explain, why does it have value and why does someone buy it? Is it a masterpiece? No, it's a piece of garbage. Why should someone pay bitcoins in it? And if we keep in mind that mempool is spammed, then it means that tens of thousands of people create this garbage every day. I have never seen any masterpiece listed on NFT marketplace, there are only pixelated shits everywhere.
Everyone please check this: https://ordiscan.com/inscription/40034415
What's the point of this ordinal? It has text $OG$ only. Do people really pay money to gain the ownership of $OG$ on blockchain? I'm losing my mind.
Also, why are pixelated arts popular instead of arts like Da Vinci's Last Supper, Salvador Dali's The Persistence of Memory, The tower of babel by Pieter Bruegel the elder and so on.
It is all about marketing to be able to sell dog shit to anyone who buys it. If they told them it is garbage, nobody would have even bothered looking at it. But when they use the term "art" to sell garbage, it gives the idiots the false feeling that it may actually have a value.
It is not new either. I remember in 2017 when the hype started for the first time, they were using anything they could. For example for a while they were trying to tie ICO scams with anything in real world that they could. Two major topics I recall were patient files (for health care system stored in blockchain) which was total bullshit and energy (where they basically hoped to create PetroToken
Ever since 2017 they have changed face a lot but the fundamentals of the scam remain the same:
ICO, IDO, IBO, IEO, ITO, STO, DeFi, NFT, Ordinals