Re: (Ordinals) BRC-20 needs to be removed

Quote from: nutildah on December 31, 2023, 10:24:43 AM

Quote from: cryptosize on December 31, 2023, 02:20:01 AM

ps: Nobody has answered why this craze/FUD keeps going on for over 2 months. Only someone with a sizeable BTC stash should be able to fund it.

Its Venture Capitalists who want to get in on the action. They saw the potential behind it. They are the ones funding the infrastructure & marketing. Here's a few links to give you an idea of who they are:

https://www.coindesk.com/tech/2023/10/17/bitcoin-magazine-owner-backs-first-ordinals-fund-which-bought-85k-rock/

https://www.theblock.co/post/263343/bitcoin-ordinals-startup-taproot-wizards-raises-7-5-million-in-seed-round

https://crypto.revuto.com/ordinals_1.pdf

These people see Ordinals as the next NFT rush, and thus far they haven't been wrong. Will it all pop & fade away with time? Most likely, yes, most of it will. But not all of it.

So what I'm seeing basically is this:

1) Make up some crap, doesn't matter if it has a real utility or not
2) Market it to potential investors
3) Sell

And this is actually a widely used business model, from shit-tokens created by exchanges and Bitconnect ponzi schemes, to literally forging a business by making up statistics, models and financials and then sucker some black suits to acquire it.

No wonder why this is annoying for people who use Bitcoin for real stuff.