Post
Topic
Board Development & Technical Discussion
Re: SatoshiVM - "A New Era For Bitcoin"
by
Wind_FURY
on 15/01/2024, 14:23:48 UTC
the inefficient method of bringing NFTs and Tokens in Bitcoin through Ordinals


They never did that. Bitcoin protocol does not support Token creation. What they did through Ordinals exploit was to inject arbitrary data into the Bitcoin blockchain.


Whatever you call it, it doesn't change the fact that the BRC-20 method of minting tokens is inefficient, expensive and it's very annoying for users who want to use the network for financial transactions.

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Do we need another sidechain? Liquid and Rootstock already exist, while Drivechain still in development. In addition, many things available on SatoshiVM already offered by one of those. For now there's little technical detail, so i only say the author should explain why Bitcoiner should use SatoshiVM rather than other sidechain.


Basically this ^

We already had a couple of projects that were more mature than this one,


But no one truly adopted them, and because Bitcoin is permissionless, any developer could build on top of it and try to debate for a better, more efficient solution.

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and they all lack popularity simply because token creation lacks popularity and utility! This is why they performed the Ordinals Attack like this instead of taking it to an actual "token platform" like Rootstock for example. They needed the hype to make money and of course to attack bitcoin...


"Lacks popularity", but those users did congest the network, forcing everyone to pay for higher fees if they wanted to make a transaction on-chain.

"Lacks utility", but those users' idea of "utility" or usage IS the making money part of the system.

But we digress, let's talk about technical features of SatoshiVM, the pros/cons, and why/why won't it work.