Quote from: pooya87 on March 19, 2024, 04:28:39 AM

If the Ordinals scammers wanted to use layer two or rather a side-chain instead of inserting their arbitrary data into the Bitcoin main chain, they would have never used Bitcoin in first place because that would defeat their purpose which is to first spam Bitcoin chain and second to use Bitcoin's name to hype up their scam and get more victims.

They would have instead used an actual token creation platform such as ethereum to actually create actual tokens!

Although it's true that they're using Bitcoin "for NFTs" because it's "something new", what it also showed is that there's a huge amount of dormant capital that was waiting for something like Ordinals to happen. The Ordinals token ORDI had so much trading volume that made it surge more than ten times from October, 2023 to January, 2024. If you ask me, that's capital from holders who were waiting for something to do with their Bitcoins. You could call it spam and/or scam, but that truly doesn't matter because they paid for the fees and they're following the consensus rules.

Ordinals will not go away, and I believe that it's starting to encourage developers to build applications for "Bitcoin DeFi". That would probably be the biggest narrative that's coming in the current bull cycle.