Post
Topic
Board Bitcoin Discussion
Re: Bitcoin and NFTs
by
pooya87
on 30/06/2025, 08:15:22 UTC
But now they've also made their way onto several other blockchain networks, including Bitcoin.
Not really.
Bitcoin smart contract system does not allow you to create tokens of any kind. The reason is obviously because bitcoin is a straight forward payment system.

What the scammers are doing is just placing some arbitrary raw bytes into their transactions and call that a token/NFT and sell it to any newbie who doesn't understand what token means!

Quote
Bitcoin Ordinals use a novel system that assigns a unique identifier to every satoshi on the network.
Wrong.
The Ordinals Attack is a nasty exploit that is using the lack of understanding among newbies regarding "what token is" by selling them garbage. It doesn't assign anything to anything inside Bitcoin Protocol because as I explained above, that is not possible.

Those behind the attack just created a centralized database which assigns some arbitrary concept to their transactions using that exploit. It has nothing to do with Bitcoin itself.

To put simply thing of it like this. Imagine if you opened an excel sheet on your desktop and then assigned a unique identifier to each topic on this forum. Then called each of your entries a "token" and then sold each to any idiot who were willing to pay you for it. That's pretty much what Ordinals is. Smiley