Have Ordinals And Inscriptions Ruined Bitcoin?

𝐋𝐄𝐀𝐑𝐍 𝐓𝐎 𝐁𝐔𝐘 𝐀𝐍𝐎𝐍𝐘𝐌𝐎𝐔𝐒 𝐁𝐈𝐓𝐂𝐎𝐈𝐍 𝐀𝐍𝐃 𝐂𝐎𝐈𝐍𝐉𝐎𝐈𝐍:
https://www.trader.university/courses/38824-the-ultimate-guide-to-bitcoin
Use the discount code YT99 to get the best price.

In this video, I discuss the ongoing controversy and questions surrounding Ordinals and Inscriptions (NFTs) on Bitcoin.

Ordinals are an external labeling scheme that orders satoshis (sats).

Inscriptions are digital text or image files that have been linked to a single satoshi and thus can be sent all around the Bitcoin network and even across the Lightning Network. They can be loosely thought of as NFTs on Bitcoin.

You cannot stop people from organizing, labelling, and ordering sats.

You also cannot stop people from embedding stuff on the Bitcoin blockchain, as they have been doing for years.

But as the base layer sees more and more important financial transactions that want to settle on the base layer, transaction fees will rise and make NFTs on Bitcoin a very secondary use case. Inscriptions will be essentially priced out.

Inscriptions do not contribute to blockchain bloat, and you are free to ignore them altogether by running a pre-Taproot version of Bitcoin Core.

Ordinals and inscriptions are the best proof yet that even Bitcoin maxis do not control Bitcoin. It is truly decentralized and not controlled by some small insider group.

This makes Bitcoin even more attractive as neutral money.

Not investment advice! Consult a financial advisor.

Ordinals:
https://ordinals.com/
https://docs.ordinals.com/overview.html

Corrupt banks with closed ledgers:
https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-84.html

Files hidden in the Bitcoin blockchain:
https://www.reddit.com/r/Bitcoin/comments/znqa8l/new_finding_an_encrypted_7zip_file_possibly/
https://www.pcmag.com/news/bitcoins-blockchain-caught-loaded-with-child-pornography

Bitcoin Core 21.0:
https://bitcoin.org/en/release/v0.21.0

Pierre Rochard on why Bitcoin maxis don't control Bitcoin:
https://twitter.com/bitcoinpierre/status/1622249776480649217

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#bitcoin
#nft
#ordinals

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