notdevin
@notdevin.eth
I need someone whoās sane to explain to me how Ordinals arenāt the undoing of bitcoin after reading this Ordinal Theory doc. 1) If Iām understanding this, satoshis are being made non-fungible and if successful to the max, would consume all fungibility of the chain https://docs.ordinals.com/overview.html
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notdevin
@notdevin.eth
Ordinals are another form of 51% attack, very loosely speaking. To assume that you can have both modalities on a finite chain with no repercussions seems naive, again, I could be smoking crack here. BTCs value is to create a standard of relative valuation. Now that function has cancer is all I see.
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notdevin
@notdevin.eth
Ordinals have made me more bullish on eth and Iām not chain maxi. Iāll still personally value ownership over BTC to be higher for awhile. The argument that ānumber so bigā for why satoshis can be converted to NFT seems to be the same mistake as using a signed 32bit int for YouTube likes, fine until itās not
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Hexidethmal šŖ
@hexidethmal
Interesting. I was initially going to explore ordinals but early on I understood that you had to have a clean wallet to house them because if you co-mingled with a wallet that sends txs, an inscribed sat that is part of an ordinal might be sent That was enough for me to pass, but this implication didnāt occur to me
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notdevin
@notdevin.eth
Oh thatās also weird! Whoops, we liquidated your favorite penny š
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