what's bitcoin ordinals and inscriptions all about?

❤️Cozy➗writing➗music➗movies➗/woodenboats 💌start a conversation with me here🟰 https://shorturl.at/moT16 | meganmichelle.com 

Imagine a dollar bill. Pragmatically speaking it's the same as any other dollar bill but it's identifiable by its serial number from the reserve. (Ordinal theory)

Now imagine drawing on a bill. You can draw anything that can fit with the single bill. (Inscription)

Now imagine a drawing on the first bill ever printed.

father, husband, css booster, ux engineer, silently defining variables at /sdv

First there was a rush to draw on as many early bills as possible. Now "artists" are flooding bills with drawings.

Despite having the same monetary value, bills are arbitrarily more valuable based on who drew on them and how low its serial number (satoshi) is.

This created a large market for drawings on dollar bills.

One bitcoin core team member is vocally against it and it seems probable that it’ll get patched out.

This may result in a hard fork if ordinal enthusiasts decide to protect their bags, but I see it fading away into obscurity.

Ethscriptions is not dissimilar and will phase out should calldata be pruned out later on.

What started as a novel idea — and borderline exploit — has become a huge grift.

Most of the art is trite, rushed, unoptimized, and by all definitions arbitrary. The art is valued mostly by the satoshi and sometimes the creator.

It is flooding the chain with graffiti and goes against the purist vision of bitcoin.