jgmontoya on Nostr: Yesterday a friend asked my what I think about the whole NFTs on Bitcoin with ...
Yesterday a friend asked my what I think about the whole NFTs on Bitcoin with ordinals/inscriptions.
I'm not 100% convinced but here are my thoughts:
1. NFTs are still stupid and I haven't seen any real use case for them.
2. They're valid Bitcoin transactions that are paying for their blockspace just like any other.
Because of 1 & 2 I expect this to be more of a transitory hype based thing. I don't see the incentives aligning well for putting crap on the blockchain.
I also think the bloat is not so bad as they don't pollute the UTXO set. In my opinion, people that worry about this should be trying to push for smaller blocks or maybe changing the weight of witness data.
I'm not 100% convinced but here are my thoughts:
1. NFTs are still stupid and I haven't seen any real use case for them.
2. They're valid Bitcoin transactions that are paying for their blockspace just like any other.
Because of 1 & 2 I expect this to be more of a transitory hype based thing. I don't see the incentives aligning well for putting crap on the blockchain.
I also think the bloat is not so bad as they don't pollute the UTXO set. In my opinion, people that worry about this should be trying to push for smaller blocks or maybe changing the weight of witness data.