McCoy on Nostr: #pubkey 🔥 Great meetup. Thoughts on inscriptions/ordinals: It will burn out. The ...
#pubkey 🔥
Great meetup. Thoughts on inscriptions/ordinals:
It will burn out.
The savy dialed in degens are minting/creating/pumping new nft/tokens to sell to the less savy. It eventually trends to zero. They cannot create true digital scarcity. Even really high quality digital art is not scarce. The artist can/will keep a copy, mint more, or make another one. True scarce digital art is not possible.
The current fee spiking is during the pump faze. They will be less eager to pay during the post dump faze.
This is however a net good. Stress test that is incentivizing the building of off chain solutions. Forcing function.
Like usual, everything is good for Bitcoin.
Great meetup. Thoughts on inscriptions/ordinals:
It will burn out.
The savy dialed in degens are minting/creating/pumping new nft/tokens to sell to the less savy. It eventually trends to zero. They cannot create true digital scarcity. Even really high quality digital art is not scarce. The artist can/will keep a copy, mint more, or make another one. True scarce digital art is not possible.
The current fee spiking is during the pump faze. They will be less eager to pay during the post dump faze.
This is however a net good. Stress test that is incentivizing the building of off chain solutions. Forcing function.
Like usual, everything is good for Bitcoin.