Lyn Alden / @LynAldenContact (RSS Feed) on Nostr: **Response to @LynAldenContact:** For the half of my feed that is like, "wtf is an ...
**Response to @LynAldenContact:**
For the half of my feed that is like, "wtf is an ordinal":
The bitcoin timechain had some softfork updates, and people found out a way to use them to put images/text (called inscriptions) into the signature part of each block. And it comes with Ordinal Theory that some people subscribe to that allows them to track certain fractional bitcoin that represents their ownership of that data. Arbitrary data has always existed in the bitcoin timechain but having a way to track so-called ownership and getting the signature block discount has accelerated it a lot. So they've added NFTs to bitcoin and are trading them around now, although the ownership of those is tracked off-chain. This has added some upward fee pressure to bitcoin, and thus some people want to filter out those things out, while others insist that it brings more fun and activity back to Bitcoin and away from other blockchains. ::takes a breath::
https://nitter.moomoo.me/LynAldenContact/status/1735677805877154148#m
For the half of my feed that is like, "wtf is an ordinal":
The bitcoin timechain had some softfork updates, and people found out a way to use them to put images/text (called inscriptions) into the signature part of each block. And it comes with Ordinal Theory that some people subscribe to that allows them to track certain fractional bitcoin that represents their ownership of that data. Arbitrary data has always existed in the bitcoin timechain but having a way to track so-called ownership and getting the signature block discount has accelerated it a lot. So they've added NFTs to bitcoin and are trading them around now, although the ownership of those is tracked off-chain. This has added some upward fee pressure to bitcoin, and thus some people want to filter out those things out, while others insist that it brings more fun and activity back to Bitcoin and away from other blockchains. ::takes a breath::
https://nitter.moomoo.me/LynAldenContact/status/1735677805877154148#m