Podcastnewshubb
Advertisement Banner
  • Home
  • Marketing Podcasts
  • Crypto Podcasts
  • Contact
No Result
View All Result
  • Home
  • Marketing Podcasts
  • Crypto Podcasts
  • Contact
No Result
View All Result
Podcastnewshubb
No Result
View All Result
Home Crypto Podcasts

Do Ordinals Make Bitcoin Better or Worse Money? With Rob Hamilton — What Bitcoin Did

admin by admin
February 27, 2023
in Crypto Podcasts


Rob Hamilton is a co-founder and the CEO of AnchorWatch. In this interview, we discuss ordinals and ordinal inscriptions: what they are, how they work, what risks and benefits do they present to Bitcoin, how would we mitigate negative impacts, and how the rest of the ecosystem is responding.

– – – –

Bitcoin’s use cases grow every year. A new version of money. An international payments rail. A tool to build out stranded energy, mitigate methane emissions and stabilise energy grids. And now, a decentralized immutable repository for images, audio, video and code. Ordinal inscriptions have been popularised as Bitcoin’s answer to NFTs, but that framing significantly underplays the opportunities and threats of this burgeoning functionality.

Ordinal inscriptions have been made possible via a series of Bitcoin upgrades going back to SegWit, and additional software, the Ordinal protocol, developed by Bitcoiner Casey Rodarmor. Rodarmor’s motivation was to make Bitcoin fun. But it has sparked a fierce debate about the nature and purpose of Bitcoin. In short, if Bitcoin is the new version of money, should all other uses that impact this primary use case be excised?

Philosophically, can a decentralized anarchic system without a fixed mission statement have rules of use beyond what is technically possible? Or, does the hard-won trajectory for Bitcoin that emerged from the blocksize wars set a clear enough ideology of what Bitcoin is and isn’t? Whilst technically, what can actually be done to counter the ordinal impact? Will this require another fork, or are there softer mitigations? And what will be the cost to the network of such changes?

The flip side to this debate is the positive impact ordinal inscriptions are having on Bitcoin transactions. Miners are at last seeing a use case that is, at last, bringing value to transaction verification. Whilst it is leading to questions about the blockchain being bloated is this actually a good thing in that it accelerates the market determination of true transaction value on the base layer?

Whatever the outcome will be, such discourse is a natural consequence of having a decentralized network without any rulers. Vigorous and healthy debates have galvanised and strengthened the Bitcoin protocol since its inception. Long may it continue.



Source link

Previous Post

Separation of Money & State with Matt Stoller & Peter Van Valkenburgh — What Bitcoin Did

Next Post

Bitcoin and The American Dream with CJ Wilson & Amanda Cavaleri — What Bitcoin Did

Next Post

Bitcoin and The American Dream with CJ Wilson & Amanda Cavaleri — What Bitcoin Did

Recommended

The Current State of Bitcoin Mining with Harry Sudock — What Bitcoin Did

7 months ago

The Economics of Privacy with Max Hillebrand — What Bitcoin Did

5 days ago

Bitcoin Security + the Future of AI with Jameson Lopp — What Bitcoin Did

2 months ago

Everything Is Marketing | Dave Schools — Creating a Top Medium Publication & Behind The Scenes of Hopin’s Rapid Growth

7 months ago

Science, Health and Bitcoin with Sam Abbassi — What Bitcoin Did

5 months ago

Everything Is Marketing | Arvid Kahl — Audience-Driven Entrepreneurship, Book Marketing, and Personal Brands

6 months ago
Podcast-(-White-) (1)

© Podcast News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Marketing Podcasts
  • Crypto Podcasts
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Marketing Podcasts
  • Crypto Podcasts
  • Contact

© 2022 Podcast News Hubb All rights reserved.