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898 sats \ 19 replies \ @cleaningup12 2 Jan \ on: Have You Ever Bought an Inscription/BRC20? bitcoin
Yep I inscribed two bitmaps back in June for around 2 bucks
One sold last month for 80 bucks and the other is up for 500 and it will sell by march.
I think they are a pain for the mempool and purists hate it
Im no expert but experts like odell say technically these are not etched on to the blockchain as one may be led to believe, something to do with uxto but I'm no expert
I'd say they are here to stay for this bull run and then will probably tail off once the prices go to high
Will be like the eth monkey clubs
Many more chains like sol are pumping with these copycat versions will advance more marketing
Im no expert but experts like odell say technically these are not etched on to the blockchain as one may be led to believe, something to do with uxto but I'm no expert
There are a couple of things: Inscriptions (a method of storing arbitrary data on-chain) and ordinals (a way of numbering sats that can then be traded around).
I'm not sure if Odell has since changed his mind, but he was previously arguing that ordinals specifically are worthless because they rely on an external protocol (or something "outside" Bitcoin) to number sats. If that protocol changes (say everyone agreed to number sats differently), the rare sats you currently hold could be worthless.
(FWIW I think Odell is wrong here.)
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Odell is wrong, because ordinal theory is nothing more than a convention in how to look at things. It is an agreement. CR thought of a clever way to enumerate sats, and insofar as we agree to look at things in the way he describes, we can trade them around in a non-fungible manner. If someone decided they didn't want to look at things the way CR described, they are free not to, but their non-belief needn't affect anyone else's belief. They can't stop anyone from adopting the convention that CR invented and acting on it.
The thing that amuses the shit out of me is that this is nothing more, or less, than what btc itself is: a way to look at things. If a person sitting across from you thinks btc is worthless, how can you possibly disagree? What would your vectors of disagreement be? The only rebuttal you can make about the value of this abstraction is that other people do value it, as demonstrated by your ability to trade it for tangible goods or other currencies. But its value lies exclusively in this shared convention.
When I used to listen to bitcoin podcasts regularly, a bunch of bitcoiners went on a kick of trying to rebrand the "money is a shared delusion" bon motte. Even the great Lyn Alden is guilty of this sophistry. I get why they're doing it -- they're trying to rebut the idea that btc is meaningless. But denying reality is the wrong way. Money, like a lot of other important things, has meaning insofar as it is a matter of convention. Different technologies introduce different affordances to this convention, but a convention it remains. So with ordinals.
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Completely agree.
When I used to listen to bitcoin podcasts regularly,
Ah yeah, I am burnt out on them also. The recent drama has actually been quite useful in filtering who to pay attention to and who to ignore. I don't recall ever seeing so many bad takes in Bitcoin before.
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Glad I’m not the only one tired of podcasts spouting the same silliness…. I feel there are a lot of people all shouting the same noise at one another. Very little patience, barely any discussion and no nuance.
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I have a range (politics, economics etc) but BTC related/andjacnet its only WBD and Peter St Onge’s weekly round up.
Any recommendations beyond the mainstream usual suspects?
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These are the only two explicitly btc podcasts I listen to anymore as well, sounds like in the same way that you do: if there's someone on where there's a chance they'll say something I haven't heard 1000x before; or if there's a technical topic I want a hearty discussion about. How people can produce yet another version of the same old macro or "we are such geniuses for liking btc" or NGU bullshit is beyond me.
The real alpha in btc right now, imo, is to have an extremely limited btc media intake and to spend your cycles learning new things about the world outside your normal experience. I can enthusiastically endorse the Dwarkesh podcast that I discovered a few months ago. This weekend I spent a couple of hours listening to one of the eps, and another couple hours writing notes on it, which has never happened before.
I think we, as individuals, need to focus on incorporating Bitcoin into our lives and ways of working and demonstrating that to others rather than standing around shouting at people saying ‘when moon?’ And ‘we so early’..
Even if the protocol changes (which it has reasons not to, just like Bitcoin does), the old protocol will still exist. And being the first such protocol, it may become the Schelling point for storing images on Bitcoin.
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Ye I was seeing a lot of talk on cripto twitter and I bought my Dob ddmmyy and my Son's Dob
Just thought it was a little momento for a couple of bucks
Then it started blowing up
So I put one in the marketplace and it sold instantly!
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391 sats upvoted in multiple places
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How can you say it will sell by March? Is that a certainty?
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Absolutely not a certainty
Could all die of death and plummet to zero tomorrow
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