Read_783 - Ordinals Are Fiat, Inscriptions Aren't Rare

December 11, 2023 01:14:05
Read_783 - Ordinals Are Fiat, Inscriptions Aren't Rare
Bitcoin Audible
Read_783 - Ordinals Are Fiat, Inscriptions Aren't Rare

Dec 11 2023 | 01:14:05

/

Hosted By

Guy Swann

Show Notes

"Nothing in the ordinal logic requires inscriptions to be linked to the “first” sat. So why is it the first sat of the first output? Why not the second sat of the first output? Why not the last, or one of the other hundreds, thousands, or millions of other satoshis which were also present in that same transaction? The answer is, well, because we are _pretending_ that it is so. In other words, we say a sat is inscribed _by fiat_."

~ Southern Hands


You may have heard many claims of the innovative and exciting things being built with ordinals, and how the popular new inscription NFTs are inspiring a flurry of activity and pushing fees higher on the Bitcoin chain. What exactly are ordinals that have made this possible? And how does one own a "scarce digital artifact" on the blockchain? Is there any truth to these claims, or is it all smoke and mirrors?


Check out the original article at Ordinals are Fiat. And Inscriptions aren’t Rare by Southern Hands | Medium (Link: https://tinyurl.com/4zvbauhf)


References and Links to check out:


Guest Link


Host Links


Check out our awesome sponsors!


"It takes considerable knowledge just to realize the extent of your own ignorance."

~ Thomas Sowell

--- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

Other Episodes

Episode

April 09, 2020 00:24:55
Episode Cover

Read_377 - Stop Calling for a Free Market in Money [Sven Schnieders]

"Although I mostly agree with their reasoning and share the enthusiasm for such a free market, I cannot stop being astonished by the naivety...

Listen

Episode

April 09, 2019 00:44:15
Episode Cover

CryptoQuikRead_230 - The Case for Electronic Cash [Part 1 - Jerry Brito]

Today we begin the long, and rewarding journey through Jerry Brito's & Coin Center's Report on "The Case for Electronic Cash." This is an...

Listen

Episode

May 12, 2020 00:42:17
Episode Cover

Read_000 - The Bitcoin Whitepaper [Satoshi Nakamoto]

"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a...

Listen