Topic: Bitcoin Ordinals on the edge of getting canceled - page 3. (Read 442 times)

I vote that we should stop the ordinals. Id even vote to move their rotten, useless transactions onto a side chain if that was possible, but I don't see how that could be done.

I doubt it would be easy but Id definitely vote for it if ever but could they really make a consensus on a number 1 decentralized platform? Id love the ordinals to slow down a bit but its probably impossible now its getting a lot of eyes on different field.

Seeing Binance posted about it will make it more wide to more users.

https://twitter.com/TheBinanceNFT/status/1655866866814820355?t=zS8-du5it-dnee-3vM1OFA&s=19

That would be a great step taken by developers if they agree to cancel the ordinals because there isn't a need for such protocol in Bitcoin blockchain and it's just an extra burden on the blockchain. The useless tokens and NFT's have no place in the Bitcoin blockchain and developers should definitely take some actions to prevent those useless protocols.

I believe that it's a great move if accomplished because it will reduce the burden on blockchain and the transaction fees will be fixed with the implementation. The ordinals are just a way to spam the blockchain with useless transactions and there is no need for such things in Bitcoin blockchain.

Well, that depends on the preference of a users if someone is willing to receive Bitcoin payments straight to his/her exchange account then there isn't anything wrong in that approach. The disadvantage that I can currently think of is the withdrawals that the exchanges can put on. Without their permission the user can not withdraw the bitcoins and that's a huge drawback. Other than that I don't think that anything is wrong when someone takes payments directly into the exchange accounts.

Even in some cases it is the preferable choice for the payments as it's very easy to exchange the bitcoins into stable coins through the exchanges. And, with p2p trading one can easily withdraw that money into their bank account without any worries. But, if someone is strongly against exchanges and don't want to be controlled by anyone then it's better to withdraw the funds in his/her personal wallet.

This ordinal has saturated the Bitcoin network and it should be regulated or even if it needs to be stopped because it is detrimental for people who want to transact Bitcoin but are subject to unreasonable fees. Even from the sources I read, Domo himself actually created this just for experimentation and people don't need to take this seriously. However, this seems to have stimulated many people to develop it, especially from a miner's point of view, with the existence of this ordinal, it has made them quite profitable as transactions and fees have skyrocketed. Some even claim that this ordinal effect has caused a "civil war" between BTC Core developers, miners, and ordinal holders.


Actually it doesn't matter, but are you willing to exchange platform holding your money? are you sure that it will be safe on the exchange? are you ready to accept the risk that at any time the exchange will go bankrupt and your bitcoin assets will be lost? Of course there are many reasons why accepting payments directly on exchanges is not wise, although according to some people it is more efficient because they can directly exchange their bitcoins without sending them, but I personally prefer to hold them myself in my personal wallet.

If this can be voted for and immediately implemented, then it's a very welcome development. This is just to fix the bug; it will not affect the BRC-20 token holders since they already have nearly a billion dollars in market capitalization, according to the last statistics I saw online. But it's for the best; let the network be free, and stop this who whose transaction is to be recorded first on the block competition.

About the direct payment into an exchange wallet, not everyone likes paying to an exchange wallet; a lot of people are highly against centralized exchanges and, as such, don't want to engage in anything that will promote them in any way.

Another thing is that once payment is received, not everyone will want to exchange their payment immediately, so sending them all to an exchange account is unwise. I might want to spend and reserve part of my payment on my private wallet, but sending it directly to an exchange account will kill that motive.

If we are asked by the Bitcoin devs to vote and choose between allowing ordinals to keep doing their thing on Bitcoin or they should cancel ordinals what will you be voting for?  

Today I read a news on Twitter and it looks like the Bitcoin devs want to cancel ordinals



I am not sure if this have been confirmed yet or they are still trying to make a choice but I will like to hear your thoughts, a good move or a bad one?

Also is it advisable to start receiving Bitcoin payment straight to your exchange? What disadvantages comes with doing so?