my perspective to BRC-20
the goods :
- bitcoin blockchain more use full
- bitcoin blockchain have another use case except then transfer of value
- it could lure the ethereum guy to do almost same thing in the ethereum
- it beteer then NFT on ethereum because it is onchain
the bad thing :
- the bitcoin blockcahin can easily clog when there is one good project wich want to make their BRC20 token
- when the bitcoin blockcahin clogged it could spike the block fees and it is not good for retail investor / people who did day to day transaction in bitcoin like in el-salvador
we need to found a new way to make block fees cheaper.
Topic: Ordinals/BRC-20 Tokens (Read 267 times)
BRC-20 has introduced innovative features to the Bitcoin ecosystem. By enabling the storage and sharing of inscriptions via the blockchain, I think, this standard opens up new possibilities for the use of cryptocurrencies beyond the mere storage of numerical values, but in general there are still potential drawbacks of cryptocurrency protocols or tokens such as scalability issues, security vulnerabilities, lack of adoption or acceptance mainstream, and potential regulatory challenges.
I just hope these Ordinals/BRC-20 are built to last
In order to have lasting longevity the protocol should be sound and clear, in that way, the ecosystem and any underlying system that uses the protocol are having a strong foundation. Unfortunately, Ordinals which open up any opportunities on inscription files are flawed at its finest. Specifically for BRC-20, the developer itself stated clearly that is a mere experiment and reiterate there is a better platform to build this kind of thing, like Taro.
Having said that, the chances Ordinal going to last are slim, there is a lack of practical benefit, and instead, it challenges the community to scrutinise the development process of Bitcoin itself.
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Luke Dashjr, a leading Bitcoin code contributor on Github, emailed other Bitcoin developers and miners asking them to implement "spam filtration" as a part of Taproot transactions to block Ordinals and BRC-20 tokens.
https://decrypt.co/139576/bitcoin-developer-calls-block-ordinals-brc-20-tokens-network/It was very nice to see bitcoin developers have been calling to block ordinals. I really happy if that will come true. Bitcoin shall be only focused in the store of value and decentralized payment system only. Im really supporting btc developers to block ordinals.
It's very good news for all of active bitcoin users. Ordinals is just another BS. It's only spamming network.
i couldn't imagine if this BRC-20 becomes a thing, bitcoin blockchain will be massively gets clogged by BRC-20 transaction, even without it the fee is already quite high enough, ethereum that was designed specifically for such thing have really poor scalability nowadays, not to mention bitcoin, i agree like someone said above, it's like using some loophole.
I just hope these Ordinals/BRC-20 are built to last,
Build to last? Don't expect that and what I expect is this project to be another Luna project that's just using the Bitcoin potential and reputation to hype the growth and thriving of their ecosystem.I was listening to one of their spaces on Twitter recently and I am not that positive about it, though it is a journey and one can follow many paths, the way the team was sounding cocky was a concern to me,
If having some feelings like this through your instinct then something is wrong somewhere and it's nice to stay away from such development.BRC-20 is just a concept that makes it possible to create and transmit fungible tokens using the Ordinals protocol on the Bitcoin blockchain. However, it's also the cause of the problem we're experiencing now with the Bitcoin mempool and I wonder who are the supporter, dev, and the investors of the project because it seems hard to get all this information.
This is the owner of ordinalswallet which has been initiatied inscription/BRC 20 token https://www.linkedin.com/in/billy-rose
i have seen this BRC-20 token seems to complicated honestly, even transferring or minting requires some basic understanding of JSON? in which definitely only tech savvy would know.
moreover it just inflated the fee of bitcoin with just the presence of it at an early stage, i just think it's not really good idea.
moreover it just inflated the fee of bitcoin with just the presence of it at an early stage, i just think it's not really good idea.
Nah, i don't think so, you don't need to be a tech savvy before getting involved with the brc20 projects, there are some few guild that can help anyone interested to get stated.
So far, most of the projects in the brc20 are mostly nft so if you are not into ntf you may not find this brc20 projects worth the time for now.
I just hope these Ordinals/BRC-20 are built to last, I was listening to one of their spaces on Twitter recently and I am not that positive about it, though it is a journey and one can follow many paths, the way the team was sounding cocky was a concern to me, using their first-day trading volume to compare that of OpenSea and Uniswap and again for these BRC_20 thing to make Bitcoin unusable is a concern to me. I just hope there would be a solution to this. Binance deciding to list them is a plus I just hope they realise that the real work has just started
I find it great, that you have something like the BRC 20 standard,
that makes it possible to store & share inscriptions via the btc blockchain.
This is unique.
And we shall not destroy this innovative, new impulse, for the btc eco system.
"Crypto is also about art, and not only about storing coins (numeric value)."
If we want to achieve a higher adoption, Art, NFTs etc. should also become possible in the btc network.
And not just in the world of alt coins.
Cryptocurrency isn't related to art, it's more of a monetary system but who wants to implement the technology can create their own blockchain instead of spamming the bitcoin network. Its almost a scam now because there is no guarantee that there will be any demand for these brc20 tokens and people went crazy simply because its on the Bitcoin network but it will be eliminated sooner or later and anyone who spent their money due to instant hype will regret for burning their money for shit and miners are the happiest customers now. that makes it possible to store & share inscriptions via the btc blockchain.
This is unique.
And we shall not destroy this innovative, new impulse, for the btc eco system.
"Crypto is also about art, and not only about storing coins (numeric value)."
If we want to achieve a higher adoption, Art, NFTs etc. should also become possible in the btc network.
And not just in the world of alt coins.
I don't like them.
They should just be with those actual projects where they can proceed whatever they're working on. Just please, not on Bitcoin as it's already been living happily ever after.
We don't want these high fees caused by these tokens made on Bitcoin blockchain. What's next? Meme coins made on BRC20, and these are going to be crazier.
And yes I hate him about that reality, Bitcoin continues to be pressed until it has a very expensive gas in transactions, it will make people who invest small in more scared. And you know that it turns out that a lot of meme coins are built on the BRC20 network.They should just be with those actual projects where they can proceed whatever they're working on. Just please, not on Bitcoin as it's already been living happily ever after.
We don't want these high fees caused by these tokens made on Bitcoin blockchain. What's next? Meme coins made on BRC20, and these are going to be crazier.
Let's share and discuss perspectives of the Ordinals Protocol and BRC-20 Tokens.
This token has gained the attention of many investors. In the last two days the BRC20 token started to increase. One of them is PEPE. But I can't say for sure whether it's worth it for long term investment or not.
BRC-20 is just a concept that makes it possible to create and transmit fungible tokens using the Ordinals protocol on the Bitcoin blockchain. However, it's also the cause of the problem we're experiencing now with the Bitcoin mempool and I wonder who are the supporter, dev, and the investors of the project because it seems hard to get all this information.
This is the owner of ordinalswallet which has been initiatied inscription/BRC 20 token https://www.linkedin.com/in/billy-roseAs far as i know if ordinals wallet has no investor. It's caused by the creator or dev is still seeking for the donation from the users with the hope donations will able to be used for long-term development for the wallet.
People forgot that if ordinal inscription was only making the bitcoin blockchain become even slower. The fees will never go down again for sure.
Ordinals shall have used L2 blockchain rather than peg with BTC. It's only making people tired to use btc due to the unstable fees.
My own personal opinion is that it is ruining the transactions by pushing it to the limit and we do not need it. But everyone who has been against progress proven to be wrong in history so I am going to just shut up and wait for it to either solve the issue it created, or just go dead like everything else that got hyped for a while.
So far in the crypto world we have seen so many things that got so much hype and all of them died down eventually, I bet that this will be another one of them and nothing different without a doubt. I know that many people are trying to make money from it currently but I bet that they are not going to be doing that for many years, its just these few months and then it will be gone and nobody will ever think about it again.
So far in the crypto world we have seen so many things that got so much hype and all of them died down eventually, I bet that this will be another one of them and nothing different without a doubt. I know that many people are trying to make money from it currently but I bet that they are not going to be doing that for many years, its just these few months and then it will be gone and nobody will ever think about it again.
BRC-20 is just a concept that makes it possible to create and transmit fungible tokens using the Ordinals protocol on the Bitcoin blockchain. However, it's also the cause of the problem we're experiencing now with the Bitcoin mempool and I wonder who are the supporter, dev, and the investors of the project because it seems hard to get all this information.
Let's share and discuss perspectives of the Ordinals Protocol and BRC-20 Tokens.
This token has gained the attention of many investors. In the last two days the BRC20 token started to increase. One of them is PEPE. But I can't say for sure whether it's worth it for long term investment or not. 
Let's share and discuss perspectives of the Ordinals Protocol and BRC-20 Tokens.
It's utter nonsense! Did we have less trouble with millions of worthless jpgs, that such madness was brought to bitcoin network? Honestly, we didn't need BRC-20 token functionality here. We were good with ETH and polygon for these dying NFT markets.
Now the bitcoin network will remain clogged forever unless these things are taken down completely. Someone is saying innovative, what Innovation you are seeing here other than stupidity?
#Ordinals hashtag is one of the top trending on Twitter and $ORDI was listed again today and got a positive reception for CEX users we have incoming another one called BIP1 on the Bitget launchpad, the first BRC-20 token on the Ordinal Chain.
Personally, I think that can be beneficial for both, Bitcoin can attract more investors (And not only the ones who want to save or fight the inflation rates of Paper money) and relieve some of the Transit of the Ethereum NFT market if these are successful. As other said in this post, are quite experimental but can be a new additional value
this oridnals' BRC-20 token seems massively just like experimental thing in which I don't think it will last long, I remember many smart contract blockchain that acts like solution for bitcoin while still connected to bitcoin somehow basically being named as a side chain like already mentioned fails so hard no one even remembers it, bitcoin is already good as it is no need some additional feature, instead one should focus in decreasing the fee so the scalability increases, but then again its just my opinion, but I think these smart contract feature like token and NFT better off already in blockchain that was designed for them like ethereum, they are already good enough there.
If we want to achieve a higher adoption, Art, NFTs etc. should also become possible in the btc network.
There's enough chains out there and it's not necessary to use Bitcoin for such purpose. It was never the main intention of the devs to have these ordinals in the Taproot upgrade.
i have seen this BRC-20 token seems to complicated honestly, even transferring or minting requires some basic understanding of JSON? in which definitely only tech savvy would know.
moreover it just inflated the fee of bitcoin with just the presence of it at an early stage, i just think it's not really good idea.
moreover it just inflated the fee of bitcoin with just the presence of it at an early stage, i just think it's not really good idea.
BRC-20 now trending in twitter and i think very soon as good place in crypto market creating their space like biggest and biggest gain coming again with BRC-20 project/coins.
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