ordinals dont have value due to that..
well, i'm not saying i think they have any value at all but apparently some people are willing to pay higher if the inscription number is a low one like under 100,000 and even more if it's under 1000. not that i think it has any value but some people must think that way. whether that makes any sense or not i guess it doesn't matter. all that matters is if someone thinks it makes sense. but at some point seems like someone is going to buy at the top.
well those types of people dont know what value is in the first place. i see many people that still think VALUE is whatever people ask.. but its not.. they confuse price with value
values are based on actual utility, features, benefits, which then when working out costs and such can be financially measured. and then add on a premium for profit you then get to a price.
its then for others to also evaluate the features, benefits and utility and calculate their own cost and speculative premium they are willing to pay. where both sides eventually come to a mutual agreement
but if they are lied to about the utility/features. then they made bad valuation decisions and that hits them afterwards if they buy at the wrong price that is way above value
whether you believe in the "i came first so i'm more valuable" idea, well that's another story.
yep a story for patent/copyright attorneys to debate in a court room with a suspected infringer
how do you take someone to court if all you know is their bitcoin address? and their monkey on the blockchain...
the person that created the monkey is not the perpetrator. its the real world people using their images to sell merch to the real world where copyright claims come in. and real world, seeing your creation being used by someone without your consent is where you track them and hand them cease and desist letters with warnings of court claims should they not desist
and yes. casey could one day pull the plug on his project. and claim there is no proof of ownership transfer on the blockchain and start suing anyone making claims that they own his monkeys where all the blockchain actually shows is casey made the monkeys and passed it to no one
and yes in the past in different sectors of industry some have done that. created a product pretended they gave rights to others to sell the product. let them sell it and then sue the end seller for lack of licence. because that was the whole scheme in the first place
..
anyway back to the topic
With the ample breath we got this past week when they stopped, and now with their return, i think it has been sufficiently demonstrated how much have power they have to sabotage Bitcoin. It can only get worse with more spammers joining. And when an actual tx traffic surge comes (for example some exchange moving things around from cold wallets, etc) combine it with the spammers and...
interesting graph, yes it does appear that for a few consecutive days, they stopped uploading monkeys to bitcoin. strange. maybe they were reloading their coinbase accounts. after all, it takes money to make money...
for it to all fall flat at the same time reveals that its not millions of random people making deadweight. but a small couple of people that just ran out of energy/funding, which is more revealing about that chart
if random people were doing it or more then a couple. then there would always be a persistent level of random memes.. but for the complete drop, well that shows only one idiot or a couple of idiots working together that are involved in the fee attack using memes as the weapon
