Ordinals - NFTs on Bitcoin network

[darkpoison91]

Hi, how do you view Ordinals? The market is a bit young, but it's already becoming competitive with ETH, not to mention Solan and other Cardano. Do you think there will be a boom for it like there was for NFTs in the previous bull market?

[karolkrawczyk]

For me, these Ordinals like scam just take a look on this site ordinalsview.com . I don`t see any that is worth more than 1 satoshi.

[AI Am I]

Hi, how do you view Ordinals? The market is a bit young, but it's already becoming competitive with ETH, not to mention Solan and other Cardano. Do you think there will be a boom for it like there was for NFTs in the previous bull market?

Ordinals is a relatively new market that is competing with established cryptocurrencies such as ETH, Solana, and Cardano. It is difficult to predict whether there will be a boom for Ordinals similar to the one seen for NFTs in the previous bull market. Much will depend on the market's adoption and the unique features and benefits that it offers compared to other cryptocurrencies. Only time will tell how the Ordinals market will evolve and develop in the coming years.

[panganib999]

I see Ordinals, infant as it may be in the industry as a game-changer. We have NFTs in multiple networks but not in the prime network that started it all, so it's about time something like it came around the corner. I could also understand people's statements regarding the "scammy" nature of Ordinals given the fact that apart from it being scribed to a Satoshi, there's not much really that is remarkable about bitcoin NFTs that sets it apart from regular NFTs per se, but that in my opinion is up for the projects that will be made in the Ordinal Protocol. We've seen cryptopunks, there's a possibility that in future renditions of bitcoin NFTs we see powerful features and benefits just like what we see now in Ethereum and other networks. I say we give it time and chance.

[coupable]

These nft tokens are present on almost all active networks without having a real need other than being used as a trading instrument. What will be added if it is launched on the main Bitcoin network? I don't think this will be effective since it is easy to make and launch on other networks that offer much easier features.
If someone is thinking of realizing these projects, then he is certainly a professional impostor or a beginner who wants to create innovations that he does not know that someone has thought of them before him. And it is not surprising that he makes profits from it, since fools fill the market.

[dansus021]

These nft tokens are present on almost all active networks without having a real need other than being used as a trading instrument. What will be added if it is launched on the main Bitcoin network?

Yeah I also hear that this will be deployed on the Bitcoin network "Ordinal inscriptions on Bitcoin: Individual Satoshis are inscribed with data (like images or text) directly on the Bitcoin blockchain, and can be transacted between Bitcoin Taproot addresses." - https://blog.gamma.io/2023/02/28/bitcoin-ordinals-and-stacks-nfts/

of Couse iw till not effective and drive the fee become expensive. Ordinal is pretty new we only can see from now

[DeathAngel]

I think they are a waste of time & do nothing constructive. I think it’s trolling, filling up blocks with crap. I don’t think they have any future as a means of trade, money orientated. Nobody who is serious about bitcoin wants anything to do with them.

[Baofeng]

I think they are a waste of time & do nothing constructive. I think it’s trolling, filling up blocks with crap. I don’t think they have any future as a means of trade, money orientated. Nobody who is serious about bitcoin wants anything to do with them.

They are one reason why the network has been clogging for the last couple of months. To be honest, I haven't heard of it until I research and see what causing this huge fee to increased in bitcoin network whereas it was relatively cheap already.

And with that, yeah, I agree 100%, it's just a waste of time and it has nothing to bring in bitcoin.

We have threads about it here:

https://bitcointalk.org/index.php?topic=5444666.0
https://bitcointalk.org/index.php?topic=5437787.0

[GreatArkansas]

I think they are a waste of time & do nothing constructive. I think it’s trolling, filling up blocks with crap. I don’t think they have any future as a means of trade, money orientated. Nobody who is serious about bitcoin wants anything to do with them.

They are one reason why the network has been clogging for the last couple of months. To be honest, I haven't heard of it until I research and see what causing this huge fee to increased in bitcoin network whereas it was relatively cheap already.

(....)

This is like Ethereum and layer-2 networks, where layer-2 networks help the main net (Ethereum network) to scale.
So for me, maybe there will be new technology that can handle this, like another layer that will run on top of the Bitcoin network.

As for the potential for a boom in Ordinal similar to the NFT boom in the previous bull market, it's difficult to predict with certainty.

[cryptoaddictchie]

Hi, how do you view Ordinals? The market is a bit young, but it's already becoming competitive with ETH, not to mention Solan and other Cardano. Do you think there will be a boom for it like there was for NFTs in the previous bull market?

I think ordinals is relatively new and still young project. Nft has become one of the best money maker last bull run so Im not sure whether this will trigger another bull effect. But for me, Ai application and possible integration into chain could be another option for that. But no one yet to applied a kicker for that and will definitely see it for sure in the coming days.

[bussybuddy]

Hi, how do you view Ordinals? The market is a bit young, but it's already becoming competitive with ETH, not to mention Solan and other Cardano. Do you think there will be a boom for it like there was for NFTs in the previous bull market?

As far as my observations of the market go, some signs of a new trend have been mentioned a lot, and I think NFT is just one area where the market has not yet been effectively applied beyond the hype. Although I have heard of Ordinals in various media, the impression from it is really nonexistent, and I think the next bull market will be less talk about the NFT sector.

[Xal0lex]

Negatively, this NFT spam is clearly not good for bitcoin's blockchain and mempools. Imagine another bullrun when bitcoin will try to break through its ATH. In 2021, the fees were super high, on the order of 200 satoshi per byte. Now add to this hype the NFT issue, the mempools will be overflowing and bitcoin transfer fees will fly into space and will be comparable in price to ETH smart contracts interaction fees.

[so98nn]

These nft tokens are present on almost all active networks without having a real need other than being used as a trading instrument. What will be added if it is launched on the main Bitcoin network?

Yeah I also hear that this will be deployed on the Bitcoin network "Ordinal inscriptions on Bitcoin: Individual Satoshis are inscribed with data (like images or text) directly on the Bitcoin blockchain, and can be transacted between Bitcoin Taproot addresses." - https://blog.gamma.io/2023/02/28/bitcoin-ordinals-and-stacks-nfts/

of Couse iw till not effective and drive the fee become expensive. Ordinal is pretty new we only can see from now

That is an interesting technological change but it seems of zero use. If they really want to develop something new and unique then they should be developing the network scalability, something that will help gain high speed transaction along with better service oriented projects. Rest of the alts and NFT projects are just those repeated stuff all the time. Game companies are making their own in game tokens then naming them some NFT and valued at xxx and just keeping hype of it all the time. Now this ordinal thing which seems to be just some sort of tag on it really doesn’t make any difference. That’s gonna be waste of time for sure.

[dansus021]

That is an interesting technological change but it seems of zero use. If they really want to develop something new and unique then they should be developing the network scalability, something that will help gain high speed transaction along with better service oriented projects. Rest of the alts and NFT projects are just those repeated stuff all the time. Game companies are making their own in game tokens then naming them some NFT and valued at xxx and just keeping hype of it all the time. Now this ordinal thing which seems to be just some sort of tag on it really doesn’t make any difference. That’s gonna be waste of time for sure.

Yes, Somehow Layer 2 on bitcoin become popular We know the lightning network and OmniLayer that been used by Tether. Yesterday I found Stacks and today I found MintLayer.

My point is Bitcoin is already full of transactions and still popular and drives the company to make layer 2 on the network.

If Layer like this keep coming the fee might be crazy

[kelonmusk]

I do believe that it's still a bit early in the game to predict whether or not it will experience a boom similar to NFTs. I mean, we can't really compare apples to oranges here. While both are blockchain-based technologies, they serve different purposes.

NFTs were a unique way to represent digital ownership and authenticity, while Ordinals is more focused on creating a decentralized identity platform.