Plans to Eliminate Bitcoin Ordinals
A Bitcoin core developer named Luka Dashjr has expressed concern about the rise of Bitcoin Ordinals, which he believes is causing network congestion and exploiting a vulnerability in Bitcoin Core. Dashjr is planning to fix this vulnerability before the v27 update to put an end to Bitcoin Ordinals and BRC-20.
Previously, Bitcoin Core users were able to limit data size in transactions using the “-datacarriersize” setting. However, Bitcoin Ordinals can bypass this limit by confusing the system into thinking the data is program code.
Blockstream CEO’s Response
The Blockstream CEO, Adam Back, disagrees with Dashjr’s plan to eliminate Bitcoin Ordinals. He believes that complaining and trying to stop them will only lead to worse outcomes. Back suggests that high fees drive adoption of layer2 and encourage innovation in the crypto industry. He advises Dashjr to relax and focus on building things instead.
Dashjr’s Counterargument
Dashjr disagrees with Back and insists that it is possible to stop Bitcoin Ordinals. He criticizes the industry for dismissing concepts without exploring them first. According to Dashjr, they cannot conclude if something is possible or not without attempting it.
BTC Ordinals Benefit Miners
Some members of the crypto community agree with Back regarding the benefits of higher fees brought by Bitcoin Ordinals. They argue that cutting off Bitcoin Ordinals could lead to losses for miners. Dashjr clarifies that Bitcoin relies on consensus among honest miners who do not harm the blockchain.
Continued Growth of Bitcoin Ordinals
The demand for Bitcoin Ordinals continues to grow, with daily inscriptions reaching 400,000 and trading volumes and gas fees reaching new highs.
Hot Take: The Debate Over Bitcoin Ordinals
The discussion surrounding Bitcoin Ordinals and their impact on the crypto industry is ongoing. While Dashjr seeks to eliminate them due to network congestion concerns, Back believes that higher fees drive innovation and adoption of layer2 solutions. Both sides present valid arguments, but only time will tell how this debate unfolds and whether Bitcoin Ordinals will continue to play a significant role in the Bitcoin ecosystem.
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