Research Summary
The article discusses the potential of Bitcoin Ordinals in the NFT space. The article features an interview with Leonidas, the pseudonymous co-founder of Ord.io. Leonidas explains how Ordinals theory allows every Satoshi in Bitcoin to be individually tracked and inscribed with metadata, effectively turning them into non-fungible tokens. He also discusses the cultural divide between Bitcoin maximalists and web3 enthusiasts, the potential of Ordinals to provide an alternative source of revenue for Bitcoin miners, and the impact of recursion in making the creation of art on Bitcoin more affordable.
Actionable Insights
- Understand the potential of Bitcoin Ordinals: Bitcoin Ordinals can turn every Satoshi into a non-fungible token, opening up new possibilities in the NFT space.
- Recognize the cultural divide in the crypto space: There is a cultural war between Bitcoin maximalists who focus on Bitcoin’s currency use case and web3 enthusiasts who are open to experimenting with new use cases.
- Consider the implications of high fees: The increased demand for block space is driving up fees on Bitcoin, which could provide an alternative source of revenue for miners.
- Explore the impact of recursion on generative art: Recursion allows one file to call another file and pull it into itself, making it more affordable to create art on Bitcoin.
