1/ Debunking the Myth: Did Ordinals & BRC20 Break Bitcoin? ππ‘ Let's dive into the facts and debunk some common misconceptions surrounding the impact of these protocols on the #Bitcoin network. π§π
2/ Chess Game Analogy: π² Just like in a game of chess, players have different strategies & motives. Some spread fear, uncertainty, and doubt π¨, while others promote their own solutions. It's crucial to critically analyze the claims made by both sides. π΅οΈββοΈ #crypto
3/ State-Level-Attack: π We've seen that a state-level attacker might need about $2 billion to come close to stifling the Bitcoin network. The network can adapt & grow, but this is definitely a concern. π¬ #BitcoinSecurity
4/ Lightning Network & Channels: β‘οΈ The Lightning Network and payment channels have proven less effective for retail, trapping people's funds. The statement βBitcoin is 24/7β doesn't hold true with Lightning. π #LightningNetwork
5/ High Transaction Fees: πΈ With increased usage, transaction fees may rise, making Bitcoin less suitable for everyday payments. Without other solutions, the "fair cost" of a transaction when Bitcoin is actually used is around 10-20 USD. π #BitcoinFees
6/ Tail-End Emissions & Uncapped Supply: π Bitcoin's finite supply (capped at 21 million coins) could be slightly increased by tail-end emissions, potentially helping with fees. This likely won't harm Bitcoin's value proposition. π #BitcoinSupply
7/ Block Size Debate: π¬ The block size debate has been ongoing for years, with some advocating for larger blocks to accommodate more transactions. This debate will spark up again. π₯ #BlocksizeDebate
8/ Centralization & Lack of Agility: π Bitcoin's decentralized nature ensures that no single entity can control its development. However, this also means that "fast fixes" are not possible. π #Decentralization
9/ In conclusion, Ordinals & BRC20 have not broken Bitcoin. The network continues to grow, adapt, and improve, addressing challenges along the way. π± Stay informed and beware of baseless claims & misinformation. π‘οΈπ§ #BitcoinStrong
10/ If you got value you out of this thread, do me 2 solids:
1. Like and Retweet the first tweet of this thread
2. Follow me
1. Like and Retweet the first tweet of this thread
2. Follow me
Loading suggestions...