Hello, I'd like to inquire about your opinion on protocols such as Ordinals and Atomicals. These protocols have introduced new concepts and functionalities, generating some buzz in the cryptocurrency and blockchain sector. However, I'm not entirely clear about their specific impacts and potential value and would love to hear your thoughts on whether you consider them significant innovations. Thank you!
I'm not an expert, but my assessment is that ordinals/inscriptions is a clever way to create NFTs on Bitcoin. Similar things have been tried before - see the Colored Coins project from 2013. They're interesting, and I guess add some incremental utility value to Bitcoin. But personally I don't think it will bring net new users and capital into the market. Again, just my personal take though.
It's certainly a narrative that can drive positive momentum; it also has real economic impacts on miners, etc. But a halvening in isolation doesn't cause a bull market.
Hello, I'd like to inquire about your opinion on protocols such as Ordinals and Atomicals. These protocols have introduced new concepts and functionalities, generating some buzz in the cryptocurrency and blockchain sector. However, I'm not entirely clear about their specific impacts and potential value and would love to hear your thoughts on whether you consider them significant innovations. Thank you!
I'm not an expert, but my assessment is that ordinals/inscriptions is a clever way to create NFTs on Bitcoin. Similar things have been tried before - see the Colored Coins project from 2013. They're interesting, and I guess add some incremental utility value to Bitcoin. But personally I don't think it will bring net new users and capital into the market. Again, just my personal take though.
Good analysis, thanks.
Do you believe that halvening has an actual impact on the bull cycle or is just traders overfitting?
It's certainly a narrative that can drive positive momentum; it also has real economic impacts on miners, etc. But a halvening in isolation doesn't cause a bull market.