We do not need NFTs on the base layer of the new global reserve currency. I like my sats fungible.
Build NFTs on #Bitcoin's upper layers where they belong. We already have them on Liquid, and very soon will have them on Lightning via Taro.
Creating NFT tech on the base layer is also not a sustainable market. As on-chain transaction fees increase over time, tech such as ordinals will be priced out of the market.
It will not make sense to pay >1 sats to make 1 sat "special", and then even more to transfer it.
You can build the tech if you want, and inscriptions are indeed valid Bitcoin transactions, but the on-chain NFT marketplace is doomed to failure.
I)ruid
npub1sa…gqjdd
2023-01-31 17:48:59
Author Public Key
npub1san22nhe59ct8pstcehav4dtkf94lkn46ltl7d30g3zzl00tg7ussgqjddPublished at
2023-01-31 17:48:59Event JSON
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"pubkey": "8766a54ef9a170b3860bc66fd655abb24b5fda75d7d7ff362f44442fbdeb47b9",
"created_at": 1675187339,
"kind": 1,
"tags": [],
"content": "We do not need NFTs on the base layer of the new global reserve currency. I like my sats fungible.\n\nBuild NFTs on #Bitcoin's upper layers where they belong. We already have them on Liquid, and very soon will have them on Lightning via Taro.\n\nCreating NFT tech on the base layer is also not a sustainable market. As on-chain transaction fees increase over time, tech such as ordinals will be priced out of the market.\n\nIt will not make sense to pay \u003e1 sats to make 1 sat \"special\", and then even more to transfer it.\n\nYou can build the tech if you want, and inscriptions are indeed valid Bitcoin transactions, but the on-chain NFT marketplace is doomed to failure.",
"sig": "786ed907e7c63705e13e331f529b1c0b5c22129df16400ef6e38a95d12bde9bbaee787104c39164ce2bb57750977cf06800df75140f8431eff8a307d2a4990df"
}