If Ordinals catches on like BTC caught on, it'll create a free & clear arbitrage opportunity for anyone on the inscribing end of these blocks.
Imagine a cartel of Amazon, MSFT, and , all colluding with a pool to inscribe BTC with a "Big4-flavored" inscription granting you discounts, access, rights, etc.
This creates an obvious monetary increase.
1 sat = 1 sat
1 Big4 sat = 1.3 sat,
for example
If we figure ordinal support isn't ubiquitous yet, most users will consider their Big4 sats indistinguishable from standard sats. And they'll spend them as such. While the insiders are selling them off into the market.
This is not very different from mints and offerings we've seen the last few years. But worse, it can be nearly 100% transparent. We see mining rigs' work & outputs, but we can't see how all mining rigs are conducting business and where their profits are being generated.
Nick /
npub1su…cd8fn
2023-02-15 19:58:21
in reply to nevent1q…nmc5
Author Public Key
npub1sugugdzf448xlrpdj6v2w6v6rt5qczkxyswupfxcfnve0adnhszs9cd8fnPublished at
2023-02-15 19:58:21Event JSON
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"content": "If Ordinals catches on like BTC caught on, it'll create a free \u0026 clear arbitrage opportunity for anyone on the inscribing end of these blocks.\n\nImagine a cartel of Amazon, MSFT, and , all colluding with a pool to inscribe BTC with a \"Big4-flavored\" inscription granting you discounts, access, rights, etc. \n\nThis creates an obvious monetary increase.\n\n1 sat = 1 sat\n1 Big4 sat = 1.3 sat, \nfor example \n\nIf we figure ordinal support isn't ubiquitous yet, most users will consider their Big4 sats indistinguishable from standard sats. And they'll spend them as such. While the insiders are selling them off into the market.\n\nThis is not very different from mints and offerings we've seen the last few years. But worse, it can be nearly 100% transparent. We see mining rigs' work \u0026 outputs, but we can't see how all mining rigs are conducting business and where their profits are being generated.",
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}