Are Ordinals A Significant Risk To Bitcoin’s Ecosystem?

Moi kaikki – Hi all.

Pekka Kelkka aka Papa Blockchain here! Welcome to Papa Blockchain uncut web3 education channel.

BTC Ordinals are 100% wrong – why?

Developing or upgrading anything on major blockchain protocols such as Bitcoin or Ethereum should always be a community decision.

On Bitcoin, the process is called BIP Bitcoin Improvement Proposal

On Ethereum, it is called EIP Ethereum Improvement Proposal

The last 2 major BIPs were Segwit in 2017 – https://en.wikipedia.org/wiki/SegWit and Taproot in 2021 https://bitcoinmagazine.com/technical…

…and then came the Bitcoin “NFTs” Ordinals. The major change on the Bitcoin protocol without a community decision – without a BIP process!

Implementing Ordinals on the Bitcoin mainchain without the BIP process was 100% wrong!

Blockchain business is community driven – it is decentralized. Decision-making is decentralized. How Ordinals were implemented on the Bitcoin main chain was brutally wrong.

I support 100% all kinds of development on blockchain protocols but we must do it according to agreed procedures.

Ordinals are 100% wrong in that sense!

One thing is sure; Satoshi would have never accepted Ordinals on the Bitcoin main chain. Let’s respect the Satoshi’s White Paper. Let’s not develop applications on the mainchain. Bitcoin is meant for value transitions and to be the best store of value there is in the world

If you want to develop something on Bitcoin implement them on the Bitcoin layer2s such as Lighting Network, Liquid Network

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IS THIS THE BIGGEST RISK FOR BITCOIN?