Bitcoin developer Luke Dashjr has been unsuccessful in rallying support for a proposed “bug fix” to the Bitcoin code that would halt Ordinals and Inscriptions on the blockchain. Dashjr’s proposal was aimed at addressing the congestion caused by Ordinals and BRC-20 tokens on the Bitcoin network. However, the Bitcoin community has been divided on the issue, and without a majority consensus, the decentralized nature of the blockchain prevents any changes to the code.
Core developer Ava Chow concluded the meeting, stating that the PR was “controversial” and the debate had reached a “stalemate.” She expressed that in its current state, the PR has no chance of reaching a conclusion that everyone can agree on.
Dashjr, a key figure in Bitcoin development, had suggested a solution to “spam filtration” in part of the Taproot transactions, intending to block Ordinals and BRC-20 tokens, which he sees as exploiting a vulnerability in Bitcoin Core. Despite his concerns over network integrity, Dashjr’s stance has sparked a debate over the decentralized nature of Bitcoin’s governance. His proposal to implement the fix in Bitcoin Knots v25.1, a derivative of Bitcoin Core that he maintains, has not been adopted in the upcoming v26 release of Bitcoin Core, with hopes for its inclusion in v27 next year.
Dashjr’s bold assertion that “Ordinals never existed to begin with. It’s all fraud” has further fueled the controversy.
The Bitcoin community continues to debate whether Ordinals are beneficial or detrimental to the Bitcoin ecosystem. Supporters, including Michael Saylor, argue that Inscriptions and Ordinals are an innovation that has renewed interest in Bitcoin. They claim that the market wants Ordinals and Inscriptions as the rising fees show a clear demand for them. Supporters also argue that Ordinals are the perfect way to beta-test the Bitcoin blockchain for mass adoption and that these tokens have created a new revenue stream for miners that will continue to be lucrative long after the last Bitcoin is mined.
On the other hand, critics believe that Ordinals are an attack on Bitcoin and could undermine its credibility as “digital gold.” They argue that these tokens have caused unnecessary spam and congestion on the blockchain and should not be associated with Bitcoin. Developer Jimmy Song recently labeled Ordinals as the new altcoin pump and dump scam. He stated that investors have become more discerning about the difference between Bitcoin and all other cryptocurrencies, making it harder for scammers to create honey pots on other chains. Song claimed that scammers now use Bitcoin’s reputation and image to lure investors into new scam coins like Ordinals.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Luke Dashjr, Ava Chow, Jimmy Song, Michael Saylor |
| Companies | Bitcoin, Bitcoin Knots, Bitcoin Core |
| Currencies | Bitcoin |
| Securities | None |
