wakoinc on Nostr: Ordinal theory is actually interesting (not to be confused with being valuable). The ...

Ordinal theory is actually interesting (not to be confused with being valuable). The issue is effectively “so what?.. you hold some print number of sat since the genesis block”.

Any inscription is not unique, or won’t be for long. Same basic issue as NFTs.

And serial numbers are useful for physical goods (counterfeiting or contractual identification/warranty) or in centralised systems (phone home software licensing, or order tracking)… otherwise they hold no real value.

When do you last remember ever checking a serial number in real life (outside of a business relationship) for any reason? Never.

Two things that hold no real value joined together doesn’t create value. Doesn’t mean a bull rush and burst cycle won’t happen… and “opportunists” won’t fill the mempool hoping to cash out on a craze.

It Bitcoin didn’t have a free market mechanism for transaction fees we would be in far more trouble. This is just part of a cycle.