ORDINALS ARE RETARDED - Giacomo Zucco
summary
Argues ordinals/inscriptions are not new but a reinvention of sat coloring from 2012: giving each satoshi a number and attaching metadata recreates old fungibility, privacy and scaling problems. Notes on-chain data became cheaper after SegWit 75% fee discount (Taproot only ~4.4% best-case), inscriptions bypass mempool standardness by paying miners off-chain, and BRC-20 is engineered to maximize spam and even spawns unprunable inscriptions that force nodes to store useless data.
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chapters (15)
- 0:00Introduction to ordinals
- 1:04Defining ordinals & myths
- 2:36The history of colored coins
- 3:56Eternal September in Bitcoin
- 6:27Early colored coin initiatives
- 10:33Problems with colored coins
- 13:07Progression to meta protocols
- 15:51Data encoding on the chain
- 18:53Early data encoding examples
- 21:02Risks of blockchain spam
- 23:30The return of colored coins
- 25:14Role of Taproot and Segwit
- 26:53Ordinals infrastructure
- 28:44Is it spam or innovation?
- 29:44Conclusion and recommendations
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