Crypto investor burns a Bored Ape for a Bitcoin Ordinal equivalent
Crypto investor burns a bored monkey for an ordinal bitcoin equivalent
Yuga Labs co-founder Greg Solano called the move “basically the same as any other translation.”
February 12 Jason Williams tweeted he burned Bored Ape #1626 for the equivalent of a bitcoin serial number.
“The NFT community is moving to BTC where ordinals have led to a real shortage of collectibles,” he tweeted announcing the burn.
“Done. Over. Won’t go back to ETH,” he wrote.
The move predictably drew the ire of many in the Bored Ape community, eventually reaching Yuga Labs co-founder Greg Solano (@CryptoGarga), who refuted via Twitter:
“This has not disappeared from ETH forever,” he wrote, “basically it is the same as any other transfer: if you transfer your monkey to an address that you no longer control (even if it is a write address), you are effectively up to your license. And no, before anyone asks, this does not mean that anyone can access the license. On the contrary: if the address belongs to no one, no one can.”
Sequence numbers have become a trendy tool for bitcoin node operators to get involved in fun projects. So far, they are traded between them only through small Discord channels, and no marketplace like OpenSea serves the demand/supply of the ecosystem.
@doc described the processing as “incredibly bad” in a recent Cryptooshala the story of the emergence of Bitcoin Ordinals. However, given the OG principle that the node runs on the most popular of the cryptocurrencies (Bitcoin), @dotta said it still feels like an “early alpha”.
It looks like fun in the early days of alpha
Clumsy exchange of ordinals in small Discord channels via trusted OTC is exactly what alpha tastes like.
You have a passionate group of people who see something special even though the instruments are incredibly bad.
Aside from the Ape record, it seems like Yuga Labs has a lot to worry about in the Ordinals space, mostly after it was revealed that another collection, Ordinals Punks, has also become a popular Ordinals-based collection.
Sequence numbers were made possible by the so-called Taproot software fork, which expanded the block limit from 1MB to 3MB, allowing labels to be placed on the Bitcoin network.
However, this sparked a heated discussion about whether adding arbitrary data to the blockchain is polluting the network. “If everyone publishes stupid cat jpegs on the blockchain, I can keep buying new hard drives for my node… Fuck this shit. Keep it up, compact people, ”one Reddit user. said.
Credit : cryptoslate.com