In this podcast, Joshua Henslee goes in-depth on the impact of Ordinals on Bitcoin, the value of costs, and why he will remain a BSV blockchain player despite all the action in BTC nowadays.
Many economists and pundits are questioning the necessity of blockchain technology, as they ask what is the purpose of the Bitcoin system, if it requires the use of banking, accounts and dollars to operate.
Thanks to the smart folks who created the Ordinals, the BTC network exploded with activity recently, but sadly the network performance slowed to a halt, forcing even Binance to halt withdrawals.
Apart from the possible BTC fork over Ordinals, Joshua Henslee says possible scenarios include an increase in block size or, worst, not doing anything at all, which would eventually kill it.
In this video, Joshua Henslee gives his take on the sudden jump in BSV price, which may indicate that the market is seeing something of value in the big block Bitcoin chains.
BTC proved it could tokenize with BRC-20 hitting a $100 million market cap, shattering the 'crypto' industry's long-held assumption that it wasn't capable and opening a new era in the digital currency space.
The rising prices of $Ordi signals the beginning of hyperbitcoinization, while it is something to look forward to, it is also possible that another fork is just around the corner.
BRC-20 only has three functions—deploy, mint, and transfer—and without Bitcoin script, the indexing of valid transactions is complex, but this did not stop the protocol from growing.