In this video, I attempt to "steelman" the arguments in favor of Ordinals/inscriptions/NFTs on Bitcoin.
I conclude that adding inscriptions to the Bitcoin blockchain might be a good way of preserving documents or images in a way that cannot be censored or edited and that is globally distributed.
This is definitely not the best and highest use of the Bitcoin blockchain (which is to provide a decentralized ledger for the world's most sound money), but it's an interesting potential application.
Here are some interesting things that you could permanently embed in the Bitcoin blockchain using Ordinals:
Bitcoin white paper US Constitution Bible Koran Vedas Shakespeare sonnet Mozart string quartet Maxwell's Equations Einstein Field Equations Schrodinger Equation How To 3D Print Something To Protect Your Family How To Synthesize Useful Chemical Compounds Political manifestos 1984 Brave New World A true history of the events of 2020-2023 Critiques of CBDCs and warnings
Once embedded, these documents can never be erased, even if the original poster changes his mind or is coerced to change his mind.
It's almost like putting a very special ant in amber and saving it for the ages. This is Bitcoin as a "free speech repository."
I still wish that there weren't NFTs on Bitcoin, but I found this steelmanning exercise to be quite useful.
Not investment advice! Consult a financial advisor.
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#bitcoin #freespeech
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