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The Breakdown

Crypto Venture Funding is Down; But Bitcoin Building Continues

The Breakdown

Blockworks

Business, Investing

4.8806 Ratings

🗓️ 17 September 2023

⏱️ 12 minutes

🧾️ Download transcript

Summary

A reading of: https://www.coindesk.com/consensus-magazine/2023/09/11/ai-is-killing-crypto-venture-capital-interest/  https://bitcoinmagazine.com/culture/a-bitcoin-maximalists-ode-to-ordinals Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

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0:00.0

Welcome back to The Breakdown with me, NLW.

0:09.3

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

0:18.4

What's going on, guys? It is Sunday, September 17th, and that means it's time for Long

0:23.4

Read Sunday. Before we get into that, however, if you are enjoying the breakdown, please go

0:27.7

subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the

0:31.4

conversation, come join us on the Breakers Discord. You can find a link in the show notes or go

0:35.6

to bit.ly slash breakdown pod.

0:38.2

Hello friends, happy Sunday. Today we are reading parts of two pieces which on the surface

0:43.4

aren't really about the same thing, but which I think have more in common than it might seem,

0:49.3

as I will try to prove to you by the end of this conversation. The first piece is by L. Asher Corset, a partner at

0:55.7

UTXO Management, and was originally published in Bitcoin Magazine. The piece is titled,

1:01.8

A Bitcoin maximalists owed to ordinals. El Asher writes, as a Bitcoin maximalist, I love ordinals.

1:08.4

Other maximalists should also consider loving ordinals

1:11.2

as they demonstrate Bitcoin superiority in ways not previously possible. Ordinals enable

1:16.2

functionalities that undermine the need for other blockchains to even exist. The use cases

1:20.7

that were demonstrated on other blockchains are now possible natively on Bitcoin.

1:24.9

Despite Bitcoin's strengthening position, some self-proclaimed maximalists on

1:28.5

X, formerly Twitter, bizarrely celebrated decreased network fees, and declared Ordinals have failed.

1:34.6

This seemingly implies that Bitcoin might somehow benefit from a failure of the Ordinals

1:38.4

protocol and lower minor earnings. But ordinals haven't failed, and the interest isn't nearly

1:43.1

over. To the contrary, trading volume

1:45.3

across digital artifacts, unique Satoshi's, and BRC 20 tokens has been historic. According to CryptoSlam,

...

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