NFTs Attacking Bitcoin? with Eric Wall & Casey Rodarmor
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 7 February 2023
⏱️ 76 minutes
🧾️ Download transcript
Summary
In today’s show, we’re talking about NFTs on Bitcoin. Yes, you read that right. NFTs are now part of Bitcoin. Ever since the launch of the Ordinals protocol, NFTs on Bitcoin are all anyone can talk about.
We brought on the man behind Ordinals and open source Bitcoin developer, Casey Rodarmor, and also Eric Wall, our Bitcoin expert to chat about all things NFTs on Bitcoin and what it might mean for Bitcoin’s future.
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Timestamps:
0:00 Intro
9:30 Ordinals
12:29 Ethereum vs. Bitcoin NFTs
14:28 Bitcoin Feature Timeline
17:55 Hard vs. Soft Forks
19:16 Bitcoin’s Segregated Witnesses
22:45 Ordinals Origin
32:11 Violating Bitcoin’s Core Philosophy
38:40 Illegitimate Bitcoin Transactions
41:13 Legitimate Bitcoin Transactions
53:55 Eric Prediction & Miner Game Theory
58:31 Bitcoin Fee Market
1:01:31 Fixed Bitcoin Fee Structure?
1:03:58 No Bloat Problem
1:10:38 Summary
1:16:21 Inscription 466
1:19:33 Bitcoin is Fun Again
1:23:50 Closing & Disclaimers
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Resources:
Eric Wall
https://twitter.com/ercwl
Casey Rodarmor
https://twitter.com/rodarmor
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://www.bankless.com/disclosures
Transcript
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| 0:00.0 | Welcome to Bankless, where we explore the frontier of internet money and internet finance. |
| 0:12.0 | This is how to get started, how to get better, and how to front run the opportunity. |
| 0:15.7 | I'm David Hoffman, here without my co-host, Ranch on Adams. |
| 0:18.8 | But nonetheless, we are here to help you become more bankless. |
| 0:21.7 | And on today's show, this is a very special episode, we are talking about NFTs on Bitcoin, |
| 0:27.1 | and this has been the absolute talk of the Bitcoin or World ever since. |
| 0:31.7 | Ordinals, this new protocol has started to fill up all the Bitcoin block space with |
| 0:37.0 | JPEGs. |
| 0:38.0 | Yes, you heard that right with NFTs. |
| 0:40.5 | NFTs are now part of Bitcoin, and it's through this brand new protocol called Ordinals, |
| 0:45.8 | which is doing some interesting stuff with Bitcoin block space, and it has caused a bunch |
| 0:50.5 | of controversy as to whether or not this is a legitimate use case of Bitcoin. |
| 0:56.8 | Is that even a fair thing to charge an app with being illegitimate? |
| 1:02.2 | Some people think that this is banning the Bitcoin blockchain? |
| 1:05.4 | Other people think that this is just what you're allowed to do with Bitcoin. |
| 1:08.6 | If you pay the Bitcoin fee, then you're able to get into the Bitcoin blockchain. |
| 1:12.7 | There's been some other conversations as well as what can you do with NFTs on Bitcoin? |
| 1:17.1 | Is this really anything useful, or is this just a place to put monkey pictures on Bitcoin? |
| 1:22.2 | Did you know, Bankless listener, that you can actually run Doom on Bitcoin? |
| 1:26.4 | I actually do play a little bit of Doom live here on the show. |
| 1:30.9 | My two guests are Casey Rodamore, who is the creator of Ordinals, this protocol that is |
| 1:35.4 | filling up Bitcoin block space with JPEGs, and also my good friend, Eric Wall, who is |
... |
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