‘Communist Bitcoiners’ exposed by Ordinals as control freaks

Peter McCormack was frank in calling out the “Communist Bitcoiners” for their adverse reaction to Ordinals.

The What Bitcoin Did Podcast host said the best thing about Ordinals is how it “p*sses off” the Bitcoin zealots. He said the fallout uncovered those who seek absolute control and hate anyone making money.

“All the bitcoin control freaks have been exposed, they want to tell you what to think, feel and eat.”

McCormack admitted that Ordinals hinder Bitcoin as a monetary medium, but he proceeded to downplay their significance — calling them a fad that would soon fade.

The tweet was met with various responses, including criticism over whitewashing a potential attack vector, dissent over Ordinals as a fad, and debate regarding its monetary impact.

What’s the big deal with Bitcoin Ordinals?

Ordinals began gaining traction around the start of February. However, functionality to extend block sizes and store digital artifacts — including NFTs — has been available since the Taproot upgrade rolled out in November 2021.

Summarizing the situation, Binance stated that, despite the uproar, over 124,000 inscriptions had been made. Inscriptions refer to the metadata that forms the digital artifact.

“Despite push backs from “Bitcoin Maxis”, the Ordinals Protocol has continued to gain steam with over 124K inscriptions created to date.”

Recent investigations in the Bitcoin NFT landscape show huge FOMO — even for cloned collections. Furthermore, given the inadequate infrastructure, there is a distinct lack of transparency and a reliance on trust — which defies the tenet of trustlessness.

Analyst at CryptoSlate

Samuel is a strong believer in individual autonomy and personal freedom. He is a relative newcomer to the world of cryptocurrency, having first bought Bitcoin in early 2017, but keen to make up for the lost time.