Ordinal theory has unleashed a new wave of NFTs, memecoins and innovation on Bitcoin — but not without controversy. Bitcoin educator Dan Held and Bitcoin Frontier Fund Managing Partner Trevor Owens join the show to discuss the breakneck rise of BRC-20s and why they’re both bullish on what memecoins mean for the original blockchain.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.

Show highlights:

what ordinal theory is and how it enabled Bitcoin “NFTs”
how the Ordinals Protocol differs from the ERC-721 token standard used by many Ethereum NFTs
how BRC-20s work by relying on some off-chain mechanisms
why Bitcoin is not a “dinosaur chain,” according to Dan
why Trevor says BRC-20 memecoins are superior to those on Ethereum
what the practical utilities of BRC-20s are, if any
why transaction fees in Bitcoin rose so much and why it’s healthy for the network
whether innovation is coming back to Bitcoin
whether Satoshi Nakamoto would have approved of Bitcoin NFTs
the role of speculation in fueling bitcoin adoption
the current and future state of layer 2s on Bitcoin
why Dan says BRC-20s “absolutely” solve the problem with Bitcoin’s security budget
why it’s hard to determine an “appropriate” amount for the security budget of Bitcoin
how the NFT market could be shaped after the rise of Ordinals and BRC-20s
what needs to be developed so that BRC-20s can flourish

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Guests:

Dan Held, Bitcoin educator and marketing advisor at Trust Machines
Trevor Owens, managing partner at Bitcoin Frontier Fund

Previous coverage of Unchained on Ordinals:

Bitcoin Ordinal NFTs Are Hot and Getting Hotter. What's the Hype About? - NFT Crypto

Links

Unchained:
How to Create a Bitcoin Ordinal
Bitcoin Core Developers Mull Getting Rid of BRC-20 Transactions
Binance Briefly Halted Bitcoin Withdrawals Amid Network Congestion
Domo’s thread on BRC-20s
Anita Posch’s comments.on the high fees
Nic Carter: There's No Such Thing as High Fees on Bitcoin
Nic Carter’s MIT presentation: MIT Bitcoin Expo 2019 - 10 years of Bitcoin: Evaluating its Performance as a Monetary System
Decrypt: Michael Saylor: Bitcoin Ordinals Are a ‘Catalyst’ for Adoption
[bitcoin-dev] [Mempool spam] Should we as developers reject non-standard Taproot transactions from full nodes?

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