The Intersection of Bitcoin Satoshis and NFTs: Wallet Challenges and Community Reactions

Muneeb Ali, co-creator of Stacks, discusses the Bitcoin trend that has everyone – or at least, many Bitcoiners – buzzing: Bitcoin ordinals. Ali explains why it is that they’ve taken up block space, pushed Bitcoin fees higher, and caused controversy in the community. Plus, he explains why the phenomenon has generated excitement about Stacks.

Show highlights:

• how Ordinals technology works to enable NFTs in the Bitcoin blockchain
• the difference between NFTs in smart contracts platforms like Ethereum vs. NFTs in Bitcoin
• the way in which the Taproot upgrade allowed Ordinals technology to exist
• what security measures to take in order to protect one’s Bitcoin NFTs
• why the Bitcoin maxi community reacted negatively to Ordinals 
• why Stacks jumped so much in price after the release of Ordinals
• what Muneeb thinks is the significance of Yuga Labs launching NFTs on Bitcoin

Thank you to our sponsors!

• Crypto.com
• Railgun DAO 

Guest

Muneeb Ali, co-creator of Stacks

• Twitter
• Previous appearance on Unchained: Blockstack On Getting Independence From Google, Facebook And Amazon

Links

• Unchained: BAYC Creator Yuga Labs to Launch Bitcoin Ordinal NFTs
• Decrypt: What Are Ordinals? A Beginner's Guide to Bitcoin NFTs
• Dune: Ordinals - Inscriptions on Bitcoin

Episodes about Bitcoin mentioned in the show: 

• Does Maximalism Help or Hurt Bitcoin? Lyn Alden and Udi Wertheimer Debate
• Eric Wall and Udi Wertheimer on Why Bitcoin Maximalism Is ‘Like a Shitcoin Community’
• Is Bitcoin Doomed to Fail? Eric Wall and Justin Bons Face Off

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