Are Bitcoin NFT's Breaking Bitcoin?‪!‬ The Crypto Ethic

Bitcoin NFT's or 'Ordinal Inscriptions' as they are technically known, are utilising a recent bitcoin upgrade/update and the creation of an Ordinal Protocol (which arbitrarily assigns each Satoshi a value) to place content directly on the bitcoin blockchain.

Those wanting to 'mint' bitcoin NFT's and place content on the bitcoin blockchain (with assignment to a particular satoshi) are paying to have this content added (usually saved for bitcoin transaction data) which is significantly driving up the price of block space (thus increasing bitcoin gas fees to unsustainable amounts).

This has created a lot of debate in the bitcoin space as to whether the recent Taproot and SegWit upgrades should be reversed to prevent bitcoin being used in this way.

In this video Crypto Ethic founder and lead coach Tansy Baigent and her co-host Anja Claus return to discuss this timely topic.


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