BRC-20 Tokens are a Scam

BRC20 is a very weird and inefficient token standard built on top of Bitcoin, ordinal theory, and NFTs

To mint a BRC20, you create a ‘mint’ NFT with the amount to be minted, in competition with others via a priority gas auction

To transfer/sell an BRC20, you create a new… pic.twitter.com/kgJUuXW8Tb

— ChainLinkGod.eth (@ChainLinkGod) May 8, 2023

It's definitely an attack.

— FRΛNCIS ☣️bullbitcoin.com (@francispouliot_) May 6, 2023

gn

what happened today was the emergence of the brc-20 asset class

it wasn’t an attack, it wasn’t a ddos

taproot has just made it simple to productize the bitcoin blockspace into any arbitrary protocol

shitcoin trading protocols is an obvious buyer of that blockspace pic.twitter.com/KdAwWLCUEO

— Eric Wall 🧙‍♂️ Taproot Wizard #2 (@ercwl) May 8, 2023

Where are the Bitcoin security budget doomers now? 🦗 https://t.co/V5ehroJTDB

— Alex Gladstein 🌋 ⚡ (@gladstein) May 7, 2023

I’m in El Salvador 🇸🇻 right now. Just witnessed a cash withdrawal via #btc

This individual now had to pay $20 in fees for getting $100 out in a country where the avg. salary is $300-350

I want you to think about this when enabling gambling on fkn jpegs or meme coins.

This is… pic.twitter.com/RTVLqG7DNn

— Marce Romero (@MarceMR19) May 8, 2023

Can anyone explain how I'm going to onboard people with these fees?
Can't use on-chain, can't open channels.
Makes custodial Lightning the only option.
And all that because some people think it's fun to "break Bitcoin". Why not use Liquid or RSK? https://t.co/luuqLoNN7d

— Anita ⚡🏳️‍🌈 Bitcoin for Fairness (@AnitaPosch) May 8, 2023

Ok real talk

90% of Lightning laser-eye maxis on Nostr use centralized, custodial solutions

90% of Magicians trading ordinal inscriptions use non-custodial trustless PSBT atomic swaps pic.twitter.com/8Q0aPE0BLT

— Eric Wall 🧙‍♂️ Taproot Wizard #2 (@ercwl) May 10, 2023