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 <a href="https://podcasts.apple.com/us/podcast/unchained/id1123922160">Apple Podcasts</a>,<a href="https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf"> Spotify</a>,<a href="https://overcast.fm/itunes1123922160/unchained"> Overcast</a>,<a href="https://podcastaddict.com/podcast/4129535"> Podcast Addict</a>,<a href="https://pca.st/podcast/bb16e6b0-1469-0134-a447-13e6b3913b15"> Pocket Casts</a>,<a href="https://www.stitcher.com/podcast/forbes-podcast-network/unchained-big-ideas-from-the-worlds-of-blockchain-and-fintech"> Stitcher</a>,<a href="https://castbox.fm/channel/Unchained-id1370321"> Castbox</a>,<a href="https://www.google.com/podcasts?feed=aHR0cDovL3VuY2hhaW5lZC5saWJzeW4uY29tL3VuY2hhaW5lZA%3D%3D"> Google Podcasts</a>, <a href="https://tunein.com/podcasts/Business-News/Unchained-Big-Ideas-From-The-Worlds-Of-Blockchain-p887100/">TuneIn</a><a href="https://music.amazon.com/podcasts/f5ec630d-4dfa-4e73-baca-3f5062927c55/unchained?refMarker=null">, Amazon Music</a>, or on your favorite podcast platform.Show highlights:<ul>
<li>what ordinal theory is and how it enabled Bitcoin “NFTs”</li>
<li>how the Ordinals Protocol differs from the ERC-721 token standard used by many Ethereum NFTs</li>
<li>how BRC-20s work by relying on some off-chain mechanisms</li>
<li>why Bitcoin is not a “dinosaur chain,” according to Dan</li>
<li>why Trevor says BRC-20 memecoins are superior to those on Ethereum</li>
<li>what the practical utilities of BRC-20s are, if any</li>
<li>why transaction fees in Bitcoin rose so much and why it’s healthy for the network </li>
<li>whether innovation is coming back to Bitcoin</li>
<li>whether Satoshi Nakamoto would have approved of Bitcoin NFTs</li>
<li>the role of speculation in fueling bitcoin adoption </li>
<li>the current and future state of layer 2s on Bitcoin</li>
<li>why Dan says BRC-20s “absolutely” solve the problem with Bitcoin’s security budget</li>
<li>why it’s hard to determine an “appropriate” amount for the security budget of Bitcoin</li>
<li>how the NFT market could be shaped after the rise of Ordinals and BRC-20s</li>
<li>what needs to be developed so that BRC-20s can flourish</li>
</ul><h3>Thank you to our sponsors!</h3><ul><li><a href="https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021">Crypto.com</a></li></ul><h3>Guests:</h3><ul>
<li>
<a href="https://twitter.com/danheld">Dan Held</a>, Bitcoin educator and marketing advisor at Trust Machines </li>
<li>
<a href="https://twitter.com/TO">Trevor Owens</a>, managing partner at Bitcoin Frontier Fund</li>
</ul><h3>Previous coverage of Unchained on Ordinals:</h3><ul><li><a href="https://unchainedcrypto.com/bitcoin-ordinal-nfts-are-hot-and-getting-hotter-whats-the-hype-about/">Bitcoin Ordinal NFTs Are Hot and Getting Hotter. What's the Hype About? - NFT Crypto</a></li></ul><h3>Links</h3><ul>
<li>Unchained: </li>
<li class="ql-indent-1"><a href="https://unchainedcrypto.com/how-to-create-a-bitcoin-ordinal/">How to Create a Bitcoin Ordinal</a></li>
<li class="ql-indent-1"><a href="https://unchainedcrypto.com/bitcoin-core-developers-mull-getting-rid-of-brc-20-transactions/">Bitcoin Core Developers Mull Getting Rid of BRC-20 Transactions</a></li>
<li class="ql-indent-1"><a href="https://unchainedcrypto.com/binance-briefly-halted-bitcoin-withdrawals-amid-network-congestion/">Binance Briefly Halted Bitcoin Withdrawals Amid Network Congestion</a></li>
<li>Domo’s <a href="https://twitter.com/domodata/status/1633658974686855168?s=46&t=jalJsCZZQAGOJ3L-bvfu9g">thread on BRC-20s </a>
</li>
<li>Anita Posch’s <a href="https://twitter.com/AnitaPosch/status/1655459803957739520?s=20">comments.on the high fees</a>
</li>
<li>Nic Carter: <a href="https://www.coindesk.com/consensus-magazine/2023/05/09/theres-no-such-thing-as-high-fees-on-bitcoin/">There's No Such Thing as High Fees on Bitcoin</a>
</li>
<li>Nic Carter’s MIT presentation: <a href="https://www.youtube.com/watch?v=AyOyNF-bCkA">MIT Bitcoin Expo 2019 - 10 years of Bitcoin: Evaluating its Performance as a Monetary System</a>
</li>
<li>Decrypt: <a href="https://decrypt.co/139546/michael-saylor-bitcoin-ordinals-are-catalyst-adoption/">Michael Saylor: Bitcoin Ordinals Are a ‘Catalyst’ for Adoption</a>
</li>
<li><a href="https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-May/021620.html">[bitcoin-dev] [Mempool spam] Should we as developers reject non-standard Taproot transactions from full nodes?</a></li>
</ul> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

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Bitcoin’s BRC-20 Mania: Is It Sustainable? - Ep. 493

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