Leaving aside the question of what Bitcoin is for, there is a very clear point here. In other words, Bitcoin isn’t scaling, and criticizing Ordinals doesn’t change that reality – 10 books to read on Sunday, based on columns and interviews published this week.
Can Bitcoin become a global payment method when it cannot keep up with the popularity of memecoins?
Many bitcoiners are frustrated by rising fees due to a surge in transactions on the bitcoin blockchain. Fees are determined through a competitive bidding process, but on May 8, a simple Bitcoin (BTC) transaction soared to a staggering $30.19 (about 4000 yen). Prior to that, it had been hovering around $2 (about ¥270) for almost two years since July 2021.
The situation has become so tense that some bitcoiners, especially those known as “maximalists,” have proposed censoring BRC-20 tokens and other tokens using a new issuance scheme called “Ordinals.” …read more
Generative AI, as it stands, will have a negative impact on Web3
We see an opportunity at the intersection of ChatGPT and Web3 technology. The buzz around generative AI and technologies like ChatGPT and GPT-4 has become familiar, and Web3 is no exception. AI-related crypto assets are hitting historic highs, and there is even a new venture fund investing at the intersection of generative AI and Web3.
While exciting the possibilities of combining technologies like ChatGPT with Web3 infrastructure, the Web3 community must face the reality that most of the value of generative AI is captured in traditional Web2 infrastructure. …read more
Bitcoin Transaction Fees Can’t Be “Too High”
Veterans of Bitcoin’s blocksize wars from 2015 to 2017 witnessed a strange scene this week. Bitcoiners were complaining about high transaction fees. For those of you who don’t know what the mystery is, let’s take a quick look back at history.
The “small blockers” that won the blocksize wars have championed the existence of congestion transaction fees as a necessary price to pay for maintaining decentralization.On the other hand, …Read More
The impact of the US debt ceiling problem on Bitcoin
American politicians are now stuck in a heated and ridiculous debate over a strange twist in American law called the “debt ceiling.” Since 1917, America’s budget allocation process has separated the actual budget (already approved by Congress) from the government’s ability to sell bonds to pay for it. …read more
Frogs, Frenzy and Fees: Bitcoin’s New Governance Issues
That’s why we can’t get good things no matter how long it takes. Just when we thought we had learned lessons from the failures of FTX, Three Arrows Capital, Celsius, and others, the memecoin boom hit us again.
The crazy crypto casino is back! While some people make a ton of money with frog-themed meme coins, others suffer a lot from skyrocketing fees. …read more
Should BRC-20 Tokens Be Censored? ──Developers’ opinions are divided
A large number of BRC-20 tokens issued using the Ordinals protocol are congesting the Bitcoin network and driving up transaction fees. This has sparked a debate among Bitcoin developers about how to quell the on-chain frenzy. …read more
Consensus Pitch Contest Winner: Rise Pays Payroll in Crypto Assets
Receive salary in crypto assets (virtual currency)? Research suggests that younger employees prefer such ideas. Ohio-based startup Rise is targeting companies that want the flexibility to choose whether to receive their salaries in fiat currency or cryptocurrencies. The company’s project won the Consensus PitchFest competition held by CoinDesk last month. …read more
Music albums as an asset class
The music industry has always been a creative space, but with the advent of NFTs, it’s changing like never before. NFTs are about to open the door to endless possibilities not only for investment, but also for the music industry. Consider a specific use case. …read more
Tokenization is key to revolutionizing the EV industry
Electric vehicles (EVs) are one of the hottest technologies right now. Last month, the Biden administration announced a historic policy to promote the spread of EVs. Under new regulations from the Environmental Protection Agency (EPA), by 2030, at least 50% of all new cars built in the US must be electric.
Blockchain is not only necessary to enable this supply chain. It’s the only way to ensure transparency and human rights as America decarbonises. …read more
Ethereum Staking Needs Tamper-Free Benchmarks
Every industry scales through standardization. The move to Proof of Stake (PoS) on the Ethereum blockchain last year presented an opportunity to create a staking yield benchmark. This benchmark can serve as the basis for financial instruments based on historical yields. …read more
｜Text and editing: coindesk JAPAN editorial department