Samson Mow: Bitcoin Ordinals And BRC-20 Tokens Will Fade Away
According to Samson Mow, the CEO of JAN3, the recent excitement surrounding Bitcoin Ordinals and BRC-20 tokens is unsustainable and will diminish within months. In an exclusive interview with Cointelegraph, Mow expressed his skepticism about the longevity of these trends.
Former Blockstream CSO Samson Mow told Cointelegraph that the hype around Bitcoin Ordinals and BRC-20 tokens is unsustainable and will fade away in a matter of months and they are just as spam clogging the network. He said that mass adoption of Bitcoin will happen because of its…
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Fading Future for Bitcoin Ordinals
Mow highlighted the substantial fees associated with Bitcoin Ordinals and BRC-20 transactions, noting that these fees directly benefit Bitcoin miners. He asserted that this payment structure is not sustainable and emphasized that these trends will likely fade away within a matter of months, if not sooner.
The surge in interest surrounding Ordinals and BRC-20 has resulted in increased transaction fees and subsequent congestion on the Bitcoin network. While some members of the Bitcoin community view these developments as a potential driver for Bitcoin adoption, Mow disagrees, considering them nothing more than spam obstructing the network.
In Mow’s perspective, the true mass adoption of Bitcoin will be driven by its utility as a savings technology and a medium of exchange, rather than the minting of non-fungible tokens or the proliferation of digital art on the blockchain. He compared these trends to short-term money grabs observed on competing blockchain platforms like Ethereum and Solana.
Skepticism vs Potential
Mow’s remarks suggest a divergence of opinions within the cryptocurrency community regarding the value and long-term prospects of Bitcoin Ordinals and BRC-20 tokens. While some see potential for these technologies to enhance Bitcoin adoption, Mow remains skeptical and emphasizes the fundamental use cases of Bitcoin as a driving force behind its future growth.
As the cryptocurrency landscape continues to evolve, it remains to be seen whether the hype surrounding Bitcoin Ordinals and BRC-20 tokens will endure or fade away as Mow predicts. The discussion underscores the ongoing debates within the industry regarding the sustainable development and value proposition of various blockchain technologies.
