21st February 2023 > > Ordinals part III.

tl;dr

Three more snippets from the brave new world of Ordinals. I promise we will talk about something else tomorrow.

Market Snap

Market Wrap

Two more breaches of $25k to the upside in the last day, and we are hovering just below this all-import psychological level. No sign of leveraged shorts getting involved suggesting to me that the market narrative might have changed for the positive. A decisive move higher is likely to be met with strong buying as confidence begets confidence.

Curious Cryptos’ Commentary – Another short commentary on Ordinals

Doom was simply the greatest ever first-person shoot-em-up up.

A version is now forever inscribed on the blockchain as an Ordinal:

https://ordinals.com/inscription/521f8eccffa4c41a3a7728dd012ea5a4a02feed81f41159231251ecf1e5c79dai0

Curious Cryptos’ Commentary – And another one

LTC (Litecoin) is a modified version of BTC dating back to 2011. It was designed to process transactions faster (a block every 2.5 minutes) and cheaper than BTC.

BTC has satoshis, LTC has litoshis.

The technology to create Ordinals has been hard forked to the LTC network. Inscription 0 is the MimbleWimble whitepaper that brings privacy to users – amounts transferred, and amounts held in a wallet, can be hidden from view. Functionality of that nature makes the concept of income tax increasingly untenable.

The cost of inscribing an Ordinal using BTC can be 10s of dollars, depending on its bandwidth.

Using LTC that cost is reduced to a matter of cents.

If Ordinals become a thing, the Litecoin network is likely to gain a higher profile, and much greater adoption.

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For disclosure purposes the CCC treasury has an investment in LTC.

Curious Cryptos’ Commentary – Ordinals are already a thing

CryptoPunks remain the gold standard for NFTs (non-fungible tokens).

Yesterday CryptoPunk 4155 was swapped for Ordinal Punk 16:

Ordinal Punks have already gained legitimacy.