Ordinals
It is likely we'll see the 200,000th inscription put on the Bitcoin blockchain sometime today. What does this mean for Bitcoin?
📝 Today's Rundown
  • ⁉️ Ordinal Concerns: A look at inscriptions after a few weeks.
  • 👴 Three Generations: How Bitcoin reaches mass adoption in sixty years.
  • 📝 Long Form: Detailed narratives are a necessary part of Bitcoin.
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⁉️ Ordinal Concerns

Addressing Ordinal Concerns: Bitcoin Decentralization And Block Space
By Craig Deutsch                    

What are some of the concerns over the decentralization of Bitcoin and the use of block space due to the increasing number of inscriptions on the network? 

For one, the storage space used by inscriptions continues to increase, adding approximately 210.24 GB of data to the chain each year if the block space is consistently used to its full extent. This could cause concerns for Bitcoin's future decentralization if running a full archival node becomes costly, leading to centralization of the ledger.

While fees required to create inscriptions have dropped, the number of pending transactions in the mempool remains high, with no signs of letting up in the short term. The theory is that inscriptions will become a buyer of last resort for block space in times when fees are low and fewer people are transacting on-chain.

This is an excerpt from a recent edition of Bitcoin Magazine PRO, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.
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👴 Three Generations

The Three Generations Theory: How Bitcoin Reaches Mass Adoption In 60 Years
By Aleksander Svetski

Aleksander Svetski argues that Bitcoin adoption will take several generations to filter into society due to its nature as a techno-socio-economic transformation.

Svetski outlines the Three Generations Theory, which predicts that large-scale adoption will occur in the third generation, when children will come of age in a world where Bitcoin has always existed. Svetski emphasizes the need for patience and a long-term perspective when considering Bitcoin's potential impact.

Perhaps the third and second generations will look back upon ours as the progenitors of sound money. 
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📝 Long Form

Long Form: Why Detailed Narratives Are Necessary For Telling Bitcoin Stories
By Pierre Corbin

The story of Bitcoin being detailed in a comprehensive way is essential for increasing its global adoption. Long-format storytelling can help to explain the technology and its impact on the world, as well as create an emotional connection to it.

Pierre Corbin suggests key elements that should be included in the story of Bitcoin, such as its history, how it works, its values and principles, and its potential impact on the financial system and financial inclusion.

He also provides sources of inspiration for telling the story of Bitcoin and recommends several films that do a great job of presenting it.
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MEME OF THE DAY 

By @TheBTCTherapist

Eyes on the prize! Sound money is a low-time-preference journey, but the uprooting of the fiat monetary system is a worthy goal.

Enjoy your Monday,
@BtcCasey
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