BRC-20 Tokens are a Scam
![BRC-20 Tokens are a Scam](/content/images/size/w960/2023/05/BRC20-tokens-are-a-scam.png)
Video:
Bitcoin Ordinals fix the security budget
![](https://www.cryptoslav.io/content/images/2023/05/image.png)
How Bitcoin Ordinals work
![](https://academy-public.coinmarketcap.com/optimized-uploads/b400d79c2c2f441aafef14a5228372a1.png)
How BRC-20s work
![](https://cdn.discordapp.com/attachments/1074916879530983484/1106066963924521000/icrus_dollar_bill_with_a_post-it_sticker_attached_to_it_fd70ee09-317f-4b82-975d-e6292b5e814a.png )
BRC-20s are not even "real" tokens
BRC20 is a very weird and inefficient token standard built on top of Bitcoin, ordinal theory, and NFTs
— ChainLinkGod.eth (@ChainLinkGod) May 8, 2023
To mint a BRC20, you create a ‘mint’ NFT with the amount to be minted, in competition with others via a priority gas auction
To transfer/sell an BRC20, you create a new… pic.twitter.com/kgJUuXW8Tb
It's definitely not an attack
It's definitely an attack.
— FRΛNCIS ☣️bullbitcoin.com (@francispouliot_) May 6, 2023
![](https://i.imgflip.com/7lbt57.jpg)
Not the adoption you want, but the adoption you deserve
gn
— Eric Wall 🧙♂️ Taproot Wizard #2 (@ercwl) May 8, 2023
what happened today was the emergence of the brc-20 asset class
it wasn’t an attack, it wasn’t a ddos
taproot has just made it simple to productize the bitcoin blockspace into any arbitrary protocol
shitcoin trading protocols is an obvious buyer of that blockspace pic.twitter.com/KdAwWLCUEO
Fees moon...for now
https://dune.com/cryptokoryo/brc20
Where are the Bitcoin security budget doomers now? 🦗 https://t.co/V5ehroJTDB
— Alex Gladstein 🌋 ⚡ (@gladstein) May 7, 2023
The fallout: muh expensive transactions
I’m in El Salvador 🇸🇻 right now. Just witnessed a cash withdrawal via #btc
— Marce Romero (@MarceMR19) May 8, 2023
This individual now had to pay $20 in fees for getting $100 out in a country where the avg. salary is $300-350
I want you to think about this when enabling gambling on fkn jpegs or meme coins.
This is… pic.twitter.com/RTVLqG7DNn
Can anyone explain how I'm going to onboard people with these fees?
— Anita ⚡🏳️🌈 Bitcoin for Fairness (@AnitaPosch) May 8, 2023
Can't use on-chain, can't open channels.
Makes custodial Lightning the only option.
And all that because some people think it's fun to "break Bitcoin". Why not use Liquid or RSK? https://t.co/luuqLoNN7d
Nic is right: There's No Such Thing as High Fees on Bitcoin
![](https://www.coindesk.com/resizer/xib24SYhWNUpIGMcS3P4xbXYRv0=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/ZS4YSVISFFGDJE4IGBFVLYQMXQ.jpg)
Litecoin gud coin
![](https://www.coindesk.com/resizer/Hl4v23hg_PHbbkM3GXs-VaIAH-Y=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/7K7C7AGGUFC3LPWKSMOQRW6TFY.jpg)
Lightning Network to the rescue? (spoiler: no)
![](https://www.cryptoslav.io/content/images/2023/05/pepe-glasses-beard-computer-nerd.png)
Ok real talk
— Eric Wall 🧙♂️ Taproot Wizard #2 (@ercwl) May 10, 2023
90% of Lightning laser-eye maxis on Nostr use centralized, custodial solutions
90% of Magicians trading ordinal inscriptions use non-custodial trustless PSBT atomic swaps pic.twitter.com/8Q0aPE0BLT
Bitcoin can't handle it (and doesn't want to)
![](https://www.coindesk.com/resizer/-8zAK9WZKQt4wIcQgCNg3ciWjn0=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/PKQELE3BWRDWNDUNL7ZMHXAJKE.jpg)