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Don’t Overlook Bitcoin Ordinals, Says Udi Wertheimer

2 mins
Updated by Kyle Baird
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In Brief

  • Udi Wertheimer champions Bitcoin Ordinals, countering critics and promoting their adoption as unique on the Bitcoin blockchain.
  • He defends ordinals enthusiasts, urging hands-on engagement for understanding the ecosystem and fostering development.
  • Wertheimer asserts Bitcoin's dual significance, emphasizing both Ordinals and its pivotal role as a store of value.
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Udi Wertheimer champions the adoption of Bitcoin Ordinals, pushing back against those aiming to eliminate them. However, many reject the concept of Bitcoin Ordinals, which are akin to non-fungible tokens (NFTs) but on the Bitcoin blockchain.

“I’m not trying to convince you that inscriptions/BRC20s/stamps/etc are not spam/scam/whatever,” the post stated.

People Should Experiment with Bitcoin Ordinals

In a post on X (formerly Twitter), Wertheimer states that people should not undermine Bitcoin ordinals enthusiasts and developers working in the space. He declares that “lots of ordinals teams have very strong devs.”

Instead, he encourages his 183,400 followers to experiment with Bitcoin Ordinals:

“So download an ordinals wallet, load it with ~0.005 BTC and start playing around. You’ll probably lose all of it. Your goal here isn’t to make money, it’s to understand the ecosystem and what makes it tick so that you can do something about it.”

According to Dune Analytics, Bitcoin Ordinals’ total fees to date are $227.2 million.

Bitcoin Ordinal Fees Paid (overtime) Diagram. Source: Dune Dashboard
Bitcoin Ordinal Fees Paid (overtime) Diagram. Source: Dune Dashboard

Read more: Bitcoin NFTs: Everything You Need To Know About Ordinals

Miners Anticipate Adoption of Bitcoin Ordinals

Furthermore, Wertheimer doesn’t believe Bitcoin Ordinals are the problem due to the lack of demand for Bitcoin payments:

“That’s the main reason why I believe ordinals are not a problem in the first place. It’s not like there are that many people who wanted to use BTC payments otherwise.”

However, Wertheimer emphasizes the significance of ordinals on the Bitcoin blockchain but asserts that, above all, he considers Bitcoin’s role as a store of value to be more crucial and paramount.

“As much as I think Ordinals are important, I have no doubt that BTC as store of value is more important, and this stuff will figure itself out eventually,” he stated.

BeInCrypto recently reported on Bitcoin Ordinals as attractive for Bitcoin miners. Bitcoin educator Kashif Raza commented that it had more incentive for miners:

“Ordinals have turned out to be a blessing for miners but for retail, its a nightmare to send micro transactions,” Raza stated.

Read more: How To Prepare for a Bitcoin ETF: A Step-by-Step Approach

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Ciaran Lyons
Ciaran is a cryptocurrency journalist based in Sydney, Australia. He particularly enjoys writing about CBDC developments and the practical implementations of cryptocurrency in real-world scenarios. He has also appeared across major television networks in Australia including Channel Ten, Channel Nine and SBS TV. Prior to his foray into cryptocurrency, Ciaran worked as a presenter on national radio station Triple J.