Jimmy Song, a Bitcoin developer, has expressed skepticism towards the Ordinals protocol, likening it to the typical altcoin scams that have occurred over the past few years.
In a post on X, developer Jimmy Song argues that the Ordinals protocol is essentially a scam akin to those of altcoins, exploiting the Bitcoin brand to deceive people. By leveraging the Bitcoin network and adopting the narrative of “sound money” and self-sovereignty associated with Bitcoin, the Ordinals protocol may appear as a legitimate and credible project.
“That’s why ordinals and BRC-20 are becoming more popular. There’s little chance of escaping the “shitcoin” moniker by releasing a token on Ethereum or Solana now. The gulf between Bitcoin and altcoins is too wide and crossing that chasm, to scam newbies has become that much harder. But by releasing a token on Bitcoin, now there’s a lot more room for confusion. They can claim to be supporting Bitcoin through fees while running the same scam. It’s changing names and disguises so you don’t get caught. This is the snake oil salesman leaving one town to get a bunch of suckers in the next town.“
The Ordinals debate
Despite Song’s approach, other users have a different perspective on the Ordinals protocol. Recent concerns about network congestion, blockspace limitations, and rising transaction fees have sparked a debate on the topic, highlighting a division within the Bitcoin community. Some in the community view Ordinals, Inscription, and BRC-20 as spam and consider these projects as an attack on the Bitcoin network. Another faction of users believes that these are valid transactions as they adhere to the rules of the Bitcoin protocol, arguing that a permissionless network should be open to new developments and use cases.
