ORDI Price Dips Below 50 USDT after Bitcoin Developer Luke Dashjr Labels Ordinals as ‘Scam’
In Brief
Bitcoin Core developer Luke Dashjr’s criticism of Ordinals as a ‘Scam’ led to a sharp 9% decline in ORDI’s price.
Renowned Bitcoin Core developer Luke Dashjr recently criticized Ordinals — a Bitcoin network feature, as a scam, sparking significant market reactions.In a response to an inquiry about Ordinals, Dashjr dismissed of the feature as a “Scam”.
The statement has seemingly influenced the cryptocurrency market, notably affecting the price of ORDI.
Following Dashjr’s remarks, ORDI’s price fell sharply below 50 USDT, currently trading at 48.6 USDT. This represents a decline of over 9% within a mere 15 minutes, showcasing the impact of Dashjr’s comments on investor sentiment.
There are no such thing in the first place. Ordinals are just a scam
— Luke Dashjr (@LukeDashjr) December 7, 2023
Bitcoin Core Exploited by Ordinals?
Dashjr pointed out a vulnerability in Bitcoin Core, alleging that Ordinals and BRC-20 tokens exploit this flaw to send spam to the blockchain. This revelation puts the future of these tokens on the Bitcoin network into question.
In a related development, Sotheby’s Digital Art Department is making strides in the Ordinals art market. Sotheby’s announced its first auction featuring works from the mysterious artist Shroomtoshi’s BitcoinShrooms collection. This move marks Sotheby’s entry into the new sphere of digital art.
Dashjr’s discovery suggests that the fix to this vulnerability could lead to the end of Ordinals and BRC-20 tokens on the Bitcoin network. This development highlights ongoing challenges in ensuring blockchain security and integrity.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
More articles
Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
