Cryptocurrency enthusiasts are no strangers to new developments and innovations in the crypto space, but how sustainable are they? Former Blockstream Chief Strategy Officer (CSO) Samson Mow recently weighed in on the matter during an interview with Crypto Hodler and made the argument that Ordinals, digital real estate and BRC-20 tokens are unsustainable.
Samson Mow provided an interesting insight into cryptocurrency sustainability with his discussion on the Ordinals. He argued that Ordinals, a type of derivative financial instrument which gives the holder the right to purchase other digital assetfrom the issuer when certain conditions are triggered, may not be sustainable in cryptocurrency markets. Mow noted that the Ethereum network’s scalability issues as well as the exorbitant costs for transactions could render Ordinals as not viable for many users.
Mow also commented on BRC-20 tokens, which are designed to represent virtual real estate or other digital assets. He argued that these tokens may not be a feasible solution for users, due to their complexity and the difficulties associated with securing them. He pointed out that most BRC-20 tokens are not supported by any centralized platforms or protocols, so it can be difficult to get assistance if needed.
Finally, Mow provided his thoughts on digital real estate. He argued that while digital real estate is a popular concept among cryptocurrency enthusiasts, it may be difficult to sustain in the long-term. He noted that the rising costs of digital real estate is an issue, as it can become cost-prohibitive for many users. He also noted that there can also be issues with digital real estate in terms of security and ownership, as many of these digital assets are not protected by any centralized laws or regulations.
In conclusion, former Blockstream CSO Samson Mow argued that Ordinals, BRC-20 tokens and digital real estate may not be sustainable trends in the crypto space. He cited scalability and cost issues, as well as security and ownership concerns, as the primary drivers of his arguments. With the rapidly shifting landscape of the cryptocurrency market, only time will tell if Mow is right.
Jennifer Peterson
- 2023-05-14
Are Ordinals, BRC-20 Tokens and Digital Real Estate Sustainable?
In a recent interview, former Blockstream CSO Samson Mow provided his thoughts on the sustainability of Ordinals, BRC-20 tokens and digital real estate. He cited scalability and cost issues, as well as security and ownership concerns, as the primary drivers of his arguments.
