Is there still hope for ORDI and Bitcoin NFTs?

CN
8 hours ago

On September 9, after the publication of the article "Is There Still Hope for the Bitcoin Ecosystem?", many readers asked questions about some projects within the Bitcoin ecosystem in the comment section. Many of these questions were also mentioned again during the online discussions over the weekend.

This article aims to address these questions.

- Is there still hope for ORDI and SATS?

I maintain my previous viewpoint on this:

If the Bitcoin application ecosystem can thrive, then the value of early inscriptions like ORDI and SATS will continue to rise significantly, and as the Bitcoin ecosystem grows, their value will also increase.

However, if the Bitcoin application ecosystem fails to develop, then while there may be some potential for the value of early inscriptions like ORDI and SATS to rise, the potential will be very limited. They will merely be collectibles, and their collectible value lies in the fact that they commemorate a bold attempt and effort in the history of Bitcoin's development.

Currently, I believe the hope for the Bitcoin ecosystem to thrive is very slim, so I think their potential for future appreciation is quite limited.

On the other hand, we can also see the difference between Bitcoin and ORDI from their price movements:

Since September of last year, Bitcoin has reached an all-time high and has continued to rise. Meanwhile, the price of ORDI has been declining and has not followed Bitcoin's upward trend at all.

In this regard, Bitcoin stands alone; it does not seem to have a driving effect on inscription assets.

Since the potential for ORDI and SATS is limited, how should we handle them?

Should we sell or hold?

I think it depends on individual circumstances.

If someone unfortunately invested heavily in these inscriptions, looking back now, that decision clearly seems wrong. If it were me, I would unhesitatingly convert most of it into Bitcoin or Ethereum, keeping just a small portion as a collectible.

But if they only represent a small part of one's portfolio, then just hold onto them.

I have kept my ORDI and SATS.

Inscriptions were the driving force behind the launch of that round of the Bitcoin ecosystem. If their potential is only so limited, then the potential of other technology-derived assets (like STAMP, ORC, runes, etc.) is even more constrained.

I would not hesitate to get rid of those assets.

Recently, I listed my runes and similar items on the market, but I haven't checked if they sold. If they haven't sold, I will lower the price and continue selling.

- What about inscription NFTs?

For this type of asset, I would also treat them differently based on categories.

In fact, I have written in previous articles:

For some projects with historical value that do not require follow-up execution results, I will keep them indefinitely.

These NFTs are somewhat similar to CryptoPunks; they are a mark of an era. This type of NFT is something I believed in from the start—like the first 10,000 inscription NFTs. When I first saw them, although it was no longer early, I still unhesitatingly chose some that I liked to buy. I will keep them forever.

For some NFTs that are akin to artworks, like Pixel Goose, I have them and will keep them.

However, for projects that require follow-up execution results, I believe the risks are still quite high. If it were me and I had a large position, I would sell off the vast majority and keep only a small portion as a collectible. If the position is small, then just hold onto them.

Looking back now at those projects that were hailed as the next CryptoPunks or Bored Apes, it truly is quite lamentable.

- Setting aside CWS, BSV is the one that most aligns with the Bitcoin white paper.

When Bitcoin first forked into BCH, I was more optimistic about BCH, so I held onto my BCH until very late before selling it all.

Based on my understanding of Satoshi Nakamoto's past statements, I feel that the current block size of Bitcoin seems to be a temporary measure; Satoshi's ideal future for Bitcoin still involves expanding the block size.

However, that page has already turned; the current reality is that Bitcoin has tried to preserve the last appearance that Satoshi left behind. Whether or not this aligns with Satoshi's ideals, the current consensus has chosen this version of Bitcoin.

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