Bitcoin Community Erupts In Existential Debate Over NFT Project Ordinals

Opponents of the protocol argue that Ordinal will compete with traditional payment transactions by crowding blocks and raising transaction fees. Rodermer disagrees. “I would say Bitcoin has this fee market pricing mechanism where you can pay fees according to the value of making a transaction,” Rodarmor said in an interview with CoinDesk. “And that goes for both financial transactions and inscriptions. So the fee market is dealing with how much people pay for a transaction, how much they think it’s worth, and miners choose the transactions with the highest fees. So it all fits in with Bitcoin’s security and incentive model.”