Will ORDI Price Go to Zero If Bitcoin Ordinals Are Censored?

The contentious issue of Ordinals on Bitcoin has sparked heated debates within the crypto community, causing concern for the price of the ORDI token. The debate escalated as core developers expressed intentions to censor Bitcoin Ordinals, with prominent figures such as Max Keiser denouncing them as a network “bug.”

The controversy began when Bitcoin core developer Luke Dashjr described Ordinals as a “vulnerability” spamming the blockchain, leading to concerns about their potential censoring. This sparked further discussion, with Bitcoin podcaster Peter McCormack highlighting the adverse impact of Ordinals on the use of Bitcoin for payments due to the high-fee environment they create.

While some proponents like Eric Lombrozo emphasized the futility of attempting to censor Bitcoin transactions, others like Ordinals developer Casey Rodamour see the asset as a solution to Bitcoin’s security challenges by incentivizing miners and promoting diverse demand sources for Bitcoin block space.

Despite the spike in Bitcoin transaction fees brought about by Ordinals, they have proven to be profitable for miners, leading to speculation about their potential long-term impact on the cryptocurrency market. Despite concerns about their impact, Ordinals remain one of the best-performing assets of the ongoing bull market, with a significant increase in value year-to-date.

The potential censorship or removal of the Ordinals protocol from Bitcoin could have a significant negative impact on the price of ORDI. This was evident when a whale reportedly dumped a substantial amount of ORDI following the vulnerability statement by Dashjr. However, the long-term implications of such actions remain unclear.

It is important to note that the information presented in this article is based on current debates and discussions within the crypto community. Readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

In line with the historic background, the emergence of Ordinals on Bitcoin represents a significant development in the ongoing evolution of the cryptocurrency market. The debates surrounding their impact on Bitcoin and the wider crypto community reflect the ongoing struggle to balance technological innovation with market stability and security.

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