Jimmy Song: Ordinals are essentially a kind of altcoin scam.

Ritu13

Golden Finance reports that Bitcoin developer Jimmy Song has expressed skepticism about the Ordinals protocol. Song believes that Ordinals is essentially a scam of an altcoin, cleverly using the Bitcoin brand to deceive people. He thinks that by building on the Bitcoin network and adopting narratives commonly associated with flagship cryptocurrencies such as sound money and self-sovereignty, Ordinals leverages Bitcoin's popularity to appear legitimate and trustworthy.

This is why Ordinals and BRC-20 are becoming more and more popular. Now, issuing tokens on Ethereum or Solana almost inevitably earns the nickname "shitcoin." The gap between Bitcoin and altcoins is too significant, making it more challenging to deceive newcomers by bridging this gap.

Song believes that peeling back the layers of the Ordinals movement reveals a similar "pump and dump" nature to altcoins. Altcoins focus on token sales and speculation rather than advancing the mission of Bitcoin economic freedom.

Yamini003

As far as I'm concerned, all altcoins seem like scams.

Ritu77

It's essential to understand the nature of these altcoins.