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Yes, I had to try an #ordinal #inscription on some #litecoin #ltc #sats. But wha ... by oaldamster

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· @oaldamster ·
$1.85
Yes, I had to try an #ordinal #inscription on some #litecoin #ltc #sats. But wha ...
... t is the big deal? #hive can store #json data way cheaper and faster. #h20 Token? Or even a 8 KiB (x5) BLOB? (Not sure.) Add a number sequence and hey presto: ordinals. 🤔 


https://media.giphy.com/media/j0LlXxzOfBz2QbrG0W/giphy.gif <br /><br /> Posted via <a href="https://d.buzz" data-link="promote-link">D.Buzz</a>
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vote details (20)
@ackza ·
because its on bitcoin... 
not something everyone says is centralized like hive... not enough people on hive... hive cant be as decentralized as eth or btc by design because it does too much.. all dpos is centralized in the markets eyes.  <br /><br /> Posted via <a href="https://d.buzz" data-link="promote-link">D.Buzz</a>
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vote details (1)
@oaldamster ·
Mine are on inscribed on Litecoin Sats actually. And I think the brandname of Bitcoin has absolutely an effect on the whole ordinals thing. Even though I think it is kind of nuts, looking at the numbers and the value involved. Same goes for NFTs that have no utility except speculation. But for others that might be different. 

The decentralized or not discussion is an old endless one. And I might have chosen a different setup from the start myself. Just like 1 account 1 vote and so on. But, Hive is what it is. 

Everbody and their mother can start a blockchain these days. If they really want to, that is. Therefore there might be systems that suit you way better. Or me for that matter. Maybe there's different ones that more or less are okay to use. 

Hive can store JSON 'ordinals' data, way cheaper and faster than many other chains out there. 

But it is not interesting really, I think, until there is some real utility in using ordinal inscription.
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@ackza ·
why store json data when you can just make a free nft woth opensea to write a post? 

hive isnt something the market trusts. more people still use steemit lol even coingecko proved that.  <br /><br /> Posted via <a href="https://d.buzz" data-link="promote-link">D.Buzz</a>
👍  
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vote details (1)
@oaldamster ·
There are all kinds of possibilities. Some I have tried. Some I like, others I have lost my interest for. Everybody their own. 

And it is possible to use Hive in several ways. You may dislike that, disapprove the way Hive functions, prefer other blockchains and solutions. 

That does not change the fact that JSON data can be stored on the Hive blockchain. And that  it is technically possible to deploy, mint and deploy Coins / Tokens. Even create ordinals, in a way. 

Does not mean it has to, but it can be done. 

And if you think there are better ways or you prefer other blockchains then that is alright too. And you are also free to mock everything as much as you like too! 😄👍
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@meesterboom ·
$0.08
Was it easy? Will it be a thing that sticks?
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vote details (1)
@oaldamster ·
It was pretty easy. Had the inscribed Sat(s) send to an LTC SegWit address in CoinOmi. 

You cannot view the content in the CoinOmi Wallet (yet). But you can, and should lock the unspend output address that you received the inscribed Sat in. 

And I guess it will stick like super glue. 😄 

Cheapest (important to me coming from Nederland, next best thing after _gratis_.) service so far was Ordinals Lite. https://ordinalslite.xyz/ 

Deployed a Token / Coin and minted 1, known as GPMC. Pretty straightforward process. 

https://litescribe.io/search?q=GPMC

Set minting to 1 max. And the total amount to 20090103, which is inspired by a special date. 

One mint, using ordinal lite, will cost about USA$ 1.40, probably more right now as LTC is going up. 

But you could deploy your own of course! Which adds to the fun. 

You might want to set mint to the maxCOIN you are going to deploy first. And mint all of them right away. 

You could even deploy the Coin logo on chain. 😎
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@mehmetfix ·
$0.08
Also transfers and other things on the Hive Blockchain are both much cheaper and much faster. <br /><br /> Posted via <a href="https://d.buzz" data-link="promote-link">D.Buzz</a>
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vote details (1)
@oaldamster ·
Exactly, but somehow many find it perfectly okay to pay enormous amounts of value to get an ordinal inscription on Bitcoin. Just like more than a few pay extremely high gas prices to move something on Ethereum. 

Somehow it defies all logic for me. Guess I'll never get that. Nor will I join in. It is weird to me. 

Like storing an image, or other data on the Bircoin blockchain. For some of those prices payed I can store Terabytes on Arweave! And faster too, with an address to access it anytime I want. Or even serve websites on it. 

And Hive can handle a lot, storing JSON data too. Faster and cheaper. 

Some things can not be understood by rationalizing them.
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@mehmetfix ·
$0.08
Hmmm I can't say I fully understand them. But why exactly are you doing all this? Are you developing some kind of dApp? 🤔
👍  
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