ORDI's market price has dipped below 50 USDT, triggered by Bitcoin developer Luke Dashjr's assertion that Ordinals are a 'Scam.'

Renowned Bitcoin Core developer Luke Dashjr In recent comments, Dashjr criticized Ordinals—a feature within the Bitcoin network—denouncing it as a scam, which set off considerable movements in the market. This followed questions regarding Ordinals Dashjr dismissed the feature outright, calling it a 'Scam.'

This statement appears to have swayed market sentiments, causing notable fluctuations in the cryptocurrency sector, particularly affecting ORDI's price.

Following Dashjr’s remarks, ORDI’s The price of ORDI has plummeted beneath the 50 USDT threshold, currently trading at 48.6 USDT. This significant downturn, over 9% in just 15 minutes, illustrates how Dashjr's remarks have shifted investor perceptions.

Such a phenomenon doesn't exist at all; Ordinals are merely a scam.

— Luke Dashjr (@LukeDashjr) December 7, 2023

Bitcoin Core Exploited by Ordinals ?

Dashjr highlighted a potential vulnerability within the system, suggesting that both Ordinals and BRC-20 tokens are exploiting this weakness to generate spam on the blockchain. This revelation raises concerns about the sustainability of these tokens on the Bitcoin network. Bitcoin Core In a noteworthy update, Sotheby's Digital Art Department is making advancements in the Ordinals art marketplace, launching its inaugural auction featuring pieces from the enigmatic artist Shroomtoshi and the BitcoinShrooms collection. This event marks Sotheby's foray into the burgeoning landscape of digital art.

Dashjr's findings imply that rectifying this vulnerability could lead to the demise of Ordinals and BRC-20 tokens within the Bitcoin ecosystem. This situation underscores the enduring challenges related to maintaining security and trustworthiness in blockchain technology. announced Please be advised that the information presented on this page is intended strictly for informational purposes and should not be interpreted as legal, tax, investment, or financial guidance. It's crucial to invest only what you can afford to lose and to seek out independent financial counsel if there is any uncertainty. For more detailed information, we recommend checking the terms and conditions alongside the support resources offered by the issuer or promoter. MetaversePost is dedicated to providing accurate and impartial reporting, yet market conditions may change without prior notice.

Nik, a skilled analyst and writer at Metaverse Post, focuses on delivering cutting-edge insights into the rapidly evolving realm of technology, particularly regarding AI/ML, XR, VR, on-chain analytics, and blockchain advancements. His engaging articles inform a wide audience, helping them stay updated with the latest in technology. With a Master's degree in Economics and Management, Nik possesses a deep understanding of the business landscape and how it intersects with emerging tech.