The recent rise in popularity of Bitcoin Ordinals and BRC-20 tokens has sparked excitement and curiosity within the crypto community. However, upon closer examination, it becomes apparent that there are several concerns and risks associated with these developments.

One of the primary concerns with Bitcoin Ordinals is the potential for the blockchain to become overloaded with these digital assets. Ordinals are effectively non-fungible tokens (NFTs) that are stored directly on the Bitcoin blockchain. While the concept of NFTs has gained traction in recent years, it is important to note that storing media or large files directly on a decentralized blockchain is not an efficient solution. It would require massive amounts of storage space and could lead to a significant increase in transaction costs and network centralization. Additionally, without proper infrastructure and marketplaces for trading these assets, it becomes difficult to determine their value or ensure their authenticity.

BRC-20 tokens are essentially tokens minted on the Bitcoin network, similar to Ethereum's ERC-20 tokens. However, there is limited infrastructure and ...