Ordinal Loops: A Tribute To Bitcoin History, Built On Its Most Recent Innovation
The Ordinal Loops project aims to promote artistic activism and end fiat through the latest innovation in Bitcoin’s blockchain. It has been almost a month now since Ordinals came to light, and Bitcoin has never been the same. This article by Stephan Livera provides background information and dives into the technical aspects as well as the political issues that Ordinals present. Although there are some opinions that can be disputed and assumptions that cannot be predicted, the article is a great entry point into data inscription. Bitcoiners spent hours explaining how the protocol works, as well as the steps to set up their own nodes and inscribe art. It is hard to know how many orange-colored lightbulb moments have occurred in recent times, but it is evident from the number of requests received and the peer-to-peer conversations that this has been quite a lot. According to bitnodes.io data, the number of Bitcoin nodes has increased by more than 28% since January. Taproot adoption has increased to almost 10%, with a dramatic surge in recent days, as shown by Glassnode. Ordinal Loops
Let us now present Ordinal Loops (OL), a review and history of Bitcoin’s current existence. We also have some historical precedent in the form 21 ASCII-formatted, low-byte-size artifacts or Ordinal inscriptions that guide new explorers to grasp the fundamental pillars. This project is meant to support the growth in Bitcoin’s network effects and security budget. Our team was originally focused on organizing Bitcoin meetups and other cultural events. These events often culminated in the creation NGO-supporting artwork. Ordinals presented a new way forward, but also presented some novel challenges due the large amount of traffic and interest from people who were not familiar with Bitcoin’s conceptual framework. Chapter One: Do Not FiatObserving The Loops. Chapter one, “Do Not Fiat”, focuses on the central aspect of Bitcoin’s existence: the emergence of a better, more inclusive monetary system. The objects zero to six in this chapter were created chronologically from the peaceful beginnings to the cataclysm that will consume all fiat money. This vision will see Bitcoin triumph over everlasting financial oppression, and slavery. This is an everlasting battle that can be seen in a progressive manner, directed towards the present state of our existence with grand but painful goals ahead. Every inscription except “Object 4” has been reclaimed by a new owner through transparent Discord auctions. Community ConsiderationsThe OL holder listing is intended to have an influence on decisions made by OL team members. This will allow for creative activism in a new paradigm that hasn’t been explored through other Ordinal projects and the Bitcoin protocol. Having realized that the artwork in chapter one might not be accessible to all, a solution was proposed in the public discussion around the project. “Object 4” became a first artifact owned and controlled by “SATDAO,” a 21-member OL community holding a single key to multisignature ownership of the given UTXO. Participation in SATDAO is open and subject to change.
Mut.eth auctions “Object 6” for 3.15 BTC
The fight against fiat can only succeed if we strengthen our barricades. OL has funded the Open Sats Legal Defense Fund and Brink, the Bitcoin Policy Institute, and Casey Rodarmor’s 21st OpenDime throughout its chapter one auctions. These activities and current holdings are made transparently in Discord’s Treasury channel, with transaction hashes included. OL has also funded the Open Sats Legal Defense Fund, Brink, the Bitcoin Policy Institute, and Casey Rodarmor’s 21st OpenDime over the period of its chapter one auctions. Digital art can help further this empowering wave and deconstruct current narratives. Chapter Two: Roots of ImmutabilityChapter 2: OL Intersections into the current period. This chapter allows the observer to step back into Bitcoin’s historic blocks. Block 0 is an homage Satoshi Nakamoto, who bridged the fiat battle against “The Times”, calling out the brokenness in the current world order. The “Block O” inscription has been sent directly to the “1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa” genesis address, because we are all Nakamoto.
“Block 1” is a tribute to Hal Finney. It shows the hash of the block that contained his transaction from Nakamoto. This block’s abstract art reflects the impact of ALS, a neurodegenerative condition that adversely affected Finney’s health. The Ordinal auction will distribute 58% of the funds to the ALS Association. This money will be used to further research for Fran Finney, Finney’s spouse. It will be revealed at the NFT Paris event to attract a wider interest in Ordinals.
“Block 2” shows the block height hash of Laszlo Hansyecz’s transaction for pizza. It is our adage that we mine the shift in narratives, Hanyecz being an expert GPU miner. The future of digital art is only the beginning. Bitcoin is freedom. This is a guest post from T. The opinions expressed are not necessarily those of BTC Inc. or Bitcoin Magazine.