In a major twist in the digital-assets world, Bitcoin has added nonfungible tokens (NFTs) to its blockchain. The new protocol that makes them is called “Ordinals.” And just like anything in crypto, fierce debate has ensued about this on social media.

Bitcoin NFT proponents call the move a game-changer. Naysayers worry about potential pitfalls of Bitcoin NFTs — like rising transaction costs and environmental concerns. Higher fees could push Bitcoin away from its primary use as a decentralized currency. Plus, some hard-core Bitcoiners are also concerned that these NFTs could  clog up the blockchain. 

Bloomberg reporters Emily Nicolle & David Pan join this episode and consider how the integration of NFTs impacts the network, Bitcoin and the broader crypto ecosystem.

Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter

In a major twist in the digital-assets world, Bitcoin has added nonfungible tokens (NFTs) to its blockchain. The new protocol that makes them is called “<a href="bbg://news/stories/RPGUIFT0AFB4" data-web-url="https://www.bloomberg.com/news/articles/2023-02-19/what-are-ordinals-and-can-donald-trump-nfts-boost-bitcoin-btc-blockchain" data-cke-saved-href="bbg://news/stories/RPGUIFT0AFB4">Ordinals</a>.” And just like anything in crypto, fierce debate has ensued about this on social media.
Bitcoin NFT proponents call the move a game-changer. Naysayers worry about potential pitfalls of Bitcoin NFTs — like rising transaction costs and environmental concerns. Higher fees could push Bitcoin away from its primary use as a decentralized currency. Plus, some hard-core Bitcoiners are also concerned that these NFTs could <a href="bbg://news/stories/RPGUIFT0AFB4" data-web-url="https://www.bloomberg.com/news/articles/2023-02-19/what-are-ordinals-and-can-donald-trump-nfts-boost-bitcoin-btc-blockchain" data-cke-saved-href="bbg://news/stories/RPGUIFT0AFB4"> clog up</a> the blockchain. 
Bloomberg reporters <a href="mailto:enicolle@bloomberg.net" data-cke-saved-href="mailto:enicolle@bloomberg.net">Emily Nicolle</a> &amp; <a href="mailto:jpan206@bloomberg.net" data-cke-saved-href="mailto:jpan206@bloomberg.net">David Pan</a> join this episode and consider how the integration of NFTs impacts the network, Bitcoin and the broader crypto ecosystem.
Subscribe to the Bloomberg Crypto Newsletter at <a href="https://bloom.bg/cryptonewsletter" data-cke-saved-href="https://bloom.bg/cryptonewsletter">https://bloom.bg/cryptonewsletter</a>

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

Bloomberg Crypto

Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. Bloomberg journalists will help cut through all the noise and provide clarity, context and authority.

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. Bloomberg journalists will help cut through all the noise and provide clarity, context and authority. In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

What are Bitcoin NFTs?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/3b353942-0227-4593-ac59-afb301755c72/transcript

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