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Home BREAKING NEWS

Jack Dorsey’s Ocean Mining Shakes Up Bitcoin With Ordinals Censorship

by BlockNews.com Team
December 6, 2023
in BREAKING NEWS, BUSINESS, CRYPTO
Reading Time: 3 mins read
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  • Ocean Mining, a new decentralized mining pool, announced it will censor Ordinals inscriptions on the Bitcoin blockchain, calling it blockchain spam. This has sparked backlash among some in the crypto community.
  • The debate over Ordinals reflects ongoing tensions around Bitcoin’s scaling capabilities and roadmap. Ordinals allow extra data storage through BRC-20 tokens, which some see as innovative but others view as bloat.
  • With a major mining pool committing to censor Ordinals data, the controversy continues across social media. The stances other miners take will likely determine the future role of Ordinals on Bitcoin.

The debate over Ordinals on the Bitcoin blockchain has flared up again after a major mining pool said it would censor the arbitrary data. Ordinals allow extra information to be stored on Bitcoin’s blockchain through the use of BRC-20 tokens. This has proven controversial, with advocates viewing it as an innovative use of Bitcoin’s capabilities and critics seeing it as blockchain spam. The latest company to weigh in is Ocean Mining, a new decentralized mining pool backed by Jack Dorsey.

🚨 NEWS: Ocean Mining, a new venture by Jack Dorsey, is set to censor #Bitcoin Ordinals.

The community is divided, with some supporting the decision for security reasons.

Others oppose it for undermining Bitcoin's foundational principles.

What do you think?

— BlockNews.com (@blocknewsdotcom) December 6, 2023

Ocean Mining Confirms It Will Censor Ordinal Inscriptions

On December 5th, Ocean Mining announced via its official Twitter account that it would be upgrading its mining software to censor Ordinals inscriptions. The company claimed its upgraded software “fixes this long-standing vulnerability exploited by modern spammers.” Ocean’s co-founder, Luke Dashjr, previously referred to Ordinals as “exploiting a vulnerability” in Bitcoin Core.

The Reaction from the Broader Crypto Community

Ocean Mining’s announcement was met with swift backlash on crypto Twitter. Bitcoin educator Dan Held responded that “censorship is what makes Bitcoin great!” while investor Nic Carter said he’s “never seen a business launched in a competitive space that explicitly aims to earn less revenue than its peers.”

Meanwhile, the largest Ordinals token, ORDI, initially dropped 10% on Ocean’s statement but has since rebounded to new all-time highs. Most other major BRC-20 tokens remain bullish as well.

The Controversy Reflects Bitcoin’s Ongoing Scaling Debate

The Ordinals debate ties into Bitcoin’s ongoing scaling challenges. With transactions fees skyrocketing and the mempool congested, questions around Bitcoin’s technical roadmap continue to cause clashes within the community. Proponents argue Ordinals showcase the potential for Bitcoin to store arbitrary data, while critics see it as blockchain bloat exacerbating scaling issues.

Conclusion

The clash over Ordinals on Bitcoin’s blockchain reveals the tensions between different visions for Bitcoin’s future. With a major mining pool now committing to censor Ordinals data, it seems likely the debate will continue to play out across social media and the ecosystem. The stances miners ultimately take on Ordinals will prove decisive in determining the protocol’s role on Bitcoin going forward.

Tags: BitcoinBlockchainBusinesscryptoWeb3
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