Mar 20, 2023
Nick Hansen is the cofounder and CEO of Luxor, a Bitcoin mining pool. He joins to talk to us about his excitement around ordinals and inscriptions, and how Luxor is thinking about the opportunity.
- The history of ordinals and how Luxor got started in the space
- How Luxor mined the first 4MB block in Bitcoin
- Luxor’s decision to acquire Ordinalhub and their intentions with the project
- Risks Luxor incurred by mining the first 4MB block
- Transaction standardness versus validity
- How ordinals increase the overall quantity of Bitcoin blockspace
- The risks of out of band fees to Bitcoin
- Does Bitcoin already have MEV?
- How does the block reward decay make reorgs more likely?
- Where Luxor sees opportunity in ordinals
- Have inscriptions had a material impact on miner rewards?
- The effect of inscriptions on fees
- Transacting with PSBTs versus standard NFT marketplaces
- Nick’s confidence in the long-term persistence of Bitcoin state
- Why it’s virtually impossible to purge state in Bitcoin
- Are ordinals and inscriptions a violation of the implied Bitcoin social contract?
- Have inscriptions inadvertently ossified Bitcoin at the protocol level?