"99.99% of Projects at Consensus Are Bullsh*t" Says Ordinals Founder at ...

[ABCbits]

"99.99% of Projects at Consensus Are Bullsh*t" Says Ordinals Founder at Consensus

Ordinals founder Casey Rodarmor has taken a swing at projects showcased at Consensus during his appearance at the conference.

The annual Texas event, backed by CoinDesk, was held between May 29 and May 31. Attracting over 15,000 attendees and 6,800 companies from more than 100 countries, Consensus is touted as "the world's most influential crypto event."

Speaking on the final day of the conference, Rodarmor appeared on a panel titled "From Ordinals to Runes: Checking in With Bitcoin’s Most Controversial Developer" as well as participating in a Speaker AMA... Read more here.


While it's obvious to many of us, it's rather bold since he said that as "Consensus" conference. Although it's a bit ironic when his creation (Ordinals and Runes) also mostly used to create similar bullsh*t. Your opinion is greatly appreciated.

[God Of Thunder]

While it's obvious to many of us, it's rather bold since he said that as "Consensus" conference. Although it's a bit ironic when his creation (Ordinals and Runes) also mostly used to create similar bullsh*t. Your opinion is greatly appreciated.

Haha. I wasn't there to tell him anything. Even though I do not understand well how these runes and ordinals work, I understand that this development created a mess in the Bitcoin community and the network. While he is saying that 99.99% of projects are bullshit, I want to mention his projects as which is pure bullshit. I know a lot of people will defend him because they were able to make some money because of his development. I don't have technical knowledge, which is why I cannot tell much more.

[Baofeng]

Yep, I agree, it is somewhat ironic to call most of the projects as bullsh*t when his Ordinals did a lot of damage on the Bitcoin network and where are most of the ordinals now?

For sure they have died already and there are no hype as it was pass into Runes. But then again, it's cycle, last month or at least in April it was the "hype" but now it also has died down a bit and no one is talking about it.

So I must say that he is a hypocrite and for sure no one in the conference has taken him seriously with this kind of statement.

[Captain Corporate]

I haven't been at consensus, so I am not going to be able to validate or reject his claim that almost all of them are bullshit or not. However, coming from the guy who founded ordinals, its quite rich to say that others are bullshit when only thing you have ever manage to do in your life is ruining the entire bitcoin blockchain ecosystem just for your own gain. I mean this is literally the guy that causes millions of people everyday paying excessive amount of transaction fee for their bitcoin moves, just because he wanted to get a little bit rich. If he wants to see some bullshit, all he has to do is look in the mirror every morning.

[Zed0X]

Aside from being an ironic statement, I feel like he intentionally said that to bait us talk about him and his developed/founded projects. Will there be negative consequences from doing that? I don't know but I guess he succeeded in his mission somehow.

[TomPluz]

While it's obvious to many of us, it's rather bold since he said that as "Consensus" conference. Although it's a bit ironic when his creation (Ordinals and Runes) also mostly used to create similar bullsh*t. Your opinion is greatly appreciated.

This is a very ironic kind of thing but it is time we should be honest with things in the field of Bitcoin and cryptocurrency as a whole. Not using the word "scam" but preferring to describe the many projects attending that Consensus event o be bullshit, I think it is fair to say that to some degree Casey Rodarmor is telling us the truth. The only lingering question in my mind is that I think he is also considered to be part and parcel of that bullshit he is talking about. Now, we also have to understand that eventually new projects will die - or a big majority of them will just fade away due to some known factors and I think this is also true with any other thriving industries as only the fit and the smart can survive. The only obvious problem is that when a project will slowly die so does the dreams and aspirations of their financial supporters...in other words they lose money.

[NotATether]

If the pot ever calls the kettle black...

...then you know that your consensus has an issue.

[hugeblack]

So, out of a total of about 2.4 million cryptocurrencies, 99.99% means that there are 240 good currencies. If we drop the same percentage at the conference, this means that there may be two or three projects that deserve attention, which is a good thing.
In fact, if I asked you to mention the names of 40 cryptocurrencies, you would rarely find anyone who remembers 10. Therefore, I do not think that there is real development in the cryptocurrencies market, as the number is very limited.

[ABCbits]

I haven't been at consensus, so I am not going to be able to validate or reject his claim that almost all of them are bullshit or not.

And you don't have to. You could check https://consensus2024.coindesk.com/agenda/ or CoinDesk website on category "Consensus 2024". I wouldn't say 99.9%, but i feel majority of them are bullsh*t.

Aside from being an ironic statement, I feel like he intentionally said that to bait us talk about him and his developed/founded projects. Will there be negative consequences from doing that? I don't know but I guess he succeeded in his mission somehow.

I don't think it's a bait when he invited to "Consensus" conference where the conference already state he's one of most controversial developer. I also don't expect there would be negative consequences that either he or us will notice.

[Lucius]

I agree with him - but his projects should be at the top of that list considering the chaos they've caused on the blockchain and then dropped to the bottom of the dustbin as we await another in a series of projects from the same developer. It's hard for me to understand how people who are unsuccessful in their work can teach others lessons and I guess get paid for it

[yhiaali3]

Yes, we all know that, but few have the audacity to say such words publicly at a large cryptocurrency conference that includes the most important representatives of companies and big personalities in crypto.

I completely agree that Ordinals and Runes are nonsense and have caused nothing but problems since their appearance. What is the real value of these projects? Nothing at all just empty, worthless graphics or games that cause a lot of congestion and high fees on the network.

The only benefit was for the miners who were very happy due to the higher fees especially after the mining rewards were halved.

[robelneo]

He just wants to shill all his projects at the expense of the competitor, his ordinals created a big mess in the blockchain resulting in exorbitant fees, and the only reason why people support him is the profit they are going to make from all his projects.
Soon investors will realize that all his projects are more Bullsh*t than what he called on other projects, investors are like this, they go where the money is.

[NotATether]

The only benefit was for the miners who were very happy due to the higher fees especially after the mining rewards were halved.

Let's not forget though that up to now, we have not done anything to solve the profitability problem for miners (the so-called trilemma) so now the miners will pretty much resort to anything that will help them survive, basically. So I can't really blame the miners at this point.

I don't feel sorry for the Ordinals and Runes people at all, though. This is a high-risk territory they are entering. As not only can the price change but they are also at the mercy of BTC devs. So whatever happens to the tokens is at their own risk.

[Lucius]

~snip~
I don't feel sorry for the Ordinals and Runes people at all, though. This is a high-risk territory they are entering. As not only can the price change but they are also at the mercy of BTC devs. So whatever happens to the tokens is at their own risk.

Theoretically yes, but the developers haven't done anything so far (right?), so it's very likely that they won't do anything either. I don't know if they thought that the whole thing would fall apart relatively quickly, or if there is still a majority among them who have the opinion that any reaction on their part could be interpreted as censorship.

Be that as it may, I do not believe that people will give up such projects in the near future - because it has obviously become completely irrelevant whether a project will last 2 months or 2 years if it can be profited from it.

[Stompix]

So, out of a total of about 2.4 million cryptocurrencies, .

Please tell me this is just an example and we're not actually there...
Forget this 99.99%, with those numbers we have a coin for every town in the world and one coin for every 100 active businesses in the whole world! It's clear we need to have each one of us our personal coin and our own decentralized platform for swapping coins with others, 7 billion coins, with each one of us printing how much he wants of his, completely governing it, achieving true decentralization and chaos!

And you don't have to. You could check https://consensus2024.coindesk.com/agenda/ or CoinDesk website on category "Consensus 2024". I wouldn't say 99.9%, but i feel majority of them are bullsh*t.

I wonder how many of those sponsors will be bankrupt by 2025  , I can still recall perfectly that huge FTX sing on the Miami Arena..