Make Bitcoin Fun Again with Ordinal Honey Badgers & AKVA

[00:00:51] Introduction

• Jonas introduces AKVA the founder of a new new NFT project called Ordinals Honey Badgers, featuring pixelated Honey Badgers on-chain stored on the Bitcoin Blockchain
• The Honey Badger is seen as the perfect spirit animal for Bitcoin enthusiasts as they are fearless, resourceful, and resilient.

[00:03:20] Introduction - Ordinal Honey Badgers

• AKVA discusses his background in the Stacks ecosystem, an L2 built on top of the Bitcoin blockchain that brings smart contracts to Bitcoin.
• Stacks is a place for Bitcoiners to try new things, not just for maximalists.

[00:04:25] Ordinal Theory - Making Satoshis non-fungible

• AKVA explains the Ordinal theory, which allows tracking of specific Satoshis from their creation, making them non-fungible.
• Inscriptions involve inscribing something on top of a Satoshi, which can then be transferred or sold, giving it subjective value.

[00:07:18] First were copycats, then came the originals

• Initially, many projects were copy-pasting from other chains to Bitcoin, which AKVA found disappointing.
• AKVA wanted a Bitcoin-native, fun, and affordable project, so he reached out to his friend, Desenhista.

[00:09:03] Nothing can stop Honey Badgers - Nothing can stop Bitcoin

• They decided on the Honey Badger as their subject, representing the Bitcoin meme of the most fearless animal.
• The project went from idea to reality in just five days.
• The Honey Badger is seen as the perfect spirit animal for Bitcoin enthusiasts as they are fearless, resourceful, and resilient.

[00:10:11] From idea to reality in only five days

• The Discord server and community were created, and suggestions from community members were incorporated into the NFT traits.
• The project's goal was to experiment and make the collection affordable for everyone, with each piece priced at 69,420 Satoshis (around $15-17).

[00:11:43] AKVA background

• AKVA is from Porto Alegre, Brazil.
• The city has a growing crypto scene and has made Bitcoin Pizza Day an official event on the city calendar.

[00:13:31] Why do Bitcoin maxis hate Ordinals?

• Bitcoin maximalists (maxis) believe only in Bitcoin and reject innovations like NFTs and other cryptocurrencies.
• Open-minded Bitcoiners are interested in exploring other possibilities, like smart contracts and NFTs on Bitcoin.
• AKVA believes that Bitcoin can do more than just serve as a currency and prefers it over Ethereum due to its decentralization and libertarian values.

[00:18:13] Does Ordinals have a future?

• AKVA thinks Ordinals has both hype and potential for long-term success.
• Inscriptions on Bitcoin are affordable and 100% on-chain, compared to Ethereum NFTs which often rely on off-chain storage.
• The technology for Ordinals is rapidly developing, making it more accessible and user-friendly.
• AKVA believes Bitcoin collectibles will be valuable due to their safety and provenance.

[00:23:36] Cheap data inscription on Bitcoin

• The cost of inscribing data on Bitcoin is cheaper than Ethereum because fewer people were using it.
• Increased usage and fees are good for the long-term health of Bitcoin and paying miners.
• AKVA argues that the Lightning Network allows for cheap transactions on Bitcoin, making room for other uses like inscriptions.

[00:26:09] Arguments of Bitcoin maxis against Ordinals

• Maxis argue that using block space for inscriptions is not ideal and makes transactions more expensive.
• AKVA believes this is an ideological argument as the Lightning Network provides a solution for cheap transactions.

[00:29:17] Lightning Network

• Layer on top of Bitcoin allowing cheap transactions.
• Hasn't been adopted widely yet.
• AKVA believes Ordinals will bring attention back to Bitcoin and help drive the adoption of Lightning Network.

[00:32:41] Ordinals and Stacks

• Ordinals have brought attention back to Bitcoin, prompting discussions about Stacks as a layer two solution.
• Stacks' value has increased due to the growing interest in Bitcoin and inscriptions.

[00:33:17] Ordinals

• Jonas bought 102 Honey Badgers and wonders who the biggest holder is. AKVA says someone bought 200 Honey Badgers and discusses the plan for the collection. They initially aimed for a 10k collection on Bitcoin but didn't know the demand.
• AKVA has sold 3000 of 10000 badgers so far and plans to discuss the next steps with the community. Options include airdrops, keeping the mint open, or waiting for people to buy. AKVA wants the community to have a voice in the decision.
• Jonas suggests continuing to sell until there are 10,000 people because the project is still in the early stages. He believes that more people will become interested in the project, and 10,000 seems like a good number for a community size.
• AKVA is proud of the community and the fact that many people had their first experience with Ordinals through the Badger project. He is happy that people are enjoying the project for its fun, art, and community support.
• The project is not about pumping and dumping; it's about creativity and enjoyment. The community has grown to include people from various ecosystems and countries, including a sizable Chinese community.
• Jonas thinks the project has potential to be successful, but only time will tell. He acknowledges that speculation is part of the NFT game but appreciates the quality of the project.
• AKVA encourages people to check out the project on Discord and Twitter (@HoneyBadgersBTC). He invites people to explore the Bitcoin ecosystem and join the Honey Badgers community.