Elon Musk Roasts NFTs on Joe Rogan Podcast, Sending Bitcoin Enthusiasts Into Ecstatic Frenzy

Bitcoin Enthusiasts Delighted as Elon Musk Criticizes NFTs on Joe Rogan Podcast

Elon Musk Takes a Swing at NFTs – Bitcoin Enthusiasts Cheer

Elon Musk, the Tesla chief, X owner, and famous Dogecoin (DOGE) enthusiast, recently unleashed his wit on non-fungible tokens (NFTs), much to the delight of Bitcoin (BTC) enthusiasts.

In a recent appearance on the “Joe Rogan Experience” podcast, Musk hilariously criticized the concept of NFTs that merely serve as URLs to external servers hosting the actual digital assets. According to Musk, this setup puts NFT owners in a vulnerable position, as they risk losing their assets if the hosting company goes bankrupt.

“Now here’s the funny thing,” Musk chuckled. “The NFT is not even on the blockchain—it’s just a URL to the JPEG. You should at least encode the JPEG in the blockchain. If the company housing the image goes out of business, you don’t have the image anymore.”

Check out Musk’s tweet that got Bitcoin lovers buzzing!

• Battle of the Crypto Titans: Bitcoin vs. NFTs
• Mox Capital Splashes $410 Million to Dive Deeper into the Digital Asset Pool
• Dialogue with Variant Fund Co-founder How can the crypto world save traditional social networks?

Musk’s critique taps into a longstanding debate in the NFT community about the authenticity and security of digital art represented by these tokens. While some NFT projects store their assets directly on the Ethereum (ETH) blockchain, others rely on external servers, putting the assets at risk if the server crashes for any reason whatsoever.

Bitcoin Ordinals to the Rescue!

Bitcoin enthusiasts wasted no time in highlighting Bitcoin’s impressive Ordinals protocol in response to Musk’s remarks. This Bitcoin-based system securely inscribes artwork and media directly onto the Bitcoin blockchain, offering a compelling alternative to Ethereum’s NFT model.

What does this mean? Well, as long as the Bitcoin network keeps on truckin’, the NFTs are safe and sound.

One of the Bitcoiners who seized the opportunity to educate Elon Musk on this was the beloved Will Clemente, who declared on X, “You just laid out the case for Bitcoin ordinals!” Here’s his tweet that beautifully makes the point.

Others chimed in too, with a member of the NFT community going above and beyond by inscribing Musk’s podcast video onto the Bitcoin blockchain. Now that’s what we call dedication! Check it out here.

So, while the NFT debate rages on, it seems like Bitcoin’s got some tricks up its sleeve to ensure digital art stays safe and secure. Who knew the world of blockchain could be so exciting?

What are your thoughts on this clash of the digital titans? Share your comments and let the discussion begin!

We will continue to update Blocking; if you have any questions or suggestions, please contact us!