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Casey Rodarmor, the creator of the controversial Ordinals and Runes protocols in Bitcoin, recently spoke about his motivations and the impact of his work on the Bitcoin network at Consensus 2024 in Austin, Texas.
Rodarmor says the goal of his work with Ordinals and Runes is to ensure that Bitcoin remains secure and that its applications remain secure, allowing people to transact and use the network as they see fit, outside of state authority and censorship.
“I think the only interesting thing about any type of blockchain is the extent to which it can help the government,” Rodarmor said.
Rodarmor's protocols have faced both enthusiasm and criticism from the Bitcoin community. Ordinals allow the creation of trackable satoshis similar to non-fungible tokens (NFTs) on the Bitcoin blockchain, while Runes, launched to coincide with the Bitcoin halving event on April 19, 2024, allow the creation of tradable assets similar to tokens on Ethereum. .
Despite the controversy, Rodarmor maintains that his work is proof of the permissionless nature of Bitcoin, demonstrating that it is possible to build applications on the network that are as resistant to censorship as Bitcoin transactions themselves.
He acknowledged that while Runes may be less important than Bitcoin itself, it provides a “niche, fun, degenerate thing” that cryptocurrency traders seem to want, while also contributing to Bitcoin's fee economics. Rodarmor also addressed Bitcoin's “anarchic” governance structure, describing it as “dysfunctional” but probably the best form of governance for the network.
He notes that the lack of formal governance makes some people uncomfortable, but it is this same lack of centralized control that allows the development of protocols like Ordinals and Runes, which otherwise would not have been allowed.
“What makes people uncomfortable about Bitcoin governance is that there is no formal governance (…) we actually want it to be an anarchic and messy process,” Rodarmor said.
The historic halving event in April 2024 saw the highest fees ever paid for a block of Bitcoin, at more than $2.4 million in BTC. Although transaction fees have since normalized, they remain higher than the sub-dollar prices seen throughout much of 2022 and 2023.
Rodarmor believes his work contributes to the security and robustness of the Bitcoin network by attracting users and generating transaction fees, which will become increasingly important as the mining subsidy decreases over time.
Despite criticism from some prominent figures in the Bitcoin community, including lead Bitcoin developer Luke Dashjr, Rodarmor remains committed to his work as a self-described “enthusiast” developing these protocols without grants or funding. He believes his projects give people a preview of the fate of Bitcoin and the potential for a sustainable fee economy.
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