Cryptocurrency influencer Ben Armstrong, popularly known as BitBoy in virtual communities, recently found himself behind bars following a live-stream from an unusual location.
Armstrong initiated a live-stream outside the residence of Carlos Diaz, his former business associate, and early into the broadcast alleged that Diaz had connections to the Houston mafia, and a desire to kill him. All this chaos was apparently over the possession of Armstrong’s Lamborghini. Armstrong’s arrest occurred moments away from the 19-minute mark of his live-stream, with local police intervening to investigate his alleged threats.
Beyond viral live streams, BitBoy’s story turns towards the nitty-gritty of corporate drama. In late August, the HIT Network, which managed the “BitBoy Crypto” brand, abruptly severed ties with Armstrong, citing struggles with substance abuse and resultant financial damage to the company’s workforce.
Since then, various parties involved have traded lawsuits, some have been withdrawn while others persist. Armstrong, undeniably a divisive figure, even asked for donations from his followers on September 20 to help cover his legal costs. This request was met with an unexpected backlash from the rank and file of the crypto community.
In an interesting – and confusing – twist, around the same time of Armstrong’s arrest and the legal influx, an anonymous developer by the name of Domo launched BRC-20 tokens over the Bitcoin Ordinals protocol. BRC-20 enables the minting and transfer of fungible tokens – a type of asset that is interchangeable with other individual assets of the same type. However, BitCoin Ordinals inventor Casey Rodarmor argues that this development contributes to ‘junk’ UTXOs (Unspent Transaction Outputs).
Rodarmor suggests ‘Runes’, a UTXO-based alternative, stating, “Protocols that are UTXO-based fit more naturally into Bitcoin and promote UTXO set minimization by avoiding the creation of “junk” UTXOs.” He believes that despite the majority of fungible tokens being full of scams and memes, the right protocol can add value to the Bitcoin network.
During this period of uncertainty, from Armstrong’s unusual antics to the stir caused by BRC-20 tokens, crypto enthusiasts find themselves navigating a chaotic situation. As this saga unfolds, the undercurrent tension of adopted protocols for Bitcoin and the nature of asset trading lingers, leaving us pondering the future of the crypto world.
Source: Cointelegraph
