Also talking about dogs in the cryptocurrency markets, there was a sudden increase to most of the popular memecoins which came from the somewhat successful of it's predecessor dogecoin yesterday of upto 440%.
Noteable of such a pump up in it's price was Shiba Inu.
Before it came crashing down by 50% during Asia trading commenced ahead of America's rally up passing 360% the day prior.
Here is the article from CoinDesk about the coin which stood out from it's counterparts in this 24 hour pump:
"Shiba Inu (SHIB) prices briefly fell 50% on U.S. exchange Coinbase (COIN) in early Asia morning hours on Tuesday before returning to normal in an unusual move.
SHIB slipped from $0.000044 to $0.000022 on Coinbase amid a bitcoin (BTC)-led sell-off among major tokens. Prices fell to an average of $0.000036 on other exchanges, such as Bybit and Kraken, marking the Coinbase drop as an anomaly.
Such drops usually occur when a sell order exceeds the available market depth – or liquidity at any given point on a certain exchange. As of European morning hours, SHIB has a market depth of $1.2 million on Coinbase."
source: https://www.coindesk.com/markets/2024/03/05/shiba-inu-prices-briefly-dropped-50-on-coinbase
Topic: Coinbase on the defensive about these bitcoin ordinal centralized meme coins - page 2. (Read 1863 times)
March 05, 2024, 05:34:16 AM
March 03, 2024, 06:53:31 PM
@Reid
As I see it, better to have an active blockchain than one which is not used and so forth a dead one.
Have seen this happen where there is absolutely no traffic and this would mean the project to be viewed as dead.
Interesting how bitcoindogs would be running an ICO as these would be very much outlawed from what happened during that era with ethereum projects, as you had mentioned.
If they think this would bring more attention to what their offering is, then we will just have to see what transpires from having them run one.
As I see it, better to have an active blockchain than one which is not used and so forth a dead one.
Have seen this happen where there is absolutely no traffic and this would mean the project to be viewed as dead.
Interesting how bitcoindogs would be running an ICO as these would be very much outlawed from what happened during that era with ethereum projects, as you had mentioned.
If they think this would bring more attention to what their offering is, then we will just have to see what transpires from having them run one.
February 27, 2024, 07:35:10 PM
@rdbase You are right, this NFT's and Ordinals are really the beneficiaries of this Bitcoin surge and it's a fact. Altcoins have also experienced it so why not with Ordinals too. I am not a big supporter of such projects because it creates heavy traffic in the blockchain but we cannot deny that they will also be pulled up by the recent market surge of Bitcoin.
Here is some news about another Ordinal.
Bitcoin Dogs set to make history with first ever ICO on Bitcoin blockchain
https://cointelegraph.com/press-releases/bitcoin-dogs-set-to-make-history-with-first-ever-ico-on-bitcoin-blockchain?fbclid=IwAR3T0f_X_zlCTAUaACEuuedDVWZYuu5Am8L33ZAnoal1Sno-9l5wOuw0O28
But an ICO in this era? It could work since maybe investors did miss this kind of projects but there will still be doubts just like how the ICO's in the Ethereum chain was challenged due to the fact that it became a home of scammers.
Here is some news about another Ordinal.
Bitcoin Dogs set to make history with first ever ICO on Bitcoin blockchain
https://cointelegraph.com/press-releases/bitcoin-dogs-set-to-make-history-with-first-ever-ico-on-bitcoin-blockchain?fbclid=IwAR3T0f_X_zlCTAUaACEuuedDVWZYuu5Am8L33ZAnoal1Sno-9l5wOuw0O28
Quote
Bitcoin Dogs is set to be part of cryptocurrency history with the first ever ICO on the Bitcoin blockchain, launching on February 14th, 2024.
An ICO in the Bitcoin blockchain. I am amazed despite being against it. There's so much happening in the Bitcoin market today that most investors would rather just buy Bitcoin and be lazy. But an ICO in this era? It could work since maybe investors did miss this kind of projects but there will still be doubts just like how the ICO's in the Ethereum chain was challenged due to the fact that it became a home of scammers.
February 27, 2024, 09:43:30 AM
Ordinals/NFTs are just a waste of time and space.
Never got into them and never willIf theres anything thats a rugpull scam in this world, its NFT's
Anything to do with cryptocurrency has been pumping along with bitcoin, including NFTs and memecoins.
Just have a look at this post on X which makes sense of the recent increase of the cryptocurrency market:
February 24, 2024, 09:09:21 PM
stop believing the fake market cap and volume numbers
if i shuffled a bunch of bank notes from my own left hand to my own right hand. i can shw that $1m passed between my hands even if there are only $1000 in total
the MEME MARKET IS FAKE. its the creators selling to themselves to fix/rig/fake a price hoping idiots later on buy from them ..
As much as we like to believe that, there's a lot of people that don't believe that and they still think that these meme coins are their way of making something big for themselves, a lot of these people are so ingrained with the FOMO from Dogecoin that they're going to buy all the other meme coins out there in hopes that it's going to be the next Dogecoin without any regard from the fact that it's probably just some small group that are creating these meme coins from time to time to entice those suckers for more of their money, definitely there's a rigging in meme coins but people don't learn or they're ignoring it altogether because they want to believe in the impossible. if i shuffled a bunch of bank notes from my own left hand to my own right hand. i can shw that $1m passed between my hands even if there are only $1000 in total
the MEME MARKET IS FAKE. its the creators selling to themselves to fix/rig/fake a price hoping idiots later on buy from them ..
February 24, 2024, 07:03:28 PM
With the BRC-20 tokens taking up the majority of the block size on transactions sent to the bitcoin blockchain in the past three weeks causing chaos and having users of bitcoin paying enormous fees, one of the first exchanges in the US have had enough.
They sent their customer base newsletter out in an email late yesterday about a certain token known as pepe.
The email entails and describing the Pepe meme as a hate symbol co-opted by alt-right groups has drawn significant ire from the PEPE memecoin community.
source: https://cointelegraph.com/news/coinbase-calls-pepe-a-hate-symbol-prompting-calls-to-boycott-the-exchange
Only 24 hours ago the pepecoin backers with the community on twitter were asking Coinbase to list the BRC-20 token on their exchange with screen captures of the symbol on their own webpage, either real or photoshopped on several of crypto influencers twitter feeds.
But now they are all up in arms against the American exchange with these mass emails being sent out with no hope in sight for their beloved green frogfaced meme which was created back in 2005 and made the rounds on huge online media sites such as reddit and 4chan.
https://www.coindesk.com/business/2023/05/11/coinbase-newsletter-flags-rise-of-pepecoin-and-brc-20-tokens-irks-crypto-twitter
Since then, there was some news about pepe & memecoins topping Coinbase in trading volume just today.
Uniswap Volume Leapfrogs Coinbase Thanks to Pepe and Meme Coins
https://decrypt.co/139594/uniswap-volume-leapfrogs-coinbase-pepe-meme-coins
"Uniswap still looks to be slightly ahead of Coinbase, with $1.2 billion volume compared to the San Francisco-based exchange’s $948 million."
Very interesting how these tokens which have no utility or intrinsic value except to the one's holding it, has up ended the king of all crypto and has caused a flurry of problems for the over 14 year cryptocurrency.
They sent their customer base newsletter out in an email late yesterday about a certain token known as pepe.
The email entails and describing the Pepe meme as a hate symbol co-opted by alt-right groups has drawn significant ire from the PEPE memecoin community.
source: https://cointelegraph.com/news/coinbase-calls-pepe-a-hate-symbol-prompting-calls-to-boycott-the-exchange
Only 24 hours ago the pepecoin backers with the community on twitter were asking Coinbase to list the BRC-20 token on their exchange with screen captures of the symbol on their own webpage, either real or photoshopped on several of crypto influencers twitter feeds.
But now they are all up in arms against the American exchange with these mass emails being sent out with no hope in sight for their beloved green frogfaced meme which was created back in 2005 and made the rounds on huge online media sites such as reddit and 4chan.
https://www.coindesk.com/business/2023/05/11/coinbase-newsletter-flags-rise-of-pepecoin-and-brc-20-tokens-irks-crypto-twitter
Since then, there was some news about pepe & memecoins topping Coinbase in trading volume just today.
Uniswap Volume Leapfrogs Coinbase Thanks to Pepe and Meme Coins
https://decrypt.co/139594/uniswap-volume-leapfrogs-coinbase-pepe-meme-coins
"Uniswap still looks to be slightly ahead of Coinbase, with $1.2 billion volume compared to the San Francisco-based exchange’s $948 million."
Very interesting how these tokens which have no utility or intrinsic value except to the one's holding it, has up ended the king of all crypto and has caused a flurry of problems for the over 14 year cryptocurrency.
Well, honestly speaking, even though there are a lot of haters on Pepe Coin, it is getting even hotter in this field. Actually, there are only two meme coins that I have, and they are Pepe and Shiba Inu. I also think that these two are okay to give me profit.
Especially in the Pepe coin, it will face the bull run that is coming for the first time in reality. No matter what others say that pepe coin is not good, I will still hold for it because many people have been humiliated for saying that pepe coin is not good.
That is a given when it comes to swapping out tokens to another in the transferring of value.
Where it shows is the increase in their own cryptocurrency $UNI going from over $7 to just under $11.96 earlier on the other day/
That is a massive increase of nearly 40%.
Pepe coin forks have surfaced aswell and the one which was created by a major influencer in the space Pauly called $PORK.
Here is the video about it which doesn't seem to do anything just like pepe:
https://www.youtube.com/watch?v=S7jX15b7f9I
February 20, 2024, 10:53:39 PM
With the BRC-20 tokens taking up the majority of the block size on transactions sent to the bitcoin blockchain in the past three weeks causing chaos and having users of bitcoin paying enormous fees, one of the first exchanges in the US have had enough.
They sent their customer base newsletter out in an email late yesterday about a certain token known as pepe.
The email entails and describing the Pepe meme as a hate symbol co-opted by alt-right groups has drawn significant ire from the PEPE memecoin community.
source: https://cointelegraph.com/news/coinbase-calls-pepe-a-hate-symbol-prompting-calls-to-boycott-the-exchange
Only 24 hours ago the pepecoin backers with the community on twitter were asking Coinbase to list the BRC-20 token on their exchange with screen captures of the symbol on their own webpage, either real or photoshopped on several of crypto influencers twitter feeds.
But now they are all up in arms against the American exchange with these mass emails being sent out with no hope in sight for their beloved green frogfaced meme which was created back in 2005 and made the rounds on huge online media sites such as reddit and 4chan.
https://www.coindesk.com/business/2023/05/11/coinbase-newsletter-flags-rise-of-pepecoin-and-brc-20-tokens-irks-crypto-twitter
Since then, there was some news about pepe & memecoins topping Coinbase in trading volume just today.
Uniswap Volume Leapfrogs Coinbase Thanks to Pepe and Meme Coins
https://decrypt.co/139594/uniswap-volume-leapfrogs-coinbase-pepe-meme-coins
"Uniswap still looks to be slightly ahead of Coinbase, with $1.2 billion volume compared to the San Francisco-based exchange’s $948 million."
Very interesting how these tokens which have no utility or intrinsic value except to the one's holding it, has up ended the king of all crypto and has caused a flurry of problems for the over 14 year cryptocurrency.
They sent their customer base newsletter out in an email late yesterday about a certain token known as pepe.
The email entails and describing the Pepe meme as a hate symbol co-opted by alt-right groups has drawn significant ire from the PEPE memecoin community.
source: https://cointelegraph.com/news/coinbase-calls-pepe-a-hate-symbol-prompting-calls-to-boycott-the-exchange
Only 24 hours ago the pepecoin backers with the community on twitter were asking Coinbase to list the BRC-20 token on their exchange with screen captures of the symbol on their own webpage, either real or photoshopped on several of crypto influencers twitter feeds.
But now they are all up in arms against the American exchange with these mass emails being sent out with no hope in sight for their beloved green frogfaced meme which was created back in 2005 and made the rounds on huge online media sites such as reddit and 4chan.
https://www.coindesk.com/business/2023/05/11/coinbase-newsletter-flags-rise-of-pepecoin-and-brc-20-tokens-irks-crypto-twitter
Since then, there was some news about pepe & memecoins topping Coinbase in trading volume just today.
Uniswap Volume Leapfrogs Coinbase Thanks to Pepe and Meme Coins
https://decrypt.co/139594/uniswap-volume-leapfrogs-coinbase-pepe-meme-coins
"Uniswap still looks to be slightly ahead of Coinbase, with $1.2 billion volume compared to the San Francisco-based exchange’s $948 million."
Very interesting how these tokens which have no utility or intrinsic value except to the one's holding it, has up ended the king of all crypto and has caused a flurry of problems for the over 14 year cryptocurrency.
Well, honestly speaking, even though there are a lot of haters on Pepe Coin, it is getting even hotter in this field. Actually, there are only two meme coins that I have, and they are Pepe and Shiba Inu. I also think that these two are okay to give me profit.
Especially in the Pepe coin, it will face the bull run that is coming for the first time in reality. No matter what others say that pepe coin is not good, I will still hold for it because many people have been humiliated for saying that pepe coin is not good.
February 20, 2024, 07:25:29 PM
It seems like more and more tech is going to start taking advantage of the Lightning loophole to offer unique tokens on the Bitcoin blockchain. I was just reading about the "first" ever ICO on the Bitcoin blockchain. Sure, it's probably nonsense or a useless scam, but interesting that people keep building on this tech to offer new products.
Don't go investing in this because it's most likely worthless or a flat out scam, but for those interested in knowing what the heck I'm talking about: https://bitcoindogs.club/ - They seemed to spend a great deal of money on press releases, which is suspect in itself, but shows that people are still trying to build new classes of assets inside our crypto world.
Don't go investing in this because it's most likely worthless or a flat out scam, but for those interested in knowing what the heck I'm talking about: https://bitcoindogs.club/ - They seemed to spend a great deal of money on press releases, which is suspect in itself, but shows that people are still trying to build new classes of assets inside our crypto world.
February 20, 2024, 07:16:38 PM
What I am seeing with the use of ordinals on the blockchain are causing chaos without using a better way to transfer payments via the bitcoin blockchain such as the lightning network.
Something called Quantum Cats created by Taproot Wizards processed millions of payments on the bitcoin blockchain with of course the cost amounting in high fees.
Taproot Wizards reveal Bitcoin's Onchain Payment struggle during multi-million dollar sale
https://news.bitcoin.com/taproot-wizards-reveal-bitcoins-onchain-payment-struggles-during-15m-sale/
Something called Quantum Cats created by Taproot Wizards processed millions of payments on the bitcoin blockchain with of course the cost amounting in high fees.
Taproot Wizards reveal Bitcoin's Onchain Payment struggle during multi-million dollar sale
https://news.bitcoin.com/taproot-wizards-reveal-bitcoins-onchain-payment-struggles-during-15m-sale/
February 08, 2024, 08:32:56 AM
@rohang Don't think it would be actually.
My ideas about the whole craze has shifted since the Ordinals are of course driving up the bitcoin fees for transmitting on the network with excessive congestion but then it does give those gains to the miners for their work.
With the recent outage of the Solana network, it does show to secure the network further the more it is used no matter how it is used.
Bitcoin is the only network which hasn't had a major outage to the point of shutting it completely down like it has to so many other blockchains.
So in my view: "Let Them Cook!"
My ideas about the whole craze has shifted since the Ordinals are of course driving up the bitcoin fees for transmitting on the network with excessive congestion but then it does give those gains to the miners for their work.
With the recent outage of the Solana network, it does show to secure the network further the more it is used no matter how it is used.
Bitcoin is the only network which hasn't had a major outage to the point of shutting it completely down like it has to so many other blockchains.
So in my view: "Let Them Cook!"
January 30, 2024, 10:45:02 AM
@Reid
Not all projects are just rugpulls like these ones which are obvious to the well informed.
Coinbase is looking to list some which are doing well and have been around for several years now. The ones I have been watching are on the very network which I had mentioned earlier last month. And announced today they will be making a listing of them in the future.
This most certainly will increase the popularity of those projects and the pump in price will also follow.
Yeah, I do believe so too. There are good projects out there but let's take into account the percentage of that. I think it's very low. Not all projects are just rugpulls like these ones which are obvious to the well informed.
Coinbase is looking to list some which are doing well and have been around for several years now. The ones I have been watching are on the very network which I had mentioned earlier last month. And announced today they will be making a listing of them in the future.
This most certainly will increase the popularity of those projects and the pump in price will also follow.
And here comes another one.
Bitcoin Ordinals Welcomes Trump with Limited Edition Mugshot NFT Trading Cards
https://www.crypto-news-flash.com/bitcoin-ordinals-welcomes-trump-with-limited-edition-mugshot-nft-trading-cards/
Quote
Donald Trump digital trading cards are coming to Bitcoin Ordinals according to an announcement by CollectTrumpCards on the X platform.
Quote
This development follows previous successful NFT launches by the former U.S. President and is a show of the popularity of the market.
I don't know. I won't buy it. But I guess Donald Trump's followers will not miss this one and I bet that will increase the demand of this certain ordinal. Quote
Announced on the X platform, the team notes that only 200 of these 1/1 Trump Digital Trading Cards MugShot Edition Bitcoin Ordinals will EVER exist in the world.
Oh limited edition. Like Babe Ruth cards. 
A development team who created his Trump coin airdropped $6000 worth of the memecoins at the time and became $1 million worth in the cryptocurrency.
https://en.cryptonomist.ch/2024/01/23/donald-trump-earns-1-million-dollars-with-the-memecoin-that-bears-his-name
Who doesn't think he didn't cash that out and didn't care to dump the price to near zero.
Alot of people made millions and millions from Nft's and these meme coins out of gullible newbies
Do u guys think crypto would be in much better place of nfts were never a thing?
January 23, 2024, 06:25:27 PM
@Reid
Not all projects are just rugpulls like these ones which are obvious to the well informed.
Coinbase is looking to list some which are doing well and have been around for several years now. The ones I have been watching are on the very network which I had mentioned earlier last month. And announced today they will be making a listing of them in the future.
This most certainly will increase the popularity of those projects and the pump in price will also follow.
Yeah, I do believe so too. There are good projects out there but let's take into account the percentage of that. I think it's very low. Not all projects are just rugpulls like these ones which are obvious to the well informed.
Coinbase is looking to list some which are doing well and have been around for several years now. The ones I have been watching are on the very network which I had mentioned earlier last month. And announced today they will be making a listing of them in the future.
This most certainly will increase the popularity of those projects and the pump in price will also follow.
And here comes another one.
Bitcoin Ordinals Welcomes Trump with Limited Edition Mugshot NFT Trading Cards
https://www.crypto-news-flash.com/bitcoin-ordinals-welcomes-trump-with-limited-edition-mugshot-nft-trading-cards/
Quote
Donald Trump digital trading cards are coming to Bitcoin Ordinals according to an announcement by CollectTrumpCards on the X platform.
Quote
This development follows previous successful NFT launches by the former U.S. President and is a show of the popularity of the market.
I don't know. I won't buy it. But I guess Donald Trump's followers will not miss this one and I bet that will increase the demand of this certain ordinal. Quote
Announced on the X platform, the team notes that only 200 of these 1/1 Trump Digital Trading Cards MugShot Edition Bitcoin Ordinals will EVER exist in the world.
Oh limited edition. Like Babe Ruth cards. A development team who created his Trump coin airdropped $6000 worth of the memecoins at the time and became $1 million worth in the cryptocurrency.
https://en.cryptonomist.ch/2024/01/23/donald-trump-earns-1-million-dollars-with-the-memecoin-that-bears-his-name
Who doesn't think he didn't cash that out and didn't care to dump the price to near zero.
January 23, 2024, 06:15:53 AM
Ordinals/NFTs are just a waste of time and space.
Never got into them and never will
If theres anything thats a rugpull scam in this world, its NFT's
January 22, 2024, 03:28:48 PM
Ordinals/NFTs are just a waste of time and space.
January 20, 2024, 03:37:57 AM
@Reid
Not all projects are just rugpulls like these ones which are obvious to the well informed.
Coinbase is looking to list some which are doing well and have been around for several years now. The ones I have been watching are on the very network which I had mentioned earlier last month. And announced today they will be making a listing of them in the future.
This most certainly will increase the popularity of those projects and the pump in price will also follow.
Yeah, I do believe so too. There are good projects out there but let's take into account the percentage of that. I think it's very low. Not all projects are just rugpulls like these ones which are obvious to the well informed.
Coinbase is looking to list some which are doing well and have been around for several years now. The ones I have been watching are on the very network which I had mentioned earlier last month. And announced today they will be making a listing of them in the future.
This most certainly will increase the popularity of those projects and the pump in price will also follow.
And here comes another one.
Bitcoin Ordinals Welcomes Trump with Limited Edition Mugshot NFT Trading Cards
https://www.crypto-news-flash.com/bitcoin-ordinals-welcomes-trump-with-limited-edition-mugshot-nft-trading-cards/
Quote
Donald Trump digital trading cards are coming to Bitcoin Ordinals according to an announcement by CollectTrumpCards on the X platform.
Quote
This development follows previous successful NFT launches by the former U.S. President and is a show of the popularity of the market.
I don't know. I won't buy it. But I guess Donald Trump's followers will not miss this one and I bet that will increase the demand of this certain ordinal. Quote
Announced on the X platform, the team notes that only 200 of these 1/1 Trump Digital Trading Cards MugShot Edition Bitcoin Ordinals will EVER exist in the world.
Oh limited edition. Like Babe Ruth cards. January 04, 2024, 06:50:37 PM
@Reid
Not all projects are just rugpulls like these ones which are obvious to the well informed.
Coinbase is looking to list some which are doing well and have been around for several years now. The ones I have been watching are on the very network which I had mentioned earlier last month. And announced today they will be making a listing of them in the future.
This most certainly will increase the popularity of those projects and the pump in price will also follow.
Not all projects are just rugpulls like these ones which are obvious to the well informed.
Coinbase is looking to list some which are doing well and have been around for several years now. The ones I have been watching are on the very network which I had mentioned earlier last month. And announced today they will be making a listing of them in the future.
This most certainly will increase the popularity of those projects and the pump in price will also follow.
January 02, 2024, 10:37:46 AM
Believe it or not those investors aren't who you would think they are.
In China there are conferences trying to onboard grandmas into this hype of ordinals.
When I first heard about it right before Chirstmas I thought it was a complete and utter joke.
But then these images surfaced showing another thing from those BONK tokens called WHEE:
https://twitter.com/markjeffrey/status/1736671688455254113
You can imagine how much money these elderly have from life savings and those individuals who promise them the world with these how to get rich fast schemes are just wolves in doge's clothing
https://twitter.com/MacnBTC/status/1734963829992288664
The first thing that I noticed is the "Bitcion". Was this spelled right or are they trying to build a hype by spelling it wrong? In China there are conferences trying to onboard grandmas into this hype of ordinals.
When I first heard about it right before Chirstmas I thought it was a complete and utter joke.
But then these images surfaced showing another thing from those BONK tokens called WHEE:
https://twitter.com/markjeffrey/status/1736671688455254113
You can imagine how much money these elderly have from life savings and those individuals who promise them the world with these how to get rich fast schemes are just wolves in doge's clothing
https://twitter.com/MacnBTC/status/1734963829992288664
I read about this BONK thing somewhere in the Altcoin Discussion, I think one forum member made a thread about it.
"Getting dumped by a Chinese Grandma." Hilarious. That will be disrespectful for the traders of this ordinals listed by Binance.
I've just read this recently so I think I gotta share it.
https://news.bitcoin.com/coinbase-2024-outlook-marks-end-of-crypto-winter-ordinals-leading-nft-shift-heralds-era-of-prosperity
Coinbase 2024 Outlook Marks End of Crypto Winter, Ordinals Leading NFT Shift, Heralds Era of Prosperity
Quote
This momentum, the report explains, is expected to carry into 2024, with BTC potentially benefiting from broader economic trends and pressures on traditional financial systems. Additionally, Coinbase touches upon the Ordinals and Atomicals trend alongside Rootstock, Stacks, RGB, and implementations of BitVM. Coinbase also believes that “a large portion of NFT activity has shifted to Bitcoin Ordinals.”
NFT was not a successful project and I think that's the reason why investors will switch to something different but near same the project they supported and those are Ordinals. But I have big doubts that it will be successful just because of that. There's a chance it will end the same way as NFT's. January 02, 2024, 07:06:11 AM
@rdbase About the network congestion and high transaction fees. It actually divided Bitcoin supporters because there are still investors who would like to keep Bitcoin blockchain clean and I am actually one who supports that idea.
It sucks when you are a Bitcoin user, what more without those merchandise are being transacted with the use of Bitcoin? How about El Salvador? It will be difficult to say Bitcoin is really a currency if these things are happening. It will be kept as an asset like gold which I don't think is a good thing.
About those fees, here is the recent experiment of the article I bumped into and they are also blaming it to the ordinals which I believe is a fact.
https://decrypt.co/210168/bitcoin-fees-continue-to-surge-thanks-to-ordinal-mania
It's too high and it's an eyesore to see this kind of expensive fees.
Believe it or not those investors aren't who you would think they are.It sucks when you are a Bitcoin user, what more without those merchandise are being transacted with the use of Bitcoin? How about El Salvador? It will be difficult to say Bitcoin is really a currency if these things are happening. It will be kept as an asset like gold which I don't think is a good thing.
About those fees, here is the recent experiment of the article I bumped into and they are also blaming it to the ordinals which I believe is a fact.
https://decrypt.co/210168/bitcoin-fees-continue-to-surge-thanks-to-ordinal-mania
Quote
Case in point: Decrypt tried to make a transaction using a mobile wallet, but the fee would’ve been 42% of the amount of BTC selected to send.
Quote
Bitinfocharts data shows that it today costs on average $37.58 to make a transaction. The last time it was that high was back in April 2021. Fees have been exploding since May this year ever since interest in Ordinals took off. At one point they reached $31.14 per transaction.
It's too high and it's an eyesore to see this kind of expensive fees.
In China there are conferences trying to onboard grandmas into this hype of ordinals.
When I first heard about it right before Chirstmas I thought it was a complete and utter joke.
But then these images surfaced showing another thing from those BONK tokens called WHEE:
https://twitter.com/markjeffrey/status/1736671688455254113
You can imagine how much money these elderly have from life savings and those individuals who promise them the world with these how to get rich fast schemes are just wolves in doge's clothing
https://twitter.com/MacnBTC/status/1734963829992288664
December 28, 2023, 07:46:04 AM
@rdbase About the network congestion and high transaction fees. It actually divided Bitcoin supporters because there are still investors who would like to keep Bitcoin blockchain clean and I am actually one who supports that idea.
It sucks when you are a Bitcoin user, what more without those merchandise are being transacted with the use of Bitcoin? How about El Salvador? It will be difficult to say Bitcoin is really a currency if these things are happening. It will be kept as an asset like gold which I don't think is a good thing.
About those fees, here is the recent experiment of the article I bumped into and they are also blaming it to the ordinals which I believe is a fact.
https://decrypt.co/210168/bitcoin-fees-continue-to-surge-thanks-to-ordinal-mania
It's too high and it's an eyesore to see this kind of expensive fees.
It sucks when you are a Bitcoin user, what more without those merchandise are being transacted with the use of Bitcoin? How about El Salvador? It will be difficult to say Bitcoin is really a currency if these things are happening. It will be kept as an asset like gold which I don't think is a good thing.
About those fees, here is the recent experiment of the article I bumped into and they are also blaming it to the ordinals which I believe is a fact.
https://decrypt.co/210168/bitcoin-fees-continue-to-surge-thanks-to-ordinal-mania
Quote
Case in point: Decrypt tried to make a transaction using a mobile wallet, but the fee would’ve been 42% of the amount of BTC selected to send.
Quote
Bitinfocharts data shows that it today costs on average $37.58 to make a transaction. The last time it was that high was back in April 2021. Fees have been exploding since May this year ever since interest in Ordinals took off. At one point they reached $31.14 per transaction.
It's too high and it's an eyesore to see this kind of expensive fees.
December 26, 2023, 06:21:33 PM
Phantom adds support for Bitcoin, Ordinals and BRC-20 tokens
It is a smart decision from Phantom wallet team because this adoption for BRC20 tokens that are on fire, will help the wallet becomes more famous and can help it to get new users.Quote
Phantom, originally a Solana wallet created by Ethereum developers, announced users can now trade and transfer bitcoin, Ordinals, and BRC-20 tokens.
I don't know if this is good news or not because somehow it invites more investors to buy Ordinals even the stupidest ones. Quote
The wallet's new optionality is "currently in beta so it’s 100% opt-in," Phantom said in a post to X. "Without Bitcoin BTC +3.06%
, there’d be no Solana, Ethereum, or web3. And for that, we’re forever grateful for Bitcoin and thrilled to launch it (in ₿eta) on Phantom," it also said.
Phantom, known for being a Solana wallet, took its first steps toward becoming multichain when it added support for the Ethereum and Polygon blockchains. "We believe that the future of digital asset management lies in cross-chain interoperability," Brandon Millman, co-founder and CEO of Phantom, said at the time.
https://www.theblock.co/post/268707/phantom-adds-support-for-bitcoin-ordinals-and-brc-20-tokens, there’d be no Solana, Ethereum, or web3. And for that, we’re forever grateful for Bitcoin and thrilled to launch it (in ₿eta) on Phantom," it also said.
Phantom, known for being a Solana wallet, took its first steps toward becoming multichain when it added support for the Ethereum and Polygon blockchains. "We believe that the future of digital asset management lies in cross-chain interoperability," Brandon Millman, co-founder and CEO of Phantom, said at the time.
I am curious that what will benefit Phantom wallet more. According to their Terms, they can charge fees on some services. I am not sure about the wallet because I never used it but a quick search shows, they are a multi-chain wallet so it is not technical problem for them to accept BRC20 tokens.
For users, who use Phantom wallet to mint and store BRC20 tokens, they will pay service fee to Phantom team but it is not a risk. The risk is how many BRC20 tokens can survive when the hype gone?
I hope those greed people actually did some research about deaths of altcoins and altcoin NFTs in the last bull run to two latest bearish years.
Have these networks such as ethereum/solana do these smart contracts and devving into web3 things such as NFT/Ordinals and leave the bitcoin network be a store of value for what it was intended to do.
With what has happened recently with network congestion cause the higher than usual sender's fee to transfer, this just shows bitcoin and it's blockchain was not meant for doing this sort of thing.
It is just not an efficient way to be using the network if it can be more effective to use those other blockchains instead.
Jump to: