Did ordinal inscriptions increase the miners’ revenue from fees?

Well, not directly. According to Luxor CEO @hash_bender, the inscriptions only helped in cases where they paid high fees to get into the next few blocks. The ones that pay the mininum fee and wait in the mempool for weeks don’t make much of a difference.

However, ordinal inscriptions do make a difference in terms of increasing the base fee. Other participants must compete to get their transaction mined, so they pay more money for it – and therefore increase the miners’ revenue.

Learn more about it by listening to S13 E7 of the Bitcoin Takeover podcast - now available on Spotify, Apple Podcasts & YouTube 🔥

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