Why do fees suddenly spike to like 300 sat/vB for these ordinals things then drop back down right away?
Like specifically why, not just "because degen" - are paying high fees part of the protocol, is it a sudden rush of trading?
Why does the next block become so valuable when they could just wait?
Explain it to me like I pay a monthly fee for a blue check
with no research or knowledge whatsoever ... I think they launch/print a wave of them after building hype in a window of time and that causes the spikes?
#asknostr
I was wondering the same. 🤣🤣 Not the monthly fee for a blue check 🤣🤣🤣 BLAST IT
Not sure why it's always like this but I remember during one fee spike it was because people could register some type of username on a first in basis causing a big spike.
I think for others there is a limited supply where people try to mint fast. 🤷
Supply/demand?
More supply of UTXOs when ordinal activity spikes, meaning miners can be more selective of what from the mempool goes into a block (picking higher fee transactions)? When the flurry of interest dies off there are less large fee transactions and others hold off until things settle? Very similar to a pump and dump scheme?
Just a guess.
sorry for my ignorance, what's a "blue check"?
It’s a ritual from the old country where people paid tribute - with fiat and their personal information - to the tech overlords for the privilege of branding themselves like cattle with a blue checkmark
It's the only thing you see when you get out of the matrix
I love that the best we can get on nostr is a half dozen people guessing, spectating, and assuming what goes on in shitcoin land. Apparently you have 0 shitcoiner followers nostr:nprofile1qqsw9n8heusyq0el9f99tveg7r0rhcu9tznatuekxt764m78ymqu36cpzdmhxue69uhhwmm59e6hg7r09ehkuef0qy2hwumn8ghj7enjv4h8xtn4w3ux7tn0dejj7qg4waehxw309aex2mrp0yh82arcduhx7mn99ueat4s3
Many ordinals are part of coordinated drops or mints. Projects often announce a specific time window where people can inscribe new ordinals for a collection.
I was told, but I never used that stuff.
“…like I pay a monthly fee for a blue check.” 🤣
Half explanation: A complete lack of understanding (or caring) of fee mechanics. They see a fee price, they pay it. It doesn't even occur to them to wait.
