So difficulty is going up, but in what relationship to these mining rewards? Are miners making bank off all these ordinal/BRC-20 shenanigans?

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yes, yes they are.

Who told you difficulty is going up?

Nobody, just looking at the mempool and it looks like difficulty/hashrate is increasing. But genuinely curious.

Difficulty is not going up. But yes, miners make tons of btc in fees πŸ’ͺπŸ€™

It’s not? Honest question, I’m curious.

If you mean in general, yes it does grow almost exponentially (along with the hashrate), on the scale of decades. If you mean whether the ordinals shitcoin hype contributes to that growth, I would say not yet. This is yet to be revealed, but my guess is it will certainly.

In fact, the previous difficulty adjustment was a reduction. The next one is going to be a reduction as well.

Right on. This makes sense. πŸ€™

High transaction fees on the base chain is crazy bullish for miners and very bullish for lightning and fedi

this

Indeed. Interesting to think about the mining space going into the halvening with rising block rewards.