tldr; front runners are "right-clicking" unconfirmed dickbutt jpegs in the mempool, paying a higher fee to get them in the blockchain, and then dumping them on ordtard retail.
After the shut down of the #Sophon bot that was sniping #BRC-20 minting and killing new issuance for a month, the token trading came back with a vengeance, but some genius has built a new sniping bot that is absolutely taking ordinal traders to town and I love it
I am so here for it, lets see if #MEV gets these token trading off Bitcoin and to move to a side chain or an L2
https://protos.com/how-a-quant-sniped-millions-from-bitcoin-ordinals/
Discussion
Lol rek them all, you wanted to support miners and the security budget, this is the price you have to pay
It is both sad and efficient.
Sad, because shitcoin grabassery has come to Bitcoin. Low-information gambling addicts and get-rich-quickers used to play in the shitcoin pigpen, so it was easy to differentiate Bitcoin and shitcoins. Shitcoins are what your midwit coworker used to talk about incessantly until one day he suddenly changes the subject and is bringing bagged lunches.
Efficient, because I don't even have to travel outside my bubble to point and laugh at dumb crypto things.