Subnostr

anything is possible... even self-pay)))

The economy of the BRC20 token on the bitcoin blockchain soared 192% to $279 million in just four days

Four days ago, the market capitalization of all BRC20 tokens built on top of the Bitcoin network was a modest $95 million. In the last four days, however, the capitalization of tokens on BRC20 has seen a huge increase, rising 192% to $279 million.

Over 13,000 BRC20 tokens created on the Bitcoin blockchain are now worth $279 million. The BRC20 token standard, which is built on top of the Bitcoin network, is gaining momentum, and the BRC20 token economy is booming. Four days ago, the market capitalization of the BRC20 token was $95 million and there were about 10,487 BRC20 tokens.

The top ten most valuable BRC20 tokens today include ordi, pepe, piza, meme, moon, punk, domo, oshi, xing and shib. Ordi is currently the most valuable BRC20 coin, with one ordi token selling for $9.46. With a market valuation of $200 million, ordi dominates the entire market capitalization of BRC20 tokens by more than 71%.

Pepe, another BRC20 coin (not to be confused with the ERC20 meme coin of the same name), has a market capitalization of about $17.6 million. The top five BRC20 tokens, which include ordi, pepe, piza, meme and moon, account for 86.55% of the total $279.07M. Not only is Ordi the top BRC20 coin by market capitalization, but it trades at $3.1 million in 24 hours of trading.

As of May 7, 2023, Dune Analytics recorded 3.11 million BRC20 transactions. Bitcoin miners have earned 214 bitcoins (BTC), equivalent to $6.2 million, in the BRC20 ecosystem. While the creators of these tokens have implemented various restrictions on issuance, data from brc-20.io shows that of the top 118 BRC20 tokens by market capitalization, 80 of them chose the maximum supply of 21 million.

There is no limit to idiocy and greed in the crypto world. Those who create these shytokines on the bitcoin blockchain can be understood. They just want your money.

But those who buy this crap in the hope that it is the world's most reliable bitcoin blockchain and is supposedly better than any other ERC20 or BSC shiatcoin can't be understood. This stinking parasitic phenomenon is hurting the crypto-economy more than dozens of other worthless blockchain projects.

As a result, in just under two weeks, the number of unconfirmed transactions on the Bitcoin network skyrocketed from 134,000 to more than 390,000, causing the bitcoin blockchain mempool queue to grow. In turn, this spike in unconfirmed transactions led to a staggering 343% increase in transaction fees, which rose from $1.99 per transaction on April 26 to the current level of $8.82 per transaction. Bitcoin miners are struggling to keep up with demand, leaving many users frustrated and unable to complete their transactions in a timely manner.

While some idiots are excited about the surge in bitcoin blockchain activity, bitcoin-maximalists are calling the rise in non-financial transactions a DDoS attack. Particularly zealous crypto-idiots scream something like:

Stop whining. Either accept that huge mempool and high fees will be the norm, or properly increase block size.

I want to ask the insane crowd of idiots and crypto-startups of the BRC-20 scam: When are you going to get drunk and calm down? Do something useful. There are plenty of shitchains around, there's plenty of work to be done and endless numbers of dumb and greedy idiots ready to buy any shitchain for the promise of X. Leave bitcoin alone, please. There's a crisis, you'll lose everything. Literally everything. Better buy bitcoin and take a couple of years off. You'll make more money.

Replying to

$elfish gene

The first attempt to attack bitcoin led to a fundamentally improved bitcoin itself.

Shouldn't we be afraid of AI and neural networks?

If bitcoin is capable of self-protection against hacking even in time?

Creating a timestamp during SHA256 calculations makes it even more complicated and impossible to decompose into multipliers. Each chip solves the math problem at a different speed, some in 4-5 picaseconds, others in 6-7 nanoseconds. EVRICA