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Bitcoin: A Comprehensive Guide to the World's First CryptocurrencyBitcoin: A Comprehensive Guide to the World's First Cryptocurrency Bitcoin is a digital currency that was created in 2009 by an unknown person using the pseudonym Satoshi Nakamoto. It is a decentralized form of currency that operates independently of central banks and governments. Bitcoin uses a peer-to-peer network to facilitate transactions and is stored on a blockchain, a public ledger that records all Bitcoin transactions. Bitcoin's popularity has grown significantly in recent years, with its market capitalization reaching over $1 trillion in 2021. In this article, we will take a closer look at what Bitcoin is, how it works, and its potential implications for the future of finance. What is Bitcoin? Bitcoin is a digital currency that is created and held electronically. It is decentralized, meaning it is not controlled by any central authority, such as a government or financial institution. Bitcoin is also known as a cryptocurrency because it uses cryptography to secure transactions and control the creation of new units. How Does Bitcoin Work? Bitcoin transactions are verified by network nodes through cryptography and recorded in a public ledger called a blockchain. The blockchain is a decentralized database that records all Bitcoin transactions, and it is maintained by a network of computers around the world. To send or receive Bitcoins, users must have a Bitcoin wallet, which is a digital wallet that stores the user's private keys, which are used to access their Bitcoin address and sign transactions. Bitcoin wallets come in various forms, including desktop wallets, mobile wallets, and hardware wallets. When a user wants to send Bitcoins to another user, they broadcast the transaction to the Bitcoin network. The network nodes then verify the transaction and add it to the blockchain. Once the transaction is confirmed, the Bitcoins are transferred from the sender's wallet to the receiver's wallet. Bitcoin Mining One unique aspect of Bitcoin is that it is created through a process called mining. Bitcoin mining is the process of adding transaction records to the blockchain by solving complex mathematical equations. Miners use specialized computer hardware and software to solve these equations, and they are rewarded with newly created Bitcoins for each block they add to the blockchain. The mining process is designed to be difficult so that the number of new Bitcoins created each day is limited. The number of Bitcoins created each day is halved every four years, which is known as the Bitcoin halving. Bitcoin's Limitations While Bitcoin has many advantages over traditional currencies, it also has some limitations. One of the biggest limitations is that it can be slow and expensive to use for small transactions. This is because the blockchain can only process a limited number of transactions per second, and the fees for transactions can be high during times of high demand. Another limitation of Bitcoin is that it is not widely accepted as a form of payment. While more and more businesses are starting to accept Bitcoin, it is still not as widely accepted as traditional currencies. Bitcoin's Potential Implications for the Future Bitcoin has the potential to transform the world of finance in many ways. One of the most significant implications of Bitcoin is that it allows for truly borderless transactions. Because Bitcoin is decentralized, it can be sent anywhere in the world without the need for a bank or other financial institution to facilitate the transaction. Bitcoin can also be used to provide financial services to people who do not have access to traditional banking services. This is because Bitcoin does not require a bank account or credit check to use. Another potential implication of Bitcoin is that it could disrupt the traditional financial system. Because Bitcoin is decentralized and not controlled by any central authority, it could challenge the dominance of banks and other financial institutions. Conclusion Bitcoin is a digital currency that is decentralized and operates independently of central banks and governments. It uses a peer-to-peer network to facilitate transactions and is stored on a public ledger called a blockchain. Bitcoin has the potential to transform the world of finance #bitcoindifficulty #bitcoindifficulty #bitcoinordinals

Bitcoin: A Comprehensive Guide to the World's First Cryptocurrency

Bitcoin: A Comprehensive Guide to the World's First Cryptocurrency

Bitcoin is a digital currency that was created in 2009 by an unknown person using the pseudonym Satoshi Nakamoto. It is a decentralized form of currency that operates independently of central banks and governments. Bitcoin uses a peer-to-peer network to facilitate transactions and is stored on a blockchain, a public ledger that records all Bitcoin transactions.

Bitcoin's popularity has grown significantly in recent years, with its market capitalization reaching over $1 trillion in 2021. In this article, we will take a closer look at what Bitcoin is, how it works, and its potential implications for the future of finance.

What is Bitcoin?

Bitcoin is a digital currency that is created and held electronically. It is decentralized, meaning it is not controlled by any central authority, such as a government or financial institution. Bitcoin is also known as a cryptocurrency because it uses cryptography to secure transactions and control the creation of new units.

How Does Bitcoin Work?

Bitcoin transactions are verified by network nodes through cryptography and recorded in a public ledger called a blockchain. The blockchain is a decentralized database that records all Bitcoin transactions, and it is maintained by a network of computers around the world.

To send or receive Bitcoins, users must have a Bitcoin wallet, which is a digital wallet that stores the user's private keys, which are used to access their Bitcoin address and sign transactions. Bitcoin wallets come in various forms, including desktop wallets, mobile wallets, and hardware wallets.

When a user wants to send Bitcoins to another user, they broadcast the transaction to the Bitcoin network. The network nodes then verify the transaction and add it to the blockchain. Once the transaction is confirmed, the Bitcoins are transferred from the sender's wallet to the receiver's wallet.

Bitcoin Mining

One unique aspect of Bitcoin is that it is created through a process called mining. Bitcoin mining is the process of adding transaction records to the blockchain by solving complex mathematical equations. Miners use specialized computer hardware and software to solve these equations, and they are rewarded with newly created Bitcoins for each block they add to the blockchain.

The mining process is designed to be difficult so that the number of new Bitcoins created each day is limited. The number of Bitcoins created each day is halved every four years, which is known as the Bitcoin halving.

Bitcoin's Limitations

While Bitcoin has many advantages over traditional currencies, it also has some limitations. One of the biggest limitations is that it can be slow and expensive to use for small transactions. This is because the blockchain can only process a limited number of transactions per second, and the fees for transactions can be high during times of high demand.

Another limitation of Bitcoin is that it is not widely accepted as a form of payment. While more and more businesses are starting to accept Bitcoin, it is still not as widely accepted as traditional currencies.

Bitcoin's Potential Implications for the Future

Bitcoin has the potential to transform the world of finance in many ways. One of the most significant implications of Bitcoin is that it allows for truly borderless transactions. Because Bitcoin is decentralized, it can be sent anywhere in the world without the need for a bank or other financial institution to facilitate the transaction.

Bitcoin can also be used to provide financial services to people who do not have access to traditional banking services. This is because Bitcoin does not require a bank account or credit check to use.

Another potential implication of Bitcoin is that it could disrupt the traditional financial system. Because Bitcoin is decentralized and not controlled by any central authority, it could challenge the dominance of banks and other financial institutions.

Conclusion

Bitcoin is a digital currency that is decentralized and operates independently of central banks and governments. It uses a peer-to-peer network to facilitate transactions and is stored on a public ledger called a blockchain. Bitcoin has the potential to transform the world of finance

#bitcoindifficulty #bitcoindifficulty #bitcoinordinals
Bitcoin Ordinals Website Faces Unexpected Onslaught of Spam, Experiencing its Own Medicine- The Bitcoin Ordinals site faced a DDoS attack, causing a crash, which is ironic given Ordinals' criticism for spamming the Bitcoin network. - Casey Rordamor, the creator, labeled it a DDoS, but critics like Luke Dashjr highlight Rordamor's own network "spamming." - Dashjr's comparison of Ordinals to a heinous act intensified the already heated debate. - Despite backlash, the Ordinals site is back up, adding more entries to the network. - Bitcoin's network congestion worsens, with over 370,000 unconfirmed transactions and soaring fees, exacerbating the "spam" scenario. Certainly, here's an alternative text broken down into paragraphs: Recently, the Bitcoin Ordinals' classification as "spam" triggered a heated debate on Twitter. Almost instantly, factions emerged among developers and enthusiasts, and the exchanges of verbal jabs have persisted since. However, a surprising twist unfolded this week. The Bitcoin Ordinals website encountered its inaugural spam attack since its inception, resulting in widespread derision and ridicule from the "anti-Ordinals squad." The Ordinals' Website faced a Massive Crash. On December 27, a Distributed Denial of Service (DDOS) attack struck the Bitcoin Ordinals website, leading to a complete blackout. In essence, DDOS attacks inundate a network with requests, overwhelming it and causing it to cease functioning. This attack drew comparisons from critics who likened it to the impact Ordinals supposedly exert on the Bitcoin network. The irony was glaring, and detractors swiftly capitalized on it, reigniting the contentious debate. Casey Rordamor, the creator of Bitcoin Ordinals, broke the news of the attack through a tweet, expressing bewilderment at the unprecedented crash since the website's launch. Critics didn't hold back. Luke Dashjr, the Bitcoin core developer central to the pro versus anti-Ordinals discourse, seized the opportunity to question Rordamor's portrayal of the crash as a DDOS attack. Dashjr highlighted Rordamor's alleged hypocrisy, referencing previous arguments wherein he justified Ordinals as long as miners processed ordinal transactions. Dashjr's criticism extends further. He once likened Ordinals on the Bitcoin network to a sensitive issue, comparing it to a now-deleted Twitter thread where he paralleled the concept to a distressing analogy. Despite the website's restoration and the continuous inscription of ordinals on the network amid the criticism, Bitcoin's "spam" issue persists. The mempool holds over 370,000 unconfirmed transactions, causing fees to surge drastically for both standard and high-priority transactions. Disclaimer: While aiming for accuracy, Voice of Crypto absolves itself from any potential misinformation. Cryptocurrencies are highly volatile assets, necessitating thorough research before making financial decisions. #Bitcoin #BTC #Ordinals #bitcoinordinals #BitcoinETF

Bitcoin Ordinals Website Faces Unexpected Onslaught of Spam, Experiencing its Own Medicine

- The Bitcoin Ordinals site faced a DDoS attack, causing a crash, which is ironic given Ordinals' criticism for spamming the Bitcoin network.
- Casey Rordamor, the creator, labeled it a DDoS, but critics like Luke Dashjr highlight Rordamor's own network "spamming."
- Dashjr's comparison of Ordinals to a heinous act intensified the already heated debate.
- Despite backlash, the Ordinals site is back up, adding more entries to the network.
- Bitcoin's network congestion worsens, with over 370,000 unconfirmed transactions and soaring fees, exacerbating the "spam" scenario.

Certainly, here's an alternative text broken down into paragraphs:
Recently, the Bitcoin Ordinals' classification as "spam" triggered a heated debate on Twitter. Almost instantly, factions emerged among developers and enthusiasts, and the exchanges of verbal jabs have persisted since.
However, a surprising twist unfolded this week. The Bitcoin Ordinals website encountered its inaugural spam attack since its inception, resulting in widespread derision and ridicule from the "anti-Ordinals squad."
The Ordinals' Website faced a Massive Crash. On December 27, a Distributed Denial of Service (DDOS) attack struck the Bitcoin Ordinals website, leading to a complete blackout. In essence, DDOS attacks inundate a network with requests, overwhelming it and causing it to cease functioning.
This attack drew comparisons from critics who likened it to the impact Ordinals supposedly exert on the Bitcoin network. The irony was glaring, and detractors swiftly capitalized on it, reigniting the contentious debate.
Casey Rordamor, the creator of Bitcoin Ordinals, broke the news of the attack through a tweet, expressing bewilderment at the unprecedented crash since the website's launch.
Critics didn't hold back. Luke Dashjr, the Bitcoin core developer central to the pro versus anti-Ordinals discourse, seized the opportunity to question Rordamor's portrayal of the crash as a DDOS attack. Dashjr highlighted Rordamor's alleged hypocrisy, referencing previous arguments wherein he justified Ordinals as long as miners processed ordinal transactions.
Dashjr's criticism extends further. He once likened Ordinals on the Bitcoin network to a sensitive issue, comparing it to a now-deleted Twitter thread where he paralleled the concept to a distressing analogy.
Despite the website's restoration and the continuous inscription of ordinals on the network amid the criticism, Bitcoin's "spam" issue persists. The mempool holds over 370,000 unconfirmed transactions, causing fees to surge drastically for both standard and high-priority transactions.
Disclaimer: While aiming for accuracy, Voice of Crypto absolves itself from any potential misinformation. Cryptocurrencies are highly volatile assets, necessitating thorough research before making financial decisions.

#Bitcoin #BTC #Ordinals #bitcoinordinals #BitcoinETF
Do you already know Bitcoin Ordinal Protocol ? It's still not very busy going forward, but.. it's likely to be bustling with NFTs and great features. 🔸 Details : https://academy.binance.com/en/glossary/ordinals?ref=AZTKZ9XS&utm_source=BinanceTwitter&utm_medium=GlobalSocial&utm_campaign=GlobalSocial 💎Order of Bitcoin Wallet : https://ordinalswallet.com/wallet 💎 Ordinal Bitcoin Marketplace : http://ordswap.io/ 💎Ordinal Bitcoin Bridges : https://sideshift.ai/ #BTC #Binance #bitcoinordinals #keepbuilding

Do you already know Bitcoin Ordinal Protocol ?

It's still not very busy going forward, but.. it's likely to be bustling with NFTs and great features.

🔸 Details : https://academy.binance.com/en/glossary/ordinals?ref=AZTKZ9XS&utm_source=BinanceTwitter&utm_medium=GlobalSocial&utm_campaign=GlobalSocial

💎Order of Bitcoin Wallet : https://ordinalswallet.com/wallet

💎 Ordinal Bitcoin Marketplace : http://ordswap.io/

💎Ordinal Bitcoin Bridges : https://sideshift.ai/

#BTC #Binance #bitcoinordinals #keepbuilding
Magic Eden Launches Bitcoin NFT Marketplace Amid Rising Popularity Of Ordinal NFTsMagic Eden, the non-fungible token (NFT) marketplace, announced on Monday the launch of its Bitcoin marketplace, offering its familiar user experience and the first audited, secure marketplace for Ordinals. The move is part of Magic Eden’s multichain journey, as the marketplace has already built marketplaces on Solana and Polygon and is planning a more concerted entry into Ethereum. The decision to support Bitcoin is driven by several key factors, including getting back to the roots of the blockchain and exploring emerging markets, delivering the best marketplace experience on chain, partnering with wallets Hiro and Xverse to bring a familiar wallet transaction experience onto the marketplace, and supporting the Bitcoin culture of trust, security, and decentralization. The marketplace was built within a month, culminating in a hackathon in California with over a dozen developers. Magic Eden aims to empower creators and collectors by providing them with the tools and infrastructure they need to succeed. The marketplace challenges the status quo and showcases Magic Eden’s ability to overcome technical barriers, providing an intuitive and familiar interface for users to buy, sell, list, and bid on collectibles. While launching with a secondary collectibles platform, Magic Eden has already received enormous demand to provide a Launchpad to deliver inscription services directly to creators. The marketplace is actively looking into the development of an on-chain, permissionless royalty standard and is committed to working with creators and the greater community. The move to support Bitcoin aligns with Magic Eden’s mission to promote the benefits of collectibles and blockchain technology while remaining true to the principles that underpin the technology. To help push the ordinal ecosystem forward, Magic Eden plans to open source key pieces of its marketplace infrastructure in the near future. The marketplace wants to do its part and share the discoveries it has made to help this space flourish. Overall, Magic Eden’s decision to launch its Bitcoin marketplace shows its commitment to innovation and its ability to adapt to emerging markets. The marketplace is not only expanding its reach but also contributing to the growth of the ordinal ecosystem by providing a secure and audited marketplace for collectibles. As the first major marketplace on Bitcoin, Magic Eden is paving the way for others to follow and continues to be at the forefront of the NFT marketplace industry. #MagicEden #NFT #bitcoinordinals #BitcoinNFT #azcoinnews This article was republished from azcoinnews.com

Magic Eden Launches Bitcoin NFT Marketplace Amid Rising Popularity Of Ordinal NFTs

Magic Eden, the non-fungible token (NFT) marketplace, announced on Monday the launch of its Bitcoin marketplace, offering its familiar user experience and the first audited, secure marketplace for Ordinals.

The move is part of Magic Eden’s multichain journey, as the marketplace has already built marketplaces on Solana and Polygon and is planning a more concerted entry into Ethereum.

The decision to support Bitcoin is driven by several key factors, including getting back to the roots of the blockchain and exploring emerging markets, delivering the best marketplace experience on chain, partnering with wallets Hiro and Xverse to bring a familiar wallet transaction experience onto the marketplace, and supporting the Bitcoin culture of trust, security, and decentralization.

The marketplace was built within a month, culminating in a hackathon in California with over a dozen developers. Magic Eden aims to empower creators and collectors by providing them with the tools and infrastructure they need to succeed. The marketplace challenges the status quo and showcases Magic Eden’s ability to overcome technical barriers, providing an intuitive and familiar interface for users to buy, sell, list, and bid on collectibles.

While launching with a secondary collectibles platform, Magic Eden has already received enormous demand to provide a Launchpad to deliver inscription services directly to creators. The marketplace is actively looking into the development of an on-chain, permissionless royalty standard and is committed to working with creators and the greater community.

The move to support Bitcoin aligns with Magic Eden’s mission to promote the benefits of collectibles and blockchain technology while remaining true to the principles that underpin the technology. To help push the ordinal ecosystem forward, Magic Eden plans to open source key pieces of its marketplace infrastructure in the near future. The marketplace wants to do its part and share the discoveries it has made to help this space flourish.

Overall, Magic Eden’s decision to launch its Bitcoin marketplace shows its commitment to innovation and its ability to adapt to emerging markets. The marketplace is not only expanding its reach but also contributing to the growth of the ordinal ecosystem by providing a secure and audited marketplace for collectibles. As the first major marketplace on Bitcoin, Magic Eden is paving the way for others to follow and continues to be at the forefront of the NFT marketplace industry.

#MagicEden #NFT #bitcoinordinals #BitcoinNFT #azcoinnews

This article was republished from azcoinnews.com

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Bitcoin's Ordinal System: A Glitch or a Fundamental Flaw? Comparable Challenges Observed in TONTorano, a service modelled after Bitcoin ordinals, faced a critical situation when it nearly crashed TON, the blockchain it operates on.The TON blockchain struggled, managing a mere 1 transaction per second, a drastic contrast to its capacity of processing 100,000 transactions per second.The crisis forced Torano to halt its minting process, and several widely-used TON wallet services had no choice but to cease operations temporarily.The emergence of services akin to Bitcoin ordinals has sparked a heated debate within the developer community, leaving opinions divided on whether these developments are a newfound concern or a beneficial advancement. Recent revelations by Luke Dashjr, a Bitcoin core developer, stirred controversy within the cryptocurrency sphere. Dashjr highlighted a vulnerability within the Bitcoin network, asserting that ordinals and blockchain "inscriptions" persisted due to an existing bug, leading to network congestion. Surprisingly, shortly after this disclosure, the TON blockchain faced near-collapse following a significant slowdown in transaction processing this week, instigated by a new ordinals-inspired project's launch on TON. Background on TON and Torano: Torano, a recently introduced service on TON, mirrors Bitcoin inscriptions by enabling users to create inscriptions complying with the TON20 token standard. Launched this week, Torano garnered immense popularity among TON users, who actively created and shared inscriptions, mimicking the surge seen in Bitcoin. This sudden spike in activity echoed Bitcoin's experience, congesting the TON blockchain and drastically slowing transaction processing to less than 1 transaction per second, a stark contrast from its previous capacity of around 100,000 transactions. The subsequent backlog escalated, with over 2.5 million pending transactions by Thursday, forcing Torano to temporarily halt minting, citing "user experience" issues. TON Struggles and Technical Challenges: In response to the congestion, prominent TON wallet services like Tonkeeper suspended operations. Technical reports hinted at Torano contributing to the problem, aggravated by inadequate validator nodes and hardware incapability. The network's rapid expansion exposed weaknesses among validators, causing widespread failures and network degradation. The reported solution involves patching these issues, penalizing unprepared validators to prevent future delays. Assessing the Ordinals Controversy: Dashjr's critique sparked debates on the legitimacy and significance of Ordinals and BRC-20 tokens, labeled by Dashjr as exploitative and disruptive. Some argued these tokens merely exploit Bitcoin's vulnerability, while proponents see them as avenues for innovation and creativity. Whether Ordinals signify a new blockchain nuisance remains subjective. While Dashjr deems them as spam, others view them as valuable assets within the Bitcoin ecosystem, reflecting a broader discourse on the utility of such tokens. In conclusion, Ordinals seem entrenched in the crypto landscape, representing both innovation and contention. Disclaimer: Voice of Crypto aims for accurate information, yet disclaims liability for missing facts or inaccuracies. Cryptocurrencies are highly volatile; research is vital for financial decisions. #bitcoinordinals #Ordinals #Bitcoin #BTC #ton $BTC

Bitcoin's Ordinal System: A Glitch or a Fundamental Flaw? Comparable Challenges Observed in TON

Torano, a service modelled after Bitcoin ordinals, faced a critical situation when it nearly crashed TON, the blockchain it operates on.The TON blockchain struggled, managing a mere 1 transaction per second, a drastic contrast to its capacity of processing 100,000 transactions per second.The crisis forced Torano to halt its minting process, and several widely-used TON wallet services had no choice but to cease operations temporarily.The emergence of services akin to Bitcoin ordinals has sparked a heated debate within the developer community, leaving opinions divided on whether these developments are a newfound concern or a beneficial advancement.

Recent revelations by Luke Dashjr, a Bitcoin core developer, stirred controversy within the cryptocurrency sphere. Dashjr highlighted a vulnerability within the Bitcoin network, asserting that ordinals and blockchain "inscriptions" persisted due to an existing bug, leading to network congestion.
Surprisingly, shortly after this disclosure, the TON blockchain faced near-collapse following a significant slowdown in transaction processing this week, instigated by a new ordinals-inspired project's launch on TON.
Background on TON and Torano: Torano, a recently introduced service on TON, mirrors Bitcoin inscriptions by enabling users to create inscriptions complying with the TON20 token standard. Launched this week, Torano garnered immense popularity among TON users, who actively created and shared inscriptions, mimicking the surge seen in Bitcoin.
This sudden spike in activity echoed Bitcoin's experience, congesting the TON blockchain and drastically slowing transaction processing to less than 1 transaction per second, a stark contrast from its previous capacity of around 100,000 transactions.
The subsequent backlog escalated, with over 2.5 million pending transactions by Thursday, forcing Torano to temporarily halt minting, citing "user experience" issues.
TON Struggles and Technical Challenges: In response to the congestion, prominent TON wallet services like Tonkeeper suspended operations. Technical reports hinted at Torano contributing to the problem, aggravated by inadequate validator nodes and hardware incapability.
The network's rapid expansion exposed weaknesses among validators, causing widespread failures and network degradation. The reported solution involves patching these issues, penalizing unprepared validators to prevent future delays.
Assessing the Ordinals Controversy: Dashjr's critique sparked debates on the legitimacy and significance of Ordinals and BRC-20 tokens, labeled by Dashjr as exploitative and disruptive. Some argued these tokens merely exploit Bitcoin's vulnerability, while proponents see them as avenues for innovation and creativity.
Whether Ordinals signify a new blockchain nuisance remains subjective. While Dashjr deems them as spam, others view them as valuable assets within the Bitcoin ecosystem, reflecting a broader discourse on the utility of such tokens.
In conclusion, Ordinals seem entrenched in the crypto landscape, representing both innovation and contention.
Disclaimer: Voice of Crypto aims for accurate information, yet disclaims liability for missing facts or inaccuracies. Cryptocurrencies are highly volatile; research is vital for financial decisions.
#bitcoinordinals #Ordinals #Bitcoin #BTC #ton
$BTC
🔸 Bitcoin's network has reached a significant milestone as the total payments for #bitcoinordinals Inscriptions hit $7.6 million, with over 372,000 new entries contributing to a daily transaction record of 682,281 ✨ #bitcoin #crypto2023
🔸 Bitcoin's network has reached a significant milestone as the total payments for #bitcoinordinals Inscriptions hit $7.6 million, with over 372,000 new entries contributing to a daily transaction record of 682,281 ✨

#bitcoin #crypto2023
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Total Bitcoin Ordinals Fees Up 700% Since AprilAccording to a report compiled by @dgtl_assets of Dune Analytics, the total network fees paid for minting Bitcoin Ordinals reached 1.414 Bitcoin (BTC), equivalent to $38.2 million, on May 20th, marking a 700% increase compared to April 20th and an 831% increase since April 1st. An analysis shows that while there is still interest in Bitcoin NFTs, the majority of Bitcoin Ordinals have shifted towards text-based inscriptions, as opposed to the relatively balanced mix of text and image inscriptions from February to April. According to the explanation from the cross-chain wallet BitKeep, Bitcoin Ordinals "are a numbering system designating a unique number for each individual SAT [Satoshi, or 1/100 millionth of a Bitcoin], allowing tracking and transfer." Combined with the Inscription process, which adds an additional layer of data for each Satoshi, users can mint unique digital assets on the Bitcoin blockchain. In contrast to traditional NFTs, built on smart contracts and stored on solutions like IPFS, the BitKeep developers explain that "Ordinals reside entirely on the Bitcoin blockchain and do not require sidechains or separate tokens." In January 2023, Web 3.0 developer Rodarmor released the Bitcoin Ordinal theoretical framework. Additionally, Web 3.0 developer domo created the Bitcoin BRC-20 token standard in March 2023, utilizing both Ordinals and Inscription to create and manage token contracts, mint tokens, and transfer tokens on Bitcoin. Since then, over 8 million Bitcoin Ordinals have been minted, along with 24,677 BRC-20 tokens created, with a total market capitalization of $612.5 million. On May 20th, cryptocurrency exchange OKX announced the listing of ORDI BRC-20 tokens, the most popular in that portfolio with a market capitalization of over $300 million. #BTC #bitcoinordinals #bitcoin

Total Bitcoin Ordinals Fees Up 700% Since April

According to a report compiled by @dgtl_assets of Dune Analytics, the total network fees paid for minting Bitcoin Ordinals reached 1.414 Bitcoin (BTC), equivalent to $38.2 million, on May 20th, marking a 700% increase compared to April 20th and an 831% increase since April 1st. An analysis shows that while there is still interest in Bitcoin NFTs, the majority of Bitcoin Ordinals have shifted towards text-based inscriptions, as opposed to the relatively balanced mix of text and image inscriptions from February to April.

According to the explanation from the cross-chain wallet BitKeep, Bitcoin Ordinals "are a numbering system designating a unique number for each individual SAT [Satoshi, or 1/100 millionth of a Bitcoin], allowing tracking and transfer." Combined with the Inscription process, which adds an additional layer of data for each Satoshi, users can mint unique digital assets on the Bitcoin blockchain.

In contrast to traditional NFTs, built on smart contracts and stored on solutions like IPFS, the BitKeep developers explain that "Ordinals reside entirely on the Bitcoin blockchain and do not require sidechains or separate tokens."

In January 2023, Web 3.0 developer Rodarmor released the Bitcoin Ordinal theoretical framework. Additionally, Web 3.0 developer domo created the Bitcoin BRC-20 token standard in March 2023, utilizing both Ordinals and Inscription to create and manage token contracts, mint tokens, and transfer tokens on Bitcoin.

Since then, over 8 million Bitcoin Ordinals have been minted, along with 24,677 BRC-20 tokens created, with a total market capitalization of $612.5 million. On May 20th, cryptocurrency exchange OKX announced the listing of ORDI BRC-20 tokens, the most popular in that portfolio with a market capitalization of over $300 million.

#BTC #bitcoinordinals #bitcoin
ORDI Token BRC20 Meroket Lebih Dari 40% saat Binance Mengumumkan Pencatatan. Pengumuman dari Binance, bursa kripto global terkemuka, untuk mengantarkan ORDI ke platformnya memberikan dorongan yang signifikan pada token tersebut. ORDI bukanlah hal baru yang menjadi sorotan, karena sebelumnya telah diterapkan oleh bursa besar lainnya seperti Okx. Namun, anggukan dari Binance-lah yang membuat ORDI melonjak melewati angka $11 dalam kesibukan perdagangan Waktu Bagian Timur pagi hari. Token ORDI, pada dasarnya adalah prasasti Ordinal, adalah koin yang dapat diperdagangkan dan sepadan yang dibuat di blockchain Bitcoin dan mematuhi standar token “BRC20”. Di antara kebanyakan token BRC20 yang diperkenalkan baru-baru ini, ordinal (ORDI) menonjol sebagai token dengan kapitalisasi pasar terbesar. Pernyataan Binance mengungkapkan: “Binance akan mencantumkan ordinal (ORDI) dan membuka perdagangan untuk pasangan perdagangan spot ini pada 07-11-2023 10:00 (UTC).” Mengikuti efek Binance, token BRC20 mengalami lompatan nilai yang mengejutkan sebesar 40% dibandingkan dengan greenback, dan sekilas menghasilkan kapitalisasi pasar mendekati $217 miliar. Serupa dengan kelangkaan bitcoin, pasokan maksimum ORDI dibatasi hingga 21 juta koin, dengan volume perdagangan harian mencapai $161 juta untuk perdagangan ORDI. Terlepas dari lonjakan yang mengesankan ini, nilai ORDI masih terpaut 61% dari puncak bersejarahnya pada 8 Mei 2023 sebesar $28,52. Dalam sebuah langkah strategis, Binance lebih lanjut mengungkapkan rencana untuk mengintegrasikan ORDI sebagai “aset yang dapat dipinjam,” menyiapkan panggung untuk debutnya sebagai daftar margin dalam waktu dua hari, dipasangkan dengan tether ( USDT ) untuk perdagangan margin. Peluncuran ORDI terjadi di tengah kebangkitan minat terhadap prasasti Ordinal, dengan token itu sendiri menghasilkan lebih dari 15.80416 BTC dalam biaya penambang ($549,471) dari hampir 108,000 transaksi. #bitcoin #bitcoinordinals #cryptonews
ORDI Token BRC20 Meroket Lebih Dari 40% saat Binance Mengumumkan Pencatatan.

Pengumuman dari Binance, bursa kripto global terkemuka, untuk mengantarkan ORDI ke platformnya memberikan dorongan yang signifikan pada token tersebut. ORDI bukanlah hal baru yang menjadi sorotan, karena sebelumnya telah diterapkan oleh bursa besar lainnya seperti Okx. Namun, anggukan dari Binance-lah yang membuat ORDI melonjak melewati angka $11 dalam kesibukan perdagangan Waktu Bagian Timur pagi hari.

Token ORDI, pada dasarnya adalah prasasti Ordinal, adalah koin yang dapat diperdagangkan dan sepadan yang dibuat di blockchain Bitcoin dan mematuhi standar token “BRC20”. Di antara kebanyakan token BRC20 yang diperkenalkan baru-baru ini, ordinal (ORDI) menonjol sebagai token dengan kapitalisasi pasar terbesar.

Pernyataan Binance mengungkapkan: “Binance akan mencantumkan ordinal (ORDI) dan membuka perdagangan untuk pasangan perdagangan spot ini pada 07-11-2023 10:00 (UTC).”

Mengikuti efek Binance, token BRC20 mengalami lompatan nilai yang mengejutkan sebesar 40% dibandingkan dengan greenback, dan sekilas menghasilkan kapitalisasi pasar mendekati $217 miliar. Serupa dengan kelangkaan bitcoin, pasokan maksimum ORDI dibatasi hingga 21 juta koin, dengan volume perdagangan harian mencapai $161 juta untuk perdagangan ORDI. Terlepas dari lonjakan yang mengesankan ini, nilai ORDI masih terpaut 61% dari puncak bersejarahnya pada 8 Mei 2023 sebesar $28,52.

Dalam sebuah langkah strategis, Binance lebih lanjut mengungkapkan rencana untuk mengintegrasikan ORDI sebagai “aset yang dapat dipinjam,” menyiapkan panggung untuk debutnya sebagai daftar margin dalam waktu dua hari, dipasangkan dengan tether ( USDT ) untuk perdagangan margin. Peluncuran ORDI terjadi di tengah kebangkitan minat terhadap prasasti Ordinal, dengan token itu sendiri menghasilkan lebih dari 15.80416 BTC dalam biaya penambang ($549,471) dari hampir 108,000 transaksi.

#bitcoin #bitcoinordinals #cryptonews
Puzzling Move: $64K Spent on Unusual 9MB Bitcoin Ordinals Raises Eyebrows1. Data Inscribed in Bitcoin: Recent activity involves inscribing extensive data on the Bitcoin network using Bitcoin inscriptions in binary format, yet to be decoded despite numerous attempts by analysts and enthusiasts. 2. Unknown Data Writer: The writer remains unidentified, utilizing an unnamed BTC address devoid of any other transactions linked to it. 3. Symbolic References: Notably, the inscriptions include a digital pepperoni pizza symbol, potentially referencing Bitcoin's inaugural purchase in 2010. 4. Speculations on Sender's Identity: This mysterious action has sparked speculation about a possible link between the sender and Satoshi Nakamoto, the elusive creator of Bitcoin. The landscape of the Bitcoin network has witnessed some perplexing occurrences since the widespread use of Bitcoin inscriptions emerged. Recently, a startling incident unfolded where nearly 30 $BTC, valued over $1 million, was sent to the network's Genesis wallet. Another anomaly emerged this week, with an individual expending over $60,000 in fees to inscribe an extensive amount of data onto the BTC network. However, the exorbitant fees weren't the focal point; it's the content of this inscription that raises intrigue. Approximately nine megabytes of data were "inscribed" onto the Bitcoin network on January 6, 2024, accompanied by over 332 transactions bearing fees ranging from 14 to 2,500 satoshis. Curiously, this information was encoded in raw binary format, incorporating a mix of English, Greek, and mathematical symbols, shrouded in mystery. Attempts to decode this enigmatic message have been ongoing, employing various methods including AI tools like ChatGPT, yet unraveling this puzzle remains elusive. Speculations abound, questioning if the data is encrypted, contains a concealed message, or represents a cryptic challenge or prank. Adding to the enigma is the unknown identity of the sender behind the transactions. The Bitcoin address used for these inscriptions remains anonymous and unlinked to any other transactions. Another intriguing detail surfaces as some transactions feature a digital pepperoni pizza symbol, reminiscent of the historic event in 2010 when 10,000 Bitcoin was spent on two pizzas. This symbol, combined with the encoded inscriptions, hints at the sender's access to rare and valuable Bitcoin. The question arises: Who is behind this, how did they acquire this Bitcoin, and why utilize "old Bitcoin" for these inscriptions? Furthermore, speculation arises about the possibility of this entity being connected to or even being Satoshi Nakamoto. Recent developments include a significant transfer of 26.9 BTC to the Bitcoin Genesis wallet, fueling speculation around Satoshi Nakamoto's involvement or someone attempting to entice Nakamoto into the open, possibly involving tax implications. The mystique surrounding these unconventional transfers may persist indefinitely or gradually reveal its secrets over time, leaving the origins of these perplexing transactions shrouded in ambiguity. Voice of Crypto strives to provide accurate information, but disclaims responsibility for any missing or inaccurate facts. Given the volatility of cryptocurrencies, it's crucial to conduct thorough research and make informed financial decisions. #BitcoinETFs!  #BTC  #Ordinals  #bitcoinordinals  #BTCOrdinal $BTC

Puzzling Move: $64K Spent on Unusual 9MB Bitcoin Ordinals Raises Eyebrows

1. Data Inscribed in Bitcoin: Recent activity involves inscribing extensive data on the Bitcoin network using Bitcoin inscriptions in binary format, yet to be decoded despite numerous attempts by analysts and enthusiasts.
2. Unknown Data Writer: The writer remains unidentified, utilizing an unnamed BTC address devoid of any other transactions linked to it.
3. Symbolic References: Notably, the inscriptions include a digital pepperoni pizza symbol, potentially referencing Bitcoin's inaugural purchase in 2010.
4. Speculations on Sender's Identity: This mysterious action has sparked speculation about a possible link between the sender and Satoshi Nakamoto, the elusive creator of Bitcoin.

The landscape of the Bitcoin network has witnessed some perplexing occurrences since the widespread use of Bitcoin inscriptions emerged. Recently, a startling incident unfolded where nearly 30 $BTC , valued over $1 million, was sent to the network's Genesis wallet.
Another anomaly emerged this week, with an individual expending over $60,000 in fees to inscribe an extensive amount of data onto the BTC network. However, the exorbitant fees weren't the focal point; it's the content of this inscription that raises intrigue.
Approximately nine megabytes of data were "inscribed" onto the Bitcoin network on January 6, 2024, accompanied by over 332 transactions bearing fees ranging from 14 to 2,500 satoshis. Curiously, this information was encoded in raw binary format, incorporating a mix of English, Greek, and mathematical symbols, shrouded in mystery.
Attempts to decode this enigmatic message have been ongoing, employing various methods including AI tools like ChatGPT, yet unraveling this puzzle remains elusive. Speculations abound, questioning if the data is encrypted, contains a concealed message, or represents a cryptic challenge or prank.
Adding to the enigma is the unknown identity of the sender behind the transactions. The Bitcoin address used for these inscriptions remains anonymous and unlinked to any other transactions.
Another intriguing detail surfaces as some transactions feature a digital pepperoni pizza symbol, reminiscent of the historic event in 2010 when 10,000 Bitcoin was spent on two pizzas. This symbol, combined with the encoded inscriptions, hints at the sender's access to rare and valuable Bitcoin.
The question arises: Who is behind this, how did they acquire this Bitcoin, and why utilize "old Bitcoin" for these inscriptions? Furthermore, speculation arises about the possibility of this entity being connected to or even being Satoshi Nakamoto.
Recent developments include a significant transfer of 26.9 BTC to the Bitcoin Genesis wallet, fueling speculation around Satoshi Nakamoto's involvement or someone attempting to entice Nakamoto into the open, possibly involving tax implications.
The mystique surrounding these unconventional transfers may persist indefinitely or gradually reveal its secrets over time, leaving the origins of these perplexing transactions shrouded in ambiguity.
Voice of Crypto strives to provide accurate information, but disclaims responsibility for any missing or inaccurate facts. Given the volatility of cryptocurrencies, it's crucial to conduct thorough research and make informed financial decisions.
#BitcoinETFs!  #BTC  #Ordinals  #bitcoinordinals  #BTCOrdinal
$BTC
Breaking Ground in 2024: Unveiling the Inaugural Bitcoin Ordinals Gaming Experience with SNES- Ninja Alerts debuts its inaugural game on the Bitcoin platform, marking a significant stride in blockchain integration for gaming. - CEO Trevor Owens shared the news, underlining the company's dedication to exploring crypto frontiers. - This move underscores a growing trend of adopting Bitcoin as a gaming platform, presenting potential for decentralized gaming experiences. - Owens predicts Bitcoin Layer-2 and Solana DApps to be the talk of 2024, hinting at a shift towards scalability and interoperability in blockchain gaming. Ninja Alerts CEO, Trevor Owens, recently revealed groundbreaking news about the integration of a classic game, SNES (Super Nintendo System Games), onto the Bitcoin blockchain. This innovative project involved the use of Bitcoin Ordinals, encoding information directly onto Satoshis. Initially utilized as Bitcoin NFTs, Ordinals evolved to include text, images, audio, video, and code, with a recent trend towards incorporating custom software. The SNES game, launched in 1991, has been revamped and reissued on the Bitcoin blockchain by Owens and his team as part of the Pizza Ninjas company's book launch. Accessible through any internet browser, the game represents a milestone as the first playable game on the Bitcoin blockchain. The development process spanned six months, with additional challenges arising from the integration with various marketplaces and blockchain explorers. Owens took to Twitter to describe the intricate nature of inscribing on a Satoshi, emphasizing the difficulty of replicating this process on the Ethereum blockchain. He coined this innovative method as "Art as an Application," where the term "application" refers to software in this context. The community has largely welcomed this development, dubbing the SNES game the next generation of Bitcoin ordinals, with names like "Ordinal Season Two." However, concerns have been raised about potential copyright infringement and legal repercussions. Investigation reveals that SNES, copyrighted for 95 years since its 1991 launch, may pose challenges, with possible legal actions from Nintendo. The outcome depends on the discretion of Nintendo and their chosen course of action. The journey of Bitcoin Ordinals began with the Ordinal Theory, proving that Satoshis, the smallest Bitcoin units, can carry inscribed information. Initially deemed impossible for Bitcoin due to its lack of smart contract capability, this theory revolutionized the creation of Bitcoin Ordinals, pioneered by Casey Rodarmor in 2022. As of January 9, 2023, there are 54 million ordinals on the Bitcoin blockchain, surpassing the popularity of NFTs. Trevor Owens predicts significant trends for 2024, highlighting the need for Bitcoin's Layer-2 Solution akin to Ethereum L2s to address scalability issues. He also points to Solana's growth in consumer-focused apps, emphasizing its rise in price and developmental activity. A disclaimer reminds readers of the volatile nature of cryptocurrencies and encourages independent research and decision-making. The Voice of Crypto aims to provide accurate and up-to-date information but disclaims responsibility for any missing facts or inaccuracies. #Ordinals #bitcoinordinals #BTC #BitcoinETFs! #Crypto2024 $BTC

Breaking Ground in 2024: Unveiling the Inaugural Bitcoin Ordinals Gaming Experience with SNES

- Ninja Alerts debuts its inaugural game on the Bitcoin platform, marking a significant stride in blockchain integration for gaming.
- CEO Trevor Owens shared the news, underlining the company's dedication to exploring crypto frontiers.
- This move underscores a growing trend of adopting Bitcoin as a gaming platform, presenting potential for decentralized gaming experiences.
- Owens predicts Bitcoin Layer-2 and Solana DApps to be the talk of 2024, hinting at a shift towards scalability and interoperability in blockchain gaming.

Ninja Alerts CEO, Trevor Owens, recently revealed groundbreaking news about the integration of a classic game, SNES (Super Nintendo System Games), onto the Bitcoin blockchain. This innovative project involved the use of Bitcoin Ordinals, encoding information directly onto Satoshis. Initially utilized as Bitcoin NFTs, Ordinals evolved to include text, images, audio, video, and code, with a recent trend towards incorporating custom software.
The SNES game, launched in 1991, has been revamped and reissued on the Bitcoin blockchain by Owens and his team as part of the Pizza Ninjas company's book launch. Accessible through any internet browser, the game represents a milestone as the first playable game on the Bitcoin blockchain. The development process spanned six months, with additional challenges arising from the integration with various marketplaces and blockchain explorers.
Owens took to Twitter to describe the intricate nature of inscribing on a Satoshi, emphasizing the difficulty of replicating this process on the Ethereum blockchain. He coined this innovative method as "Art as an Application," where the term "application" refers to software in this context.
The community has largely welcomed this development, dubbing the SNES game the next generation of Bitcoin ordinals, with names like "Ordinal Season Two." However, concerns have been raised about potential copyright infringement and legal repercussions. Investigation reveals that SNES, copyrighted for 95 years since its 1991 launch, may pose challenges, with possible legal actions from Nintendo. The outcome depends on the discretion of Nintendo and their chosen course of action.
The journey of Bitcoin Ordinals began with the Ordinal Theory, proving that Satoshis, the smallest Bitcoin units, can carry inscribed information. Initially deemed impossible for Bitcoin due to its lack of smart contract capability, this theory revolutionized the creation of Bitcoin Ordinals, pioneered by Casey Rodarmor in 2022.
As of January 9, 2023, there are 54 million ordinals on the Bitcoin blockchain, surpassing the popularity of NFTs. Trevor Owens predicts significant trends for 2024, highlighting the need for Bitcoin's Layer-2 Solution akin to Ethereum L2s to address scalability issues. He also points to Solana's growth in consumer-focused apps, emphasizing its rise in price and developmental activity.
A disclaimer reminds readers of the volatile nature of cryptocurrencies and encourages independent research and decision-making. The Voice of Crypto aims to provide accurate and up-to-date information but disclaims responsibility for any missing facts or inaccuracies.
#Ordinals #bitcoinordinals #BTC #BitcoinETFs! #Crypto2024
$BTC
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