This article is sponsored by the inscriptions community with 5x100insc. 100insc is currently worth 2 servings of luxurious pork trotter rice, and in the future it may be worth a 15-day luxurious tour to Sanya for 2 people! (fish)
This article mainly introduces the BRC-20 inscription track and shares how to tap into potential inscriptions. (Fisherman)
What are inscriptions?
At the end of December 2022, Casey Rodarmor appeared in the public eye with the concept of Bitcoin Ordinals and Inscriptions, introducing NFT to the Bitcoin network.
A Bitcoin Inscription is a piece of metadata inscribed on Satoshis using Ordinals, also known as a "Bitcoin NFT".
The smallest unit of Bitcoin is Satoshi (sats), 1BTC = 100 million Satoshis, each Satoshi is sorted by ordinal number theory, has different characteristics, and has a unique number. These Satoshis with different rare characteristics are called inscriptions.
Friends who are interested in more knowledge about inscriptions can study it on their own.
Of course, it doesn’t matter if you don’t want to study or don’t understand. It doesn’t affect our enthusiasm for the inscription track or our ability to make money. Just remember that there are three important words in the inscription track: ordinals, satoshi, and inscriptions. Their BRC-20 inscriptions are ordi, sats, and insc.
But there are some characteristics of the inscription that you should remember (which affects making money):
1. First come, first served: The higher the GAS fee, the higher the priority. The same gas fee is first come, first served; (PS: If the mint inscription progress exceeds 90%, please remember to increase gas. If you want to complete the inscription and sell it earlier, please increase gas. This is all experience exchanged for money)
2. Unique: Once it is inscribed, the later ones cannot inscribe it again, and the inscription of the same characters cannot be deployed repeatedly, which is unique;
3. Unalterable: The inscription is engraved on the satoshi and cannot be tampered with. There is no possibility of unlocking/issuing additional coins to crash the market.
4. More fair: Everyone can cast and mint, the cost for big investors or project owners is the same as ours, and there is no insider trading;
5. Safer: No contracts, no contract loopholes, no Pixiu risks, no RUGs;
These characteristics are one of the important reasons why the BRC-20 inscription track is so popular. It gives the vast majority of people a fairer and safer opportunity to participate in the primary market.
After introducing inscriptions, let’s talk specifically about why the inscription track is so popular 🔥 and how to find potential inscriptions!
Why is it so popular 🔥🔥🔥🔥🔥?
1. The time has come!
There is a saying in philosophy that goes “where you came from, there you go back to.” The Bitcoin ecosystem has been tried since 2014, but it has not made any progress in all these years. On the contrary, the ETH ecosystem has flourished since 2016-2017, which is due to various factors such as technology, talents, knowledge, and the performance of Bitcoin itself.
Over the years, the ETH ecosystem has tried many technical paths, some of which have been successful, and some have failed, but they have all accumulated technology, knowledge, and experience. By 2023, perhaps enough experience has been accumulated to move what has been done on ETH to BTC, and the time has come. The BRC-20 inscriptions are the vanguard of the Bitcoin ecosystem, and the BTC ecosystem has gradually begun.
2. The rebellion began.
Retail investors, who make up the vast majority of the cryptocurrency community, are fed up with the insider trading, Pixiu, additional issuance/unlocking dumps, contract backdoors/loopholes, and extremely unequal primary market chips of various project parties in the ETH ecosystem!
BRC-20 inscriptions give us retail investors a fairer, safer and cheaper opportunity to participate in the project. In BRC-20, there are no Pixiu, no contracts, no RUGs, and everyone has to mint chips, etc. It's like being a slave to the ETH ecosystem and suddenly finding out that I'm a citizen in the BTC ecosystem. So the resistance begins, and the BRC inscription track is alive!
3.Someone became rich overnight.
If there is money to be made, some people will risk their lives! On March 10, ordi was the first inscription to be deployed in the BRC-20 inscription track. The initial cost was 0.8U/1, and 1,000 ordi per piece. On May 8, it reached 37U/1ordi, an increase of 46,000 times.
I participated in minting from May 1st to 9th this year. Many inscriptions increased 10 times in one day after minting. The price increased 10 times or 20 times the next day after buying them. Many people made money, and it was a huge profit.
I minted insc on May 6 (this article was also sponsored by insc), the cost was less than 0.01U/1, and the next day on May 7, insc rose to 0.6/1, a 60-fold increase in one day. I bought 1,500 dollars of SHIB before dinner, and it became 4,500 dollars after dinner.
This was the first wave of getting rich in May. The craze for the inscription track that started in late October and early November has made more people make money. Both the newly-exploded sats and the old inscription ordi have increased by 10 times, making many people make money. Of course, the new generation of inscriptions such as cats and rats have even more explosive power!
I have finished talking about the reasons for the sudden popularity: the timing has come, the mechanism is fairer, and many people have made money.
Next, let’s talk about how to find potential inscriptions.
In fact, the current market value of ordinals $ORDI and Satoshi $SATS, which has exceeded 400 million US dollars, has already told us what potential inscriptions are, so we just need to follow suit.
I summarized a few points:
1. Strong IP concept: The advantage of having a strong IP is that anyone who enters the BRC track and understands the BTC ecosystem will know about this IP, which makes it faster, simpler, and easier to reach a consensus. In fact, only ordi, sats, and insc meet the requirements;
2. Practical applications: The BRC-20 track is still in a very early stage, and most of it is MEME, which does not generate actual benefits. If the track wants to grow and prosper, practical use cases are essential. The use of sats for gas in unisat-swap is a good use case;
3. Strong community consensus: If the community has a structure, is united, and works hard, there will be more opportunities. The surge in ordi sats rats is a good example.
4. Scarcity: Only four characters can be engraved on the inscription track, which leads to very few scarce inscriptions. The scarcer the inscriptions, the more likely they are to emerge in a bull market, because funds and emotions are more likely to flow in this direction.
5. The chips are dispersed, the turnover is sufficient, and there are many addresses: The advantage of this is that the chips are in the hands of those with high consensus and are relatively dispersed. They will not face selling pressure due to a slight increase, and it is easier to pull them higher.
6. The deployment time is early, so it can barely be counted as one.
If you think there are other features, please tell me in the comment section. Of course, there are many projects in the inscription track, and Master Zhong in the community has sorted them out, as shown below↓↓↓
At present, many investment institutions, big players (such as Binance), and big investors/whales have not entered the market. The more these conditions are met, the more likely they are to be favored by them. However, they do not have chips and need to buy in the market. Then those inscriptions that are favored will naturally explode in price. The first to be affected are of course ordi and sats, but there will definitely be more than just these two. If you ambush them correctly, you will make a lot of money.
The BRC-20 track is really in its very early stages. It is worth less than 3 billion US dollars now, which is too small compared to Bitcoin's 710 billion US dollars and ETH's 270 billion US dollars. There is huge room for growth in the future, so join in early if you can.
By the way, Binance’s Web3 wallet has been fully updated, and Unisat has also opened its source code. At the same time, Binance and Unisat are partners, so it is almost certain that Binance will launch the inscription market in the next short period of time. Do you think the Binance inscription market will be called the ordinarys market like other platforms, or the inscriptions market? I guess it is most likely called the inscriptions market. After all, Binance previously published an article to popularize the inscription track using inscriptions instead of ordinarys. Binance’s entry is very worth looking forward to!
In fact, if you understand it, you will find that insc is really high-quality. Because insc stands for the concept of inscriptions, it has a strong IP concept and scarcity attributes. As long as you play the inscription track, whether it is BRC20 inscriptions, ARC20 inscriptions, SRC20 inscriptions, ERC20 inscriptions, or PRC20 inscriptions, they are all inscriptions. Whether you trade in unisat or OKweb3 wallets, you are trading inscriptions; whether you check the browser or your own wallet, inscriptions will appear in front of you; whether you want to buy inscriptions or buy inscribe inscriptions, they will appear in front of you, but you may not realize it yet.
The BRC-20 inscription insc, which stands for inscriptions and inscribe, currently has a market value of only 1.6 million US dollars. Compared with the market value of ordi and sats, which also have strong IP concepts and are worth 400 million US dollars, there is huge room for growth!
This article only represents personal opinions and does not constitute any investment advice. Please do thorough research before investing! DYOR
