▣ Genesis Rune UNCOMMON•GOODS Value Analysis

Casey, the founder of Rune Protocol, will hardcode the first 10 coins from 0 to 9 when the RUNES protocol is activated. Among them, the Genesis Rune coin No. 0 is called UNCOMMON•GOODS. Let's analyze this coin.

UNCOMMON•GOODS is limited in time but not in quantity. One coin can be minted for each transaction. The mint will not be closed until the next BTC halving four years later. After four years, its total amount will remain unchanged.

When there are fewer transactions, a BTC block can contain 500 to 2,000 transactions, and when the transaction is busy, a block can contain 4,000 to 5,000 transactions. Assuming that each block contains 500 U·G minting transactions in four years, the total number of U·G is only:

210,000*500= 105,000,000 pieces

That is, a total of 100 million pieces.

According to the billion-dollar valuation, the coin price is 10u. If the transaction fee of the Bitcoin network is 12 sat/vB, the gas cost of minting one U·G is about $2.2. The early chips of U·G are very valuable to market makers and therefore very scarce. The price of one U·G may be around $50-100, and the profit is close to 50 times, which stimulated the first wave of FOMO at the initial launch. Everyone minted U·G, causing a sharp rise in gas, and then stopped minting. The price of U·G coins should eventually tend to the current mint gas fee.

Four years later, U·G stopped minting and the total amount was fixed. At that time, the BTC ecosystem should have flourished, with dozens of rune coins with a market value of more than 1B. As the founding rune/coin with the longest minting time, the value and consensus of U·G will gradually stand out, and it will eventually become the first meme coin in the entire chain beyond Doge.