Ordinal
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Studying The Effect Of Ordinals On The Network Traffic Of Bitcoin [BTC]
Data from #bitcoin explorer Mempool shows that the difficulty on the Bitcoin [BTC] network has increased by 23% year-to-date (YTD) to a new all-time high of 43.55T.
The hash rate increased to 351 EH/s as a result of the increase in difficulty levels, forcing #BTC miners to employ more processing power to mine blocks.
Since the debut of #Ordinal #NFT on the Bitcoin Mainnet in January 2023, the network's overall traffic has dramatically increased.
Extra-‘Ordinals’
Bitcoin Ordinals have dominated the #cryptocurrency industry since their introduction. The total number of Ordinals inscriptions reached 521,843 at the time of writing, with a startling 58% of them being produced in March alone, in accordance to Dune Analytics.
On March 9, when more than 30,000 inscriptions were produced in a single day, the number hit its peak.
However, during the past two months, the total amount of transaction fees paid on the Bitcoin network has more than doubled.
Based on data from Dune, trade in Ordinals amounted for 22% of the total fees paid by miners.
Importantly, Ordinals concentrate on satoshis, the lowest unit of Bitcoin. Users can add data to each satoshi using the protocol. Smart contracts that enable NFTs can be included in this data.
The hash rate increased to 351 EH/s as a result of the increase in difficulty levels, forcing #BTC miners to employ more processing power to mine blocks.
Since the debut of #Ordinal #NFT on the Bitcoin Mainnet in January 2023, the network's overall traffic has dramatically increased.
Extra-‘Ordinals’
Bitcoin Ordinals have dominated the #cryptocurrency industry since their introduction. The total number of Ordinals inscriptions reached 521,843 at the time of writing, with a startling 58% of them being produced in March alone, in accordance to Dune Analytics.
On March 9, when more than 30,000 inscriptions were produced in a single day, the number hit its peak.
However, during the past two months, the total amount of transaction fees paid on the Bitcoin network has more than doubled.
Based on data from Dune, trade in Ordinals amounted for 22% of the total fees paid by miners.
Importantly, Ordinals concentrate on satoshis, the lowest unit of Bitcoin. Users can add data to each satoshi using the protocol. Smart contracts that enable NFTs can be included in this data.
Ordinals 101
📙 ORDINALS 101 kit 📙
Everyone keep talking about ordinals, so I am back :D to let you know everything and so you have your tools ready to get in.
What do you ned to start?
You just need:
● Bitcoin (you can send from Binance)
● An ordinal wallet (careful with the 2 type of addresses like taproot)! *
● Ordinal Marketplace**
● Mempool (to see status of your transactions)**
*Note 1: Legacy and Taproot addresess
It's crucial to highlight that when dealing with Bitcoin and Ordinals, understanding the distinction between legacy addresses and taproot addresses is key. Typically, the addresses you'll be utilizing for ordinal transactions fall under SegWit and/or Taproot (an example of their appearance is shown in the accompanying image). Being mindful is essential because using them incorrectly might result in the platforms interpreting your ordinals as regular sats, leading to potential loss of your digital artifacts.
You have 2 type of addresses (in this case, we are using XVERSE example):
1- Your BITCOIN address (where you send bitcoin to pay fees and buy ordinals)
2- Your ORDINALs address aka taproot (where you receive or from where you send your inscriptions). Starts with bc1
NOTE 2. Useful references
References for your 101 ordinal kit.
💼WALLETS
UNISAT
ORDINALS WALLET
●XVERSE (download as app)
●LEATHER
🛒ORDINALS MARKETPLACE
Magic Eden
Ordinals wallet
Unisat
Mempool.space
P.S. Unfortunately, I can't include links, but each of these projects has its dedicated X/Twitter account. Make sure to verify using the correct tag.
P.S.2. I've organized a handy ordinal library pin on my X/Twitter account, gathering various information with accompanying resources. The handle is identical to this one. Drop a greeting in the comments if you spot it from here! 😄
#btc #bitcoinordinals #ordinals #Ordinal
Everyone keep talking about ordinals, so I am back :D to let you know everything and so you have your tools ready to get in.
What do you ned to start?
You just need:
● Bitcoin (you can send from Binance)
● An ordinal wallet (careful with the 2 type of addresses like taproot)! *
● Ordinal Marketplace**
● Mempool (to see status of your transactions)**
*Note 1: Legacy and Taproot addresess
It's crucial to highlight that when dealing with Bitcoin and Ordinals, understanding the distinction between legacy addresses and taproot addresses is key. Typically, the addresses you'll be utilizing for ordinal transactions fall under SegWit and/or Taproot (an example of their appearance is shown in the accompanying image). Being mindful is essential because using them incorrectly might result in the platforms interpreting your ordinals as regular sats, leading to potential loss of your digital artifacts.
You have 2 type of addresses (in this case, we are using XVERSE example):
1- Your BITCOIN address (where you send bitcoin to pay fees and buy ordinals)
2- Your ORDINALs address aka taproot (where you receive or from where you send your inscriptions). Starts with bc1
NOTE 2. Useful references
References for your 101 ordinal kit.
💼WALLETS
UNISAT
ORDINALS WALLET
●XVERSE (download as app)
●LEATHER
🛒ORDINALS MARKETPLACE
Magic Eden
Ordinals wallet
Unisat
Mempool.space
P.S. Unfortunately, I can't include links, but each of these projects has its dedicated X/Twitter account. Make sure to verify using the correct tag.
P.S.2. I've organized a handy ordinal library pin on my X/Twitter account, gathering various information with accompanying resources. The handle is identical to this one. Drop a greeting in the comments if you spot it from here! 😄
#btc #bitcoinordinals #ordinals #Ordinal
Are Bitcoin Ordinals Threatening the Network? ⚠️
Bitcoin Ordinals and #BRC-20 tokens exploit a vulnerability, allowing inscriptions to surpass transaction data size limits.
This issue, flagged by a #Bitcoin Core developer, causes network congestion and higher transaction costs. The latest Bitcoin Knots update aims to fix this, potentially ending new Ordinals and tokens.
However, existing inscriptions will persist. Ocean, a decentralized mining protocol, highlighted this vulnerability fix, aiming for more genuine transactions. Dashjr strongly opposes #Ordinal inscriptions, calling it a damaging attack on Bitcoin and its users.
The network currently faces congestion, with over 275,000 unconfirmed transactions and increased transaction costs.
#Binance
#crypto2023
Bitcoin Ordinals and #BRC-20 tokens exploit a vulnerability, allowing inscriptions to surpass transaction data size limits.
This issue, flagged by a #Bitcoin Core developer, causes network congestion and higher transaction costs. The latest Bitcoin Knots update aims to fix this, potentially ending new Ordinals and tokens.
However, existing inscriptions will persist. Ocean, a decentralized mining protocol, highlighted this vulnerability fix, aiming for more genuine transactions. Dashjr strongly opposes #Ordinal inscriptions, calling it a damaging attack on Bitcoin and its users.
The network currently faces congestion, with over 275,000 unconfirmed transactions and increased transaction costs.
#Binance
#crypto2023
LIVE
Kri
--
|ORDINAL BITCOIN ($OBTC) | The First Meme BTC Ecosystem | Launch DEC 21 @ 8PM Utc|
💰ORDINAL BITCOIN ($OBTC) 💰$OBTC Team consists of highly experienced blockchain and Defi-Utility developers. The team is supported by an incredible marketing company. Both have produced 8-9 figure projects📈 since 2021.History CreatedIt broke all the parameters on the Pinksale recording the fastest and highest raise of 206 ETH in 2 HOURS in the history of presales. They have closed the presale early to safeguard Investors and ensure everyone has opportunities to profit.MAJOR UTILITIES ON LAUNCH-- OBTC Staking.Our Staking Dapp will go live at launch, offering the ability to stake for periods of 30-60-90 days with very high APYs for early participants.-- Testnet : They are releasing their Testnet OBTC Blockchain Live on launch.UPCOMING UTILITIES:-- OBTC Wallet, OBTC Swap and OBTC Launchpad for key tools & revenue generating apps-- OBTC Bridge for cross-chain bridging of assets (BRC20, ETH, OBTC)-- OBTC Snipe Bot for sniping early tokens & facilitating secure and fast trades-- OBTC NFTs with utility built in & potential revenue opportunities-- OBTC Blockchain for utilizing $OBTC token as gas and internal burn mechanisms, with projects built on itKEY FEATURES 👀- Audited + renounced contract- CMC+CG Fastrack- Top influencers and extensive marketing campaigns- CMC, CG, Dextools, Twitter trending- 0/0 tax- Listing on Top-tier exchanges- Strategic partnerships with DeFi protocols and developers to integrate and develop on $OBTC Blockchain.Launching on Uniswap: December 21 @ 8PM UTC🔗 ALL SOCIALS :LINKTREE : linktr.ee/ordinalbitcoin
It is now possible to create music within Bitcoin
A new application has emerged within the network of the largest cryptocurrency as an Ordinal, but with recursive capabilities that expand its reach.
Artwork, games, and even memes on the Bitcoin blockchain would have seemed unimaginable a year ago, but thanks to Ordinals, it is now happening. And this week, someone used this protocol to introduce a system for creating on-chain music.
The "Descent Into Darkness Music Engine" was registered on the Bitcoin blockchain, containing 10 minted editions sold as individual Ordinals.
By inputting specific keywords, anyone—not just the owner of each entry—can instantly generate a musical track.
Ratoshi told Decrypt that they used OpenAI's ChatGPT to help develop the sounds used in the system.
#Ordinal #crypto2023
A new application has emerged within the network of the largest cryptocurrency as an Ordinal, but with recursive capabilities that expand its reach.
Artwork, games, and even memes on the Bitcoin blockchain would have seemed unimaginable a year ago, but thanks to Ordinals, it is now happening. And this week, someone used this protocol to introduce a system for creating on-chain music.
The "Descent Into Darkness Music Engine" was registered on the Bitcoin blockchain, containing 10 minted editions sold as individual Ordinals.
By inputting specific keywords, anyone—not just the owner of each entry—can instantly generate a musical track.
Ratoshi told Decrypt that they used OpenAI's ChatGPT to help develop the sounds used in the system.
#Ordinal #crypto2023
Kit para iniciar en ORDINALS (español)
📙 Kit para iniciar en ORDINALS 📙
Todo el mundo habla de los ordinales, así que estoy de vuelta :D para informarte de todo y para que tengas tus herramientas listas para empezar.
¿Qué necesitas para comenzar?
Solo necesitas:
Bitcoin (puedes enviar desde Binance)Una billetera de ordinales (¡ten cuidado con los 2 tipos de direcciones como taproot)! *Mercado de Ordinals**Mempool (para ver el estado de tus transacciones)**
*Nota 1: Diferente tipo de direcciones
Es crucial destacar que al lidiar con Bitcoin y Ordinales, es fundamental comprender la diferencia entre las direcciones legacy y las direcciones taproot. Por lo general, las direcciones que utilizarás para transacciones de ordinales se encuentran bajo SegWit y/o Taproot (un ejemplo de su apariencia se muestra en la imagen adjunta). Ser consciente es esencial, ya que usarlas incorrectamente podría hacer que las plataformas interpreten tus ordinales como sats normales, lo que podría resultar en la pérdida potencial de tus artefactos digitales.
Tienes 2 tipos de direcciones (en este caso, usamos el ejemplo de XVERSE):
1- Tu dirección de BITCOIN (donde envías bitcoin para pagar tarifas y comprar ordinales)
2- Tu dirección de ORDINALES alias taproot (donde recibes o desde donde envías tus inscripciones). Comienza con bc1
**NOTA 2. Referencias útiles
Referencias para tu kit ordinal 101.
💼BILLETERAS
UNISATordinalswalletXVERSE (descárgala como aplicación)LEATHER
🛒MERCADO DE ORDINALES
Magic EdenOrdinals WalletUnisat
P.D. Lamentablemente, no puedo incluir enlaces, pero cada uno de estos proyectos tiene su cuenta dedicada en X/Twitter. Asegúrate de verificar usando el hashtag correcto.
P.D.2. He organizado un práctico pin de la biblioteca ordinal en mi cuenta de X/Twitter, recopilando información variada con recursos correspondientes. El identificador es el mismo que este. ¡Deja un saludo en los comentarios si lo encuentras desde aquí! 😄
#btc #bitcoinordinals #ordinals #Ordinal
Todo el mundo habla de los ordinales, así que estoy de vuelta :D para informarte de todo y para que tengas tus herramientas listas para empezar.
¿Qué necesitas para comenzar?
Solo necesitas:
Bitcoin (puedes enviar desde Binance)Una billetera de ordinales (¡ten cuidado con los 2 tipos de direcciones como taproot)! *Mercado de Ordinals**Mempool (para ver el estado de tus transacciones)**
*Nota 1: Diferente tipo de direcciones
Es crucial destacar que al lidiar con Bitcoin y Ordinales, es fundamental comprender la diferencia entre las direcciones legacy y las direcciones taproot. Por lo general, las direcciones que utilizarás para transacciones de ordinales se encuentran bajo SegWit y/o Taproot (un ejemplo de su apariencia se muestra en la imagen adjunta). Ser consciente es esencial, ya que usarlas incorrectamente podría hacer que las plataformas interpreten tus ordinales como sats normales, lo que podría resultar en la pérdida potencial de tus artefactos digitales.
Tienes 2 tipos de direcciones (en este caso, usamos el ejemplo de XVERSE):
1- Tu dirección de BITCOIN (donde envías bitcoin para pagar tarifas y comprar ordinales)
2- Tu dirección de ORDINALES alias taproot (donde recibes o desde donde envías tus inscripciones). Comienza con bc1
**NOTA 2. Referencias útiles
Referencias para tu kit ordinal 101.
💼BILLETERAS
UNISATordinalswalletXVERSE (descárgala como aplicación)LEATHER
🛒MERCADO DE ORDINALES
Magic EdenOrdinals WalletUnisat
P.D. Lamentablemente, no puedo incluir enlaces, pero cada uno de estos proyectos tiene su cuenta dedicada en X/Twitter. Asegúrate de verificar usando el hashtag correcto.
P.D.2. He organizado un práctico pin de la biblioteca ordinal en mi cuenta de X/Twitter, recopilando información variada con recursos correspondientes. El identificador es el mismo que este. ¡Deja un saludo en los comentarios si lo encuentras desde aquí! 😄
#btc #bitcoinordinals #ordinals #Ordinal
SATS Price Prediction: SATS Drops 4%, but Could Still Reach $0.0000006535 Soon
The $1000SATS price was rejected by the $0.0000005420 resistance level as expected, and may correct down to the $0.0000004505 support level throughout the next 48 hours. Continued sell pressure once the altcoin reaches this point may then expose it to the risk of falling down to $0.0000004025 in the short term. Despite this threat of a pull back, there is still the possibility that the #SATS price will enter into another leg up. If this bullish thesis plays out, SATS may attempt to flip the $0.0000005420 resistance level into support. This could then give the crypto the foundation needed to possibly rise to as high as $0.0000006535 in the following week.
This bullish thesis may be invalidated if the SATS price drops below the $0.0000004025 support in the coming few days. In this alternative scenario, the altcoin may be at risk of plummeting down to the $0.0000003505 support level.
Traders and investors will want to note that technical indicators on the 4-hour chart for SATS are currently flagging bearish. This could suggest that the SATS price will drop in the next 48 hours. The Relative Strength Index (RSI) line recently crossed below its Simple Moving Average (SMA) line. This specific technical flag may signal that sellers have grown stronger than buyers. In addition to this, the Moving Average Convergence Divergence (MACD) line is closing in on the MACD Signal line, which indicates that the SATS price may enter into a short-term bearish trend soon.
#Ordinal
The $1000SATS price was rejected by the $0.0000005420 resistance level as expected, and may correct down to the $0.0000004505 support level throughout the next 48 hours. Continued sell pressure once the altcoin reaches this point may then expose it to the risk of falling down to $0.0000004025 in the short term. Despite this threat of a pull back, there is still the possibility that the #SATS price will enter into another leg up. If this bullish thesis plays out, SATS may attempt to flip the $0.0000005420 resistance level into support. This could then give the crypto the foundation needed to possibly rise to as high as $0.0000006535 in the following week.
This bullish thesis may be invalidated if the SATS price drops below the $0.0000004025 support in the coming few days. In this alternative scenario, the altcoin may be at risk of plummeting down to the $0.0000003505 support level.
Traders and investors will want to note that technical indicators on the 4-hour chart for SATS are currently flagging bearish. This could suggest that the SATS price will drop in the next 48 hours. The Relative Strength Index (RSI) line recently crossed below its Simple Moving Average (SMA) line. This specific technical flag may signal that sellers have grown stronger than buyers. In addition to this, the Moving Average Convergence Divergence (MACD) line is closing in on the MACD Signal line, which indicates that the SATS price may enter into a short-term bearish trend soon.
#Ordinal
近期，Ordinal Inscriptions和BRC-20代币的涌现引发了比特币社区的兴奋，导致矿工通过增加交易费用而获得更多收入。然而，一家主要的市场，Magic Eden，已经暂停了BRC-20代币的交易，作为一项预防措施，等待Ordinal Inscriptions的共识。 BRC-20交易和Ordinal Inscriptions的交易量以及它们对BTC交易费用的贡献都显著下降，表明它们在比特币生态系统内的影响和相关性正在发生变化。https://anonsocial.io?ref=kay_myg
#Ordinal #BRC20 #MagicEden #比特币
#Ordinal #BRC20 #MagicEden #比特币
heLLo all my massive long #rats is just gone so massive .. thaks to Cryptopredix indicator for providing the long entry ... the only long today i took and huge profits .... this indicator is just a great indicator ... it keeps on providing massive trades .... now i just closed completely this trade ... and waiting for some new trades .... happy weekend #BinanceTournament #BinanceSquareFamily #TradingStrategies💼💰 #Ordinal
