Do Bitcoin Ordinals Affect Blockspace Usage and Mining Fees? ⛏️
A recent report suggests that despite their increasing presence in daily transactions, inscriptions primarily driven by BRC-20 tokens haven't significantly displaced higher-value Bitcoin transfers.
#Inscription users opt for low fees and willingly wait for confirmations, making them easily displaced by more urgent transfers.
While inscriptions boost blockspace demand and #miner fees, heightened competition among miners and the looming halving event raise concerns about their profitability.
As Bitcoin's price sits at $26,216, could these #Ordinals hold the key to the network's future, or might alternatives like 'Runes' prove more efficient in managing unspent transaction outputs?
