Sirwin
Sirwin

Will Bitcoin Ordinals stop the bull run? Massive transaction fees


At the very beginning of my adventure with blocking and tutorials, I wrote that we will also deal with the topic of cryptocurrencies, drops, technologies, and all this stuff, and now it is a good time to open this chapter on the blog. I hope that not only will you learn from me, but you will also share your observations, longs, shorts, and projects.

NTF World

I am probably exposing myself here to scalping from all the 'NFT lovers', but seeing what NFTs have brought us since their inception, a very short thought comes to my mind: Nothing? That's how I would summarize my attitude towards NFTs, but I respect anyone who has a different approach and I am happy to listen to their arguments.

Now, the same feeling has been stirred in me by Ordinals on the Bitcoin network. Look at the chart of transaction costs.

  47f76542d8ad22868d120dec117dd744354cd5fd280c381ec4c2a822ad320c5f.png

 

Now, think about the fact that we are far from a bull market. Every crypto enthusiast is urging people to keep their funds off the exchange, which requires paying fees with every purchase. Now put yourself in the shoes of an average person who wants to enter the market with, let's say, a hundred dollars, where deposit and withdrawal fees will eat up 40%. He won't see any opportunity in this business.

I admit that I myself make additional purchases on the exchange for a certain period of time, and only when I have accumulated a sufficiently large amount, I transfer it to my wallets. Finally, higher fees driven by worthless (1 satoshi) images clog up the network and poorly scale the blockchain, which can lead to discouraging a significant part of the public and the lack of a new peak on Bitcoin itself.

There is also a second option, as in the case of the Ethereum network, where the Ordinals community will be so large and insane that they will create a new peak while driving up fees on the Bitcoin blockchain to previously unseen levels, and the entry threshold for the average person will be impossible to overcome, or they will be sentenced to holding tokens on the exchange wallet for life.

In the future, a link to my portfolio will be available under each of my posts, which can be tracked and any moves copied for free!

 

 

My crypto exchanges:

Nr.1: Binance https://bit.ly/3nKP663

Nr.2: KuCoin https://bit.ly/3VQ89IT

Nr.3: ByBit https://bit.ly/3NOKl64

Nr.4: MEXC for Meme Coins, Shit Coins and other stuff https://bit.ly/3BctRgw  

My wallets:

Nr.1: MetaMask https://metamask.io/

Nr.2: Yoroi https://yoroi-wallet.com/#/

 

Current portfolio (On the day of writing the post):

BTC: 45.89%

ADA: 21.11%

ETH: 19.92%

CAKE: 5.83%

ARB: 5.58%

XEN: 0.38% (bXEN)

Others: 1.29%

 

Na ecency znajdziesz mojego bloga w języku polskim: 

https://ecency.com/@chainableit

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Chainable.it
Chainable.it

I am an experienced programmer who has recently started creating tutorials on various topics within the IT world. In my tutorials, I cover topics such as PHP, JavaScript, Python, HTML, CSS, PowerShell, Windows, Linux, and AI.


chainable. enter the blockchain
chainable. enter the blockchain

The world of cryptocurrencies from a programmer's perspective. My journey through coding in blockchain, airdrops, promotional tokens, and interesting projects discovered in web.

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