BRC-20 Craziness Can Come Back During a Bull Run and Congest Bitcoins Blockchain Like It Was Never Seen

By Bulebule22 | charangobailable | 13 Aug 2023

BRC-20 fever hitted some months ago and for some weeks congested the Bitcoin blockchain. The transactions were so many that some blocks were mined with double the prize for who found them.

This fever only lasted a few weeks but in a bull run everything usually gets some hype and Ordinals being a new thing they might get a lot of attention, like memecoins get in a bull run.

The problem with Ordinals is that they create a lot of transaction in Bitcoins blockchain, with a lot of transactions, everyone wants priority with their transactions making fees go higher and higher. When this happens, small transactions become literally worthless because the fees will be greater than the transaction itself.

Last bull run we saw a spike in transaction fees, everyone was complaining that they were force holding the coins because of the fees. If the BRC20 fever comes back in a bull run, we will see this happening with more intensity, fees might go to values never seen before. Bitcoin might be difficult to transact if you are a small holder. The only way users might have a way to transact is through the lightning network.

Some type of revision has to be done to this system, Bitcoin can't handle that much transactions right now.

The ones who get compensated if a BRC20 fever hits again are miners who will get much more fees for finding a block. Blocks with a reward of 12 BTC were seen the last time this happened, during a bull run, the rewards might get even greater. We will see what happens but we already had a glimpse of what might happen, even with the lower rewards because of the halving miners might be the winners

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