Post
Topic
Board Development & Technical Discussion
Merits 1 from 1 user
Re: NFTs in the Bitcoin blockchain - Ordinal Theory
by
ETFbitcoin
on 25/08/2023, 10:33:01 UTC
⭐ Merited by JayJuanGee (1)
--snip--

I think there is a tiny difference between minting and transactions and the price those things fetch on the market.
While Bitcoin maxis would have little interest on how much a monkey is valued in some fake auction, what most here are concerned is the amount of "spam" those things do, and if you look at the statistics:

% of BTC Transactions
https://dune.com/queries/2432967/3996835


Number of BRC-20 Inscription Minted
https://dune.com/queries/2433706/3998316


Not that much has changed, one might say it's even worse.

It's also worth to mention pace of UTXO growth remain unchanged since Ordinal-based token become popular[1]. Few months ago i mentioned massive UTXO growth at ~102.5 million UTXO[2], but now we're looking at 119.9 million UTXO[1].

[1] https://statoshi.info/d/000000009/unspent-transaction-output-set?orgId=1&refresh=10m&from=now%2Fy&to=now
[2] https://bitcointalk.org/index.php?topic=5452159.msg62363628#msg62363628