Post
Topic
Board Development & Technical Discussion
Merits 2 from 2 users
Re: NFTs in the Bitcoin blockchain - Ordinal Theory
by
GreenPanda
on 20/11/2023, 23:32:08 UTC
⭐ Merited by JayJuanGee (1) ,philipma1957 (1)
Anyone else heard of the Sophon bot that snipes brc-20 in the mempool and front-run them?


Front-run them? By paying higher on-chain fees? That would absolutely make the fees higher and the network more congested, no? He's not making the situation better for the users in general in my opinion.

Quote

Looks like this was the reason why we had an inscriptions break last month...

https://decrypt.co/205377/a-bitcoin-devs-bot-bucked-brc-20s-now-he-might-share-the-sophon-with-the-world


Is it currently running? Because it could also be the reason why we're having record-breaking fees. Perhaps it was better to let users use the blockchain?

¯\_(ツ)_/¯



From what I heard and read in the article, it doesn't just front-run the brc-20 in the mempool, it changes also the mint amount to 1 which "grief" the would be token and make it useless. It seems that it is what caused the rapid decline in the mempool size from september 24th to october 2nd. In the article, it says they bot lacked funds to operate around october 23rd which is where the inscriptions started again.

So no, in theory, it is not currently running, hence we experience inscriptions spam.