Finally ORDI crashed 10%, maybe the 56$ were really the top. SATS and others are already falling for some days. But we had such crashes before, so I'm afraid they could try another pump.
Conspiracy theory: it's the miners who orchestrate the ORDI pump to not only lure people in and try to profit from the pump-and-dump, but also for them to inscribe new tokens and rise the fees.
Unfortunately, this would not fix the "bug", as I have explained multiple times. BRC-20 transactions, which are causing the congestion, aren't bigger than normal transactions with a handful of inputs/outputs (they have about 400-500 vByte plus another 110+ vByte for the commit transaction). They are an inefficient protocol with several WTF decisions (like storing data as text, and needing two transactions for a transfer), but not even that is the problem, the problem is their amount due to the "minting" hype. Big inscriptions, which should be dropped from the mempool by Luke Jr's version, aren't the problem anymore.
If the situation continues miners will have their best christmas ever
Conspiracy theory: it's the miners who orchestrate the ORDI pump to not only lure people in and try to profit from the pump-and-dump, but also for them to inscribe new tokens and rise the fees.
That aside, Luke Dash Jr. released a new version of Bitcoin Knots, "fixing" the bug called Ordinals.
Unfortunately, this would not fix the "bug", as I have explained multiple times. BRC-20 transactions, which are causing the congestion, aren't bigger than normal transactions with a handful of inputs/outputs (they have about 400-500 vByte plus another 110+ vByte for the commit transaction). They are an inefficient protocol with several WTF decisions (like storing data as text, and needing two transactions for a transfer), but not even that is the problem, the problem is their amount due to the "minting" hype. Big inscriptions, which should be dropped from the mempool by Luke Jr's version, aren't the problem anymore.