BRC-20 FAQ: All You Need to Know About the New Standard on the Bitcoin Blockchain
A1: BRC-20 tokens are an experimental token standard on the Bitcoin blockchain, modeled after Ethereum’s ERC-20 tokens. They allow programmers to create and send fungible tokens via the Ordinals protocol. BRC-20 tokens have gained popularity in the crypto ecosystem, particularly with the rise of memecoins.
The BRC-20 experiment.
A9: As the BRC-20 token standard is still relatively new, its future outlook is uncertain. The recent rapid growth in market capitalization and transaction volume indicates strong interest in BRC-20 tokens, particularly in the memecoin sector.
and
have fun!
Ordinals and BRC-20 will disappear in a matter of months, JAN3 CEO says
https://cointelegraph.com/news/ordinals-and-brc-20-will-disappear-in-months-jan3-ceo-says
This is the typical naive POV that everything must make a profit - attacks can cost money, the profits being elsewhere.
and the interview
mmm... avoids the long-term dangers of extreme chain bloat and costs.
"it will fade away" is not a strategy - just maxi-hopium.
The first and most popular BRC-20 token is ORDI, which started as a meme but now has a market cap of over $500 million. Other BRC-20 tokens include VMPX, MEME, BANKBRC, and PEPEBRC, which have been listed on Gate.io, the first exchange to support BRC-20 trading.
https://www.binance.com/en/feed/post/502991
also useful
The Difference Between NFTs and Bitcoin Ordinal Inscriptions
https://trustmachines.co/blog/difference-between-nfts-and-bitcoin-ordinal-inscriptions/
plenty of other articles.
This one better, as huge confusion between the two terms.
https://www.galaxy.com/research/whitepapers/bitcoin-ordinals-inscriptions-5-billion-nft-market/
BRC-20 tokens lose 600 million in market cap within four days
https://cryptoslate.com/insights/brc-20-tokens-lose-600-million-in-market-cap-within-four-days/
Not exactly surprising given the stated limited trading potential of these BRC-20s. They are nothing more than proof of concept - for now.
Op-Ed: Don’t believe the hype: BRC-20 is shitcoins on Bitcoin, the new fool’s gold
But s the BRC-20 creator has stated, these tokens are worthless, but the experiment is valid IMO. We shall see the next step, whether a true Bitcoin-L2 can really be feasible and viable.
Now... shall we see Bitcoin parachains!?
interesting, but be careful with the current limitations.
BTC daily txns currently approx 600k.
So if all are inscriptions, that will take approx 150 days to use up 1 BTC.
Not yet a huge drain on liquidity, but...
https://ycharts.com/indicators/bitcoin_transactions_per_day
huge spike up since inscriptions invented!
I see this as an attack vector ;-)