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958 sats \ 6 replies \ @petertodd 19 Nov 2023 \ parent \ on: deleted by author bitcoin
No it doesn't. I don't think activity like this is sustainable. BRC-20 is basically only used for scams, and the supply of suckers isn't infinite; notice how hype around inscriptions has died down. Hysteria around it "breaking Bitcoin" seems to have been part of the marketing too, which is a gimmick. This also may be an intentional attack on Bitcoin, with the BRC-20/inscriptions/etc part being just cover.
hahaha check this out
One sats sold for 3.5BTC LOL
These people are insane.
https://primal.net/e/note1pwzlj40zr0vv7kpx9ux6ph0xm7z08gf5drglufj43yxkj0kykmvse6eq9q
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How do we know its not the same person? (washtrading?) Back in the days tons of shitcoiners were doing that with NTFs to artificially inflate the prices.
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This.
Ultimately we don't know. A lot of this BRC-20 activity could be fake. Possibly almost all of it.
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could be, but that doesn't mean other idiots will not buy it from him... for even more BTC
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It's a win for me either way.
- Idiots sell their bitcoin for worthless BRC-20 shitcoins.
- Those who mint these shitcoins are paying exorbitant premium fees.
- Miners are content with the increased fees.
- When a sat-stacking turbo mode toxic maxi acquires these sats, they are essentially removed from circulation, resulting in reduced liquidity.
- Once overall liquidity gets low enough, the fun begins.
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Also: we learn how to deal with high fees, as well as unpredictable fees.
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