Bitcoin Ordinals Increasing Block Sizes, Making BTC Mining Profitable
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Bitcoin Ordinals are having a huge effect on BTC block sizes and BTC mining profitability. Over 200,000 NFTs were minted on the Bitcoin blockchain last month which created $1.35M in transaction fees on chain. Grab the best mining rig here - https://voskco.in/evg
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Bitcoin (BTC) Ordinals are NFTs on the Bitcoin blockchain. BTC has been boring for years so it’s been exciting seeing the hype Ordinals has brought to the chain. However, not everyone agrees, including the devs. Until now, bitcoin block sizes and activity was pretty stagnant, but now block sizes have doubled and transaction fees have increased, increasing bitcoin miner profitability. This is all controversial and it’s early. In today’s video we’ll talk about how Ordinals have effected bitcoin mining profitability, how to mint an NFT with Bitcoin, and more!
Tails is an NFT! https://gamma.io/inscription/63f710fbc33c4f7dd8082622c41907f2b1a70d8229f0bcc4c6a479f720c45c72i0
BTC Ordinals Could Make or Break BTC - https://youtu.be/sG4g68m-ZXA
What BTC Miners Need to Know About Ordinals - https://youtu.be/EE7mAx5NH-E
What are Ordinals? - https://decrypt.co/resources/what-are-ordinals-a-beginners-guide-to-bitcoin-nfts
Bitcoin Block Size Chart - https://bitcoinvisuals.com/chain-block-size
Bitcoin Average Block Size - https://www.blockchain.com/explorer/charts/avg-block-size
Miners made nearly $600k from Ordinals - https://cointelegraph.com/news/bitcoin-miners-made-nearly-600k-from-ordinals-nft-transactions-in-two-months
Timestamps!
00:00 Ordinals are having a huge impact on BTC profitability
01:29 Ordinals give $1.35M to BTC transaction fees in February
02:20 Bitcoin Average Block Size is near its limits!
04:25 Ordinals are making transactions more expensive
05:15 How can you create an Ordinal?
07:51 My thoughts on Ordinals
10:13 Thoughts on the market and crypto in general
VoskCoin is for entertainment purposes only and is never intended to be financial investment advice. VoskCoin owns or has owned cryptocurrency and associated hardware. VoskCoin may receive donations or sponsorships in association with certain content creation. VoskCoin may receive compensation when affiliate/referral links are used. VoskCoin is home of the Doge Dad, VoskCoin is not your Dad, and thus VoskCoin is never liable for any decisions you make.
#VoskCoin #bitcoin #btc #ordinals #btcordinals #bitcoinordinals #halving #cryptocurrency
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