Bitcoin community are in support of BRC20

[Oshosondy]

Can you see the mempool? Very congested.

Who are the ones pumping SATS and RATS? I can see CATS on Polonix pumped 400% today. Probably they will bounce on it to pump it more.

You know the funniest thing? No presale, no social media, no advertisement for these tokens.

SATS pumped almost 10 times in 2 weeks. Having over $1.75 billion now in marketcap.
RATS almost pumped 30 times in 3 or 4 weeks
CATS pumped 4 times today.

Who are pumping them? I do not want to believe it is not bitcoin people.

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[pakhitheboss]

Can you see the mempool? Very congested.

Who are the ones pumping SATS and RATS? I can see CATS on Polonix pumped 400% today. Probably they will bounce on it to pump it more.

You know the funniest thing? No presale, no social media, no advertisement for these tokens.

SATS pumped almost 10 times in 2 weeks. Having over $1.75 billion now in marketcap.
RATS almost pumped 30 times in 3 or 4 weeks
CATS pumped 4 times today.

Who are pumping them? I do not want to believe it is not bitcoin people.

Yes, it has been congested from the day ORDI got listed on Binance. Yesterday or day before they again listed 1000sats which resulted in a major congestion in the network again. Binance may list more of them in the future that is what causing the insane pump. If the congestion keeps on continuing in the same manner small investors won't be able to buy Bitcoin.

[criptoevangelista]

Speculators, everything goes down in price when the market starts to get irrational. I don't have the courage to buy these random coins and I always miss out on these opportunities. Where can I follow this news about new random coins? next time I will buy about 10 USD to speculate

[avikz]

Who are pumping them? I do not want to believe it is not bitcoin people.

I smell a rat here! The pumping can be done by mostly the speculators. But it can be done by the supporters of bsv token and other competitors. No one really knows! But one thing we all know that, if this madness is not stopped, Bitcoin is going to lose any competitive advantage it has gained so far. Because those who transact regularly using Bitcoin, they would obviously look for cheaper options for their daily cryptocurrency transaction. Bitcoin will remain as an investment only.

[Lucius]

@Oshosondy, I agree with you in one part, because although some object to what is happening and say that something should be done, I think that the majority who are only interested in profit have nothing against all this. Some of them will easily say that you should use some altcoins and thus avoid big fees, because Bitcoin is not what it was in the beginning anyway.

Some others say that any prohibition of these transactions would be a form of some kind of censorship, which would later open the possibility of censoring individual transactions, as if some mining pools do not already do this or have not already tried to go in that direction.

Read this topic and maybe some things will be clearer to you.

[BRINIRHA]

Seeing how the current bitcoin transaction fees are in Mempool is quite suffocating. In fact I don't think the brc-20 hype will end any time soon. In fact, it is possible that others will appear that will make transactions increasingly dense on the Bitcoin network, causing costs to continue to increase rapidly. Even now, Binance continues to list coins on the Brc-20 network one by one. Which of course will make the hype for Brc-20 continue to grow. And it's possible that the community that likes Brc-20 will increase too. And last long enough that bitcoin transaction fees will continue to be as they are now or even become higher.

[ABCbits]

Who are the ones pumping SATS and RATS? I can see CATS on Polonix pumped 400% today. Probably they will bounce on it to pump it more.

You know the funniest thing? No presale, no social media, no advertisement for these tokens.

I did quick search and found they has some presence. Few example,
twitter.com/ratsonchain
medium.com/@ZephyrZenith883475f/rats-ordinals-rats-coin-airdrop-c%C3%B3mo-calificar-y-reclamar-token-airdrop-14784146ec57
finance.yahoo.com/news/bitget-lists-ordinals-based-rats-151904353.html

Although it's not much and there's always possibility they spread words on place which isn't indexed by google search such as Telegram group.

Who are pumping them? I do not want to believe it is not bitcoin people.

I have a question, what qualify someone to be bitcoin people? Just owning Bitcoin?

[Oshosondy]

I have a question, what qualify someone to be bitcoin people? Just owning Bitcoin?

I am referring to those early adopters, miners and developers. Two developers surfaced on the news about how Ordinals and BRC20 tokens are spamming the mempool and that they should be removed, but there are still others developers that will support it. I do not believe anymore that Ordinals existence which some people called vulnerability was not knowingly introduced by bitcoin developers. It is now too late, there is nothing that can be done than to work on how to reduce mempool congestion.

[Solosanz]

I am referring to those early adopters, miners and developers. Two developers surfaced on the news about how Ordinals and BRC20 tokens are spamming the mempool and that they should be removed, but there are still others developers that will support it. I do not believe anymore that Ordinals existence which some people called vulnerability was not knowingly introduced by bitcoin developers. It is now too late, there is nothing that can be done than to work on how to reduce mempool congestion.

That was the true decentralized market, anyone can use Bitcoin network.

If you want to remove transactions related to ordinals, that means you're accepting censorship, I disagree with that since censorship is a part of centralization. What if in the future miners are agree to censor transactions related to gambling because gambling is a sins? censor coins from mixers because it's money laundering?

Most of people who own Bitcoin are only care with profit, that's why they hold their coins in CEX. So it doesn't matter for them to join the ordinals since they have an opportunity to make more money.

[fuguebtc]

Bitcoin community are in support of BRC20

I don't know who created these tokens but I have been following the BRC20 trend for the past few days to make profits and as far as I know, Chinese speculators are the ones behind the recent pumps of BRC20 tokens. Although bitcoin was not created as an investment or speculation, it is clear that the majority of those participating in this market are looking to make a profit. There are not too many people aiming to support the bitcoin revolution without any benefits. And BRC20 is generating huge profits so I believe that even though many people complain about bitcoin transaction fees, they still quietly invest in these meme tokens. Because no one criticizes money.

[Darker45]

That there have been pumps recently of these Ordinals inscriptions doesn't necessarily mean the Bitcoin community are in support of BRC20. There seems to be something fishy about these sudden pumps, and even about the level of success achieved by Ordinals in general. But I don't think that these tokens aren't promoted on various social media platforms and other sites. Creations such as these cannot just succeed without hype and even misleading promotions.

[MusaMohamed]

Who are pumping them? I do not want to believe it is not bitcoin people.

It is like meme coins on Ethereum or other altcoin blockchains. People are always greed and when they smell chances to get profit, they join a risky game. Even they know it is risky, they will do join it because they can not control their greediness.

I don't see your topic has anything leads to a conclusion that "Bitcoin community are in support of BRC20".

There is a proposal of LukeJr and Jack Dorsey to eliminate Ordinals, Inscriptions on Bitcoin blockchain. There are many people who will not support this proposal like Bitcoin miners and centralized exchanges.

[Aanuoluwatofunmi]

Can you see the mempool? Very congested.

Who are the ones pumping SATS and RATS? I can see CATS on Polonix pumped 400% today. Probably they will bounce on it to pump it more.

You know the funniest thing? No presale, no social media, no advertisement for these tokens.

SATS pumped almost 10 times in 2 weeks. Having over $1.75 billion now in marketcap.
RATS almost pumped 30 times in 3 or 4 weeks
CATS pumped 4 times today.

Who are pumping them? I do not want to believe it is not bitcoin people.

Just as it is believed that we have some reputable numbers of bitcoin whales here on this forum, it won't be a surprise if some of them were still taking their time to make an investment on altcoins after bitcoin, this is all about money we are talking about and people are doing tht pretty well to make money from it, now to the risk of every of their Investors on wether to risk Investing or not, but their market cap and market vol is more convincing to be real and those behind these coins may be from here or not, just as we cannot be too sure of others, everything is just under risk for us and them as well if we invest on them.

[Fundamentals Of]

Not the entire Bitcoin community, but the Bitcoin community is not one solid group of like-minded individuals. The community is also made up of launderers. Many of these NFTs including these new kinds of NFTs on the Bitcoin network are probably used by a number of money launderers.

Miners are also part of the community. There are probably many miners who strongly support the growth of Bitcoin NFTs because it benefits them. And then there are also those who are in the community to speculate and make money.

But the sad thing is that part of the growth of this damaging development could be attributed to people who don't belong to the community. They just want to give the members of the community a hard time.

[Beparanf]

Who are pumping them? I do not want to believe it is not bitcoin people.

This is what they called Aping. Buying tokens without doing research as long as it’s on hype. This is very common scenario on BSC and ETH when meme coin become popular. People is pouring tons of money on a project without researching and just following the hype of the social media influencer promoting it.

Shitcoins doesn’t need to do much marketing if the project is on hype on this case BRC20. Crypto investors is insane when it comes to hype investment due to the potential profit short term.

[libert19]

It's like ICO and airdrops hype back in 2017, no substance but still value. I came across few Twitter threads suggesting brc20 coins, and to dive into them but they looked literal shitcoins, and one even blatantly saying, buyers are exit liquidity for them.

People are still buying for profits, and they are getting profits, checked few coins and they are as much as 400x, can you believe?

[Antotena]

Can you see the mempool? Very congested.

Who are the ones pumping SATS and RATS? I can see CATS on Polonix pumped 400% today. Probably they will bounce on it to pump it more.

You know the funniest thing? No presale, no social media, no advertisement for these tokens.

SATS pumped almost 10 times in 2 weeks. Having over $1.75 billion now in marketcap.
RATS almost pumped 30 times in 3 or 4 weeks
CATS pumped 4 times today.

Who are pumping them? I do not want to believe it is not bitcoin people.

When they whales don't have a new trend, this are the kind of trend they enjoy but I don't blame them at all, I blame the community for allowing such thing to thrive on the bitcoin network and when trace the source of this madness, it is the miners hand work. They are the ones gaining from this shitcoins and I don't know why the maxis that has always trash other altcoins as shitcoins have not channel the same energy for these consensus spams that has been happening around the bitcoin network.

It is only a matter of time before they fade, they are only money making shitcoins that will soon be abandon but I know for a fact that it wouldn't last because what will these coins do as an adoption to people, not that they can actually do anything just hype and making bad reputation. If only the nodes can reject this inscriptions and these spams but they will say the network is turning to centralization but I think it is for the benefits for all and not some specific people that want to make money to cause attack on the bitcoin network.

[Faisal2202]

SATS pumped almost 10 times in 2 weeks. Having over $1.75 billion now in marketcap.
RATS almost pumped 30 times in 3 or 4 weeks
CATS pumped 4 times today.

Who are pumping them? I do not want to believe it is not bitcoin people.

In my POV, these are shit coins, I always go against ordinals, like in talking ways, like I am going now. I am not a developer so I can make efforts to solve this ordinals problem but I am an ordinary person who have learnt that what potential and threats does ordinals have, shich is zero for potential and 100 as threat to BTC blockchain.

You might say, the potential is not zero as you mentioned they have gave huge returns but I am more like talking about use cases, which these coins dont have any, or some person with huge amount of money can dump and pump the price of these ordinals easily.

Well, jus to stand a point, I am a member of bitcoin community but I dont accept ordinals and even never bought a single coin just for the sake of money. Those who have helped these coins to pump hard are the ones manipulating its price and are after money. They don't care about BTC and its potential.

[franky1]

if only the SEC had a IT department that could read code and realise that ordinals data does not assign a genuine output to its junk in blockdata thus does not pass the test of a transferable token. thus making ordinals a ICO scam. then they could go after the platform that sells this junk (charging CZ and binance once again) and inferring any and all buyers/sellers can be legally implicated. maybe then this junk would stop (in its current form)

[jrrsparkles]

Who are pumping them? I do not want to believe it is not bitcoin people.

Bitcoin investors to be precise because the term investors itself has the answer for it, they are here to make money so they will be happy to take it whether it's from shitcoin or congesting the Bitcoin mempool for months. This is stretching more than I expected but it won't last forever unless exchanges supports more of these shit tokens from brc20 by listing them.