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Bitcoin NFT Ordinals

 


Hello, this is Stay.

Recently, Bitcoin NFTs have become an issue in the community.

It can be difficult to adapt to the rapid pace of the cryptocurrency market's meta.

Since I haven't experienced it myself, I will introduce it through articles that have been organized.



The post was shared on the Crypto Check (formerly known as Klay Check) channel.

https://t.me/KLAYcheck/10584


Bitcoin NFT - Ordinals

  1. Ordinals = Bitcoin NFT, can be understood as such
  2. All data is recorded on-chain, making metadata modification impossible, thus activating the Bitcoin network
  3. Thus, the ordinal number is important, with around 30,000 created so far
  4. Only ordinals with numbers below 10,000 are currently seeing significant trading activity
  5. The ordinal number is the order in which it was created on the Bitcoin network, not specific to a collection like traditional NFTs
  6. Currently, the ordinal ID is more important than the image quality
  7. High entry barrier due to lack of information and knowledge about Ordinals
  8. Escrow is guaranteed by the founder, allowing trades to be completed through ORC ledger even without an Ord wallet (using Excel, etc.)
  9. Misinformation about Ordinals is common due to lack of knowledge about it
  10. Escrow serves as a neutral third party for trusted transactions, similar to Naver Safe Trade.


The following post was shared on the "박주혁" channel.
https://t.me/juhyukb/545




  1. The market's attention is shifting towards Bitcoin NFT Ordinals.
  2. Collections that aspire to become "cryptopunks" of Bitcoin are emerging.
  3. One of the most representative collections is Ordinals Punks, which has currently risen to about 3BTC.
  4. There is still no proper interface for trading Ordinals.
  5. OTC trading of Ordinals can be observed on platforms such as Discord.
  6. The image shows a transaction being conducted via Google Sheets.
  7. Projects bridging Bitcoin are emerging.
  8. "On the Edge of Oblivion" is one such project that has seen a public minting price of 0.015 ETH rise to 2.1 ETH.


  • - The current market is very interested in Bitcoin Ordinals NFTs.

  • - A project that moved from Ethereum to Bitcoin showed a significant increase in its value.

  • - Trading Bitcoin Ordinals is done through ledger transactions.

  • - Only the front number of the ordinal holds significant meaning.

  • - Access to Bitcoin Ordinals is difficult.

​

Bitcoin Ordinals NFTs:

  • 1. Require over 500 GB of blockchain syncing time.

  • 2. Come with inconvenient wallets.

  • 3. Require gas fees for transactions.

  • 4. Have slow transaction speeds.

  • 5. OTC trades come with risks.



Here's a tweet that came up right away when I searched for "Ordinals" on Twitter:

"Where there's money to be made, people flock, and where people flock, scammers are always present.... If you want to give it a try, you can refer to the Twitter thread below: https://tinyurl.com/2c4lc287"


If I were to participate, I would focus on NFT projects that can be transferred to Bitcoin.


An operating channel

https://t.me/stay_news

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