Someone earn millions a month, and someone don’t know what BTC inscription is?

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18 Jan 2024

The wealth creation effect of the crypto market is huge, and from time to time, a player will leave the market with a lot of wealth.
For example, last week a player purchased 20.5 million Silly for 0.7 SOL ($43 at the time) in early December. As Silly skyrocketed, he earned $1.55 million in 2 weeks.
The current price of Silly is US$0.12. Silly is the inscription on the SOL chain, and the increase is astonishing. As the price of SOL rises, Solana ecological inscription is also in full swing.
Silly Price Chart Increase
The inscription market continues to be hot, mainly because from time to time there are stories about the wealth of a certain group of friends, which makes players become more and more interested in it, and more and more followers follow.
Inscriptions on various public chains are also continuing to come online, and on-chain inscriptions are being deployed. Inscription adopts fairmint method, everyone can participate, there is no whitelist, no lock-up, as long as you pay a certain gas fee.
The excitement of the inscription market has also changed the way tokens are minted and issued. There are no private placements, public sales, or airdrops. Everyone is on the same starting line. Of course, there are also situations where the chain is too congested and the casting fails because others give higher gas and are cast to the chain first.
The first inscription deployed on the chain was ORDI. In the past two days, ORDI exceeded $82.9, reaching a record high.
ORDI’s new high has driven the entire inscription market, and various brc20, spl20, erc20, bsc20, etc. have followed suit.
The market fluctuates rapidly, and the market prices are calculated on an hourly basis. You may make a profit in the morning and then lose money in the afternoon. If you do short-term swings, you may not be able to pay enough for gas, and you cannot respond quickly.
Inscription information on different public chains
Some people easily earn millions of dollars in the inscription market, while some people still don’t know what inscription is and how to play it; some predict that inscription will be the next hot spot in the bull market, and some people have not even found the entrance to inscription.
There are barriers to market information for most people, and those who cross the barrier see more; those who are trapped do not know where the way forward is.
The first inscription was deployed on the chain in March. The market has been baptized for more than nine months, and I have become more and more familiar with the inscription gameplay.
What is an inscription? The popular understanding is to engrave information on Satoshi, the smallest unit of Bitcoin, such as writing ordi, sats and other texts. These texts are brc20, and some are engraved with pictures, which are Bitcoin NFTs.
BRC20 was originally just an experiment by a technical expert and had no value. However, as more and more people participated, a consensus was formed, the price also drove up, and it continued to be spread.
Those who are optimistic about the development of Inscription believe that Inscription has changed the way tokens are distributed, is truly decentralized, is built by the community, and can bring new prosperity to the Bitcoin ecosystem;
Those who are not optimistic about inscriptions think that inscriptions are just garbage on the chain, and casting a bunch of meaningless tokens will not bring changes to the ecology, but will only make the Bitcoin network more congested.
At present, everyone has their own opinions. No one knows in which direction the market will develop. Time will give the final answer.
An intuitive explanation of what an inscription is
The market believes in the myth of wealth creation, and some people are willing to take a chance on opportunities that are ten times or a hundred times greater.
These early minted brc20s were given various stories and gimmicks as the holders actively spread them, and some established consensus. For example, Ordi is the first BRC20, which is of commemorative significance. It is the first on the track and has been spread.
There is also a huge number of sats, with a total supply of 2100 trillion, which is currently used by unisat as a platform for transaction gas fees; the gas fee for early casting was low, only a few dollars, and casting 100 million sats was almost cost-free.
The current price of sats is 0.0000007. In the early days, billions of them could be minted for $100. After the spread spread out of the circle, the price of sats also increased; the income of early inscription players also hit new highs with repeated spreads.
There are also animal brc20 tokens such as rats, cats, fish, etc., all with prices and popularity.
According to unisat data, there are 118,966 brc20s deployed on the chain, of which 74,046 are still being minted. With so many brc20s, most of them have no fomo out of the circle, no spread, no one to participate, and no liquidity.
Players who enter early will fairmint a large amount of tokens, and players who enter later will spend a certain amount of money to buy, and the market will rotate.
It is impossible to predict whether latecomers will stop taking over, or whether the market will give these brc20 more functions and make the Bitcoin ecosystem prosper.
What is BTC inscription?
These are all things that are happening in brc20. Some people are making a lot of money through inscriptions, but some people still don’t know how to make inscriptions?
Only by understanding what is happening now and seeing market dynamics better can you participate in real trading. In the end, will brc20 return to zero, or will there be a new narrative? There is huge uncertainty, and risks and benefits coexist.
A few days ago, I heard a big boss in the group say that the currency circle is the only place where ordinary people can get rich without relying on abilities, connections, background and other conditions. The ultimate opportunity! It is normal to miss it. First, no one will tell you! The second is that you don’t believe it!
Most people will miss the opportunity, maybe because they don’t know it, maybe they understand it but don’t believe it, and finally miss it.
It’s impossible to predict what’s going to happen, but the market is crazy every day.
The above is just my personal opinion, no investment advice. I am CryptoLola, and I am paying attention to the encryption market and web3.

Btcinscription
Ordi
Brc20

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