Read on to learn about Bitcoin's new fungible token standard 🧵
2/ On January 20th, 2023 @rodarmor released the Ordinals Protocol to the world. He had found a way to index every single sat (the smallest denomination of a Bitcoin) and track it throughout the Bitcoin network.
3/ The Ordinals Protocol allows you to inscribe any type of file on-chain on Bitcoin. That inscription points to a sat which tracks its ownership so what you end up with is a fully on-chain Bitcoin NFT.
1/ You hold $PEPE but do you know about Pepe's blockchain beginnings on Bitcoin?
Let's go back to 2016 🧵
2/ On September 9th, 2016 the first Rare Pepe card was issued on Bitcoin via a platform called Counterparty by Mike (@myrarepepe), and the cryptoart movement was born.
3/ Pepe memes were already very common on the internet by this point. The innovation that Mike had was realizing that you could tokenize them and thus make them "rare".
1/ I just acquired ordinal inscription #53 for 4 BTC (57 ETH). It depicts Bitcoin’s first logo, created in 2009 by Satoshi himself.
Read on to learn more about the history of Bitcoin’s logo 🧵
2/ March 2009
The original Bitcoin logo, designed by Satoshi, appears in an early Bitcoin software tool. It depicts the characters "BC" engraved on a gold coin. Skeuomorphism (where an object in software mimics its real-world counterpart) was quite popular at the time.
3/ February 2010
Satoshi posts a redesign of the logo on Bitcointalk which replaces the “BC” text with “₿”. It was quickly accepted as the new official logo for Bitcoin.
1/ Why I just spent 2.5 BTC (35 ETH) to acquire inscription #69 🧵
2/ My thesis is simple. I want to place a long-term bet on the future of the ordinals protocol and buying a sub-100 inscription is how I'm doing that.
3/ The first 100 CryptoKitties are known as "Founders" and they are the most coveted in the collection. The first 100 ENS digits (69.eth, etc.) command the highest premium. Collecting low digits or "firsts" is just basic human psychology.
1/ Why I just spent 3.25 BTC (45 ETH) to acquire these 2 alien and 6 ape punks on Bitcoin.
(and why I’m excited about ordinals)
🧵
2/ To put it simply, I’ve fallen in love with the ordinals protocol. It’s elegant, opinionated, and strives to bring digital objects to Bitcoin in a way that honors its ethos and values. I got to meet the founder back in September and am so proud of him.
3/ For those who don’t know, every Bitcoin can be subdivided into 100,000,000 satoshis. Recently, @rodarmor found a way to associate a unique number with every satoshi so that they can be individually tracked and transferred.
🐼 The Merge
🌊 The Surge
🧟 The Scourge (new ✨)
✅ The Verge
🧹 The Purge
🎩 The Splurge
2/ The Merge 🐼
Goal: Have an ideal, simple, robust, and decentralized proof-of-stake consensus.
Changes: With PoW now behind us, SSF (single slot finality) is the new "stage 2 Merge" milestone.
Description: Improvements to the current mainnet PoS consensus mechanism.
3/ The Surge 🌊
Goal: 100,000 transactions per second and beyond (on rollups)
Description: This is how we scale Ethereum and achieve 1-cent transactions which will unlock lots of new use cases. Good for L2s like @optimismFND, @arbitrum, and @zksync.