If Riot had mined for the entire month instead of selling power back to the grid they would have mined ~580 BTC. By selling power back to the grid they earned an additional 177 BTC worth of value. That’s 30% more revenue! I don’t think people fully appreciate the strategy here.

Excited to announce I’ve accepted an offer to join Galaxy Digital’s #Bitcoin mining team! I couldn’t be more thrilled!

For the same price of a single floor @cryptopunks you could buy 1 of each of the following on ordinals 1. @nodemonkes 2. @quantumcats 3. @OrdinalMaxiBiz 4. @BitcoinPuppets 5. @BitcoinFrogs 6. @lifofifo Wizard of Ord 7. @TO pizza ninja 8. @OnChainMonkey And still have about ~0.27 BTC left Even on a risk adjusted basis that’s incredible opportunity and you’d be sufficiently diversified if you believe in the long term value of blockchain based collectibles. Bitcoin Ordinals are incredibly mispriced relative to their potential upside.

S9’s marginal cost of production is at about breakeven right now with 5 cent per kWh cost of power. I think we’re pretty close to seeing S9’s start to shut off.

Some thoughts on why ordinals are underperforming vs testnet NFTs TLDR: The market is still not convinced that bitcoin and ordinals will be the biggest market for onchain art and collectibles for a number of reasons and the problems are more structural and no amount of stimulus from airdrops will be the solution. Reasons 1. There’s been a lack of new artwork and artists putting out work on Bitcoin because it’s expensive and because of the 4MB file size constraints. While you can use recursion to inscribe your files this is required advanced knowledge and is a massive point of friction vs testnet NFTs and ipfs. 2. Ordinals are still severely lacking in infrastructure support. The primary hardware wallets still do not provide native ordinals support. This is a must for most collectors and especially for any kind of institutional or corporate collector. If bitgo or coinbase custody offered ordinals custody solutions it could open the doors for corporate collections. 3. Ordinals are lacking in utility and experiences. How can we go beyond simple discord gating / verification to provide interesting community based experiences, or gated website experiences. There’s also still a lack of ordinals support within digital gallery experiences that could help with virtual exhibitions that may resonate with the traditional art community. 4. Ordinals do not benefit from ecosystem harmony in the way that ETH NFTs do. The IP of projects like pudgy penguins, cryptopunks, and bored apes are nearly synonymous with eth maximalism. Ethereum projects, protocols, maxis and the ecosystem as whole recognize these projects as true cultural symbols for the chain. On bitcoin the vast majority of companies and self proclaimed maxis do not recognize ordinals in any way. The few that might are closeted due to perceived reputational risk of being an enjoyer. The polarization of ordinals within the bitcoin community, one holds back awareness and two poses challenges to outsiders conviction about ordinals and their longevity. 5. Bigger and established brands continue to experiment with NFTs on ethereum. We’ve yet to see a large brand like Gucci or Lamborghini or some high end brand that can bring eyes and attention either partner with an ordinals collection or inscribe their own collection on Bitcoin. The verdict is still out on whether or not Bitcoin will be the luxury chain for digital assets and how important being onchain (but with high friction and cost) vs offchain (low friction and low cost) is to collectors. Conclusion Of all of these aforementioned problems / challenges i think the two biggest are providing hardware wallet support and better custody solutions and two how to bring more artist to Bitcoin and reduce the frictions of inscribing. Bringing artist to Bitcoin is hard bootstrapping problem because artist want to go where there is a market and demand, and collectors want to go where there are artists so it’s a bit of a chicken and egg problem. I believe with time many of these challenges will be solved to a degree, but the catalyst for ordinals taking off is more deep rooted and not connected to airdrops like $ME that shillfluencers want you to think.

Excited to be joining @nakamoto we’re building something incredibly special! New beginnings call for fresh starts so new pfp, follow the frogs! 🐸

For retail miners denominating your ASIC purchase and cash flow in btc terms is a much easier way to determine your payback period and whether or not you should just buy bitcoin or mine it.

Added 1 more @nodemonkes to my collection What I really like about this one in is that it’s a mempool trait and the only 1 with the bash head trait making it a 1/1. The Pepe eyes trait also blends in nicely with body giving it a clean or pure aesthetic and lastly it reminds me of the home alone robber Joe Pesci.

All the metrics you could want in one table for all the most popular #bitcoin ASICS. Assumes 6 cent electricity cost and 33 cent revenue per TH.

Send Nodes

1/ Following the enthusiasm around the ordinals community after the @InscribingAMS conference. I’d like to share part of my collection publicly and why and how I approach collecting 👇 issuu.com/sub1k/docs/beezy_c…

I’m biased but I think I have some of the cleanest Pepe trait @nodemonkes in my collection 🖼️

Another reason why Ordinals and Inscriptions are superior to NFTs on Ethereum is that they bring for the first time objective value to digital collectibles. The first major objective value metric to inscriptions is their replacement cost value or the cost to reinscribe the work. As bitcoin increases in price and as fee levels rise so does the cost of reinscribing making some early onchain works of art potentially it irreplaceable. Overtime file size and type may become an important price discovery metric. The second objective value metric is the sat in which an artwork was inscribed on. With existence of rare sat marketplaces you can easily quantify that value of special sats like uncommons, rare sats and epic sats and some of these have tremendous value. Inscribing art on a rare sat could akin to etching your artwork into a rare metal like gold. While subjective value of the art will likely be the dominant driver of the overall value for the art the elements of rare sats, replacement cost value and numbering add important and new dimensionality to onchain collectibles. The market still has a long way to go from an education standpoint to fundamentally understand these nuanced aspects of the ordinals protocol vs. NFTs on ethereum. But I do believe these elements push the credibility and seriousness of digital collectibles forward especially when considering the critiques of the traditional art world against NFTs and IPFS pointers.

A short reflection in the midst of peak drama and a bear market @nodemonkes monke #8645 featuring deathbot body, deathbot eyes and an ordinal hat is one of my favorites in the collection. This monke has only ever been listed twice for 5 and 10 btc respectively. By studying the collection I was able to identify and acquire its close cousin monke #5693 which features the zombie eye trait instead, at the floor price during the time of acquisition. While not as rare or quite as unique as monke #8645 it is still a 1/1 in its own right. A lot of the fun in collecting inscriptions is trying to identify the subtle details or unique anomalies that exist within the art or collections themselves and curating your collection around your own perspective of what you’ve discovered within the art. Making money is always nice, but it’s important to remember to have fun and important to remember what inspired and captivated your spirit at the onset of the pursuit of something. In the early days of ordinals the essence of “what could be” and “how to do art onchain the right way” was invigorating and was a shared sense of inspiration among early participants. What’s missing most right now from the community is that shared drive or sense of purpose in the pursuit of a common goal which should be pushing the boundaries of “what could be” for onchain art as a movement and having Bitcoin be the prominent canvas that leads the onchain art renaissance. Support artists, support creativity, return to fundamentals, return to spreadsheets, 🧡✌️ #onchainart #ordinals #nodemonkes

I like the aliens 👽

1/🧵Are Ordinals Undervalued? Lets take a look through the lens of 3 different charts below 👇

Top 25 All-Time Sales for Inscriptions A few interesting observations: 1.) Early inscriptions dominate the high end of the market 2.) PFPs have dominated the high end of the market as opposed to Art 3.) Of the big 4 pfp projects NM, OMB, TW, and Bitcoin Puppets, NM has achieved some of the highest individual sales with strong deviations emerging among various traits in terms of value 4.) Ordinal Punks is a rather slept on collection but has achieved some of the best sales prices over a sustained period of time and is notably the first pfp collection inscribed on BTC 5.) We tend to see very brief windows of time of extreme bullishness where these high sales occur My final point, is I think it’s time to return to JPEGs, runes are dead for the foreseeable future, devs have to do something, influencers can’t un-fk it. Time to go back to our roots and let nature heal 🤙🏽

🧵 After spending some time looking at the @nodemonkes collection. I’ve discovered a new meta that plays to nodemonkes nod to Pokémon with the Monkedex and reinforces why i think the collection has the most collectibility on bitcoin. I call it the “Monke Evolutionary Curve.” 👇

Bitcoin has traded above $60,000 for 35 consecutive days and counting. Last bull market in 2021 Bitcoin’s longest streak above $60,000 was 21 consecutive days We’re not even at the halving yet, only 1% of people get the Bitcoin as a platform narrative, Barry is still dumping on us, the sales force behind the ETFs hasn’t hit full stride yet, the fed is planning rate cuts and there’s more The structural and fundamental catalyst behind #bitcoin are tremendous You’re not bullish enough anon open your eyes 👀

1/ Even through this extended bear market for ordinals, @nodemonkes @TaprootWizards @OrdinalMaxiBiz and bitcoin puppets have continued to dominate sales volume accounting for 58% of total volume in the last 30 days excluding metaprotocol collections like runestone, rsic and fsic

As a person who works in the bitcoin mining industry I’m excited to be able to collect the “Grid Balancer” Shroom from the @BitcoinShrooms collection which was inscribed in the first 1,000 inscriptions. Bitcoin shrooms is one of the earliest collections featuring original art paying homage to Bitcoin culture and was the first collection on Bitcoin to be auctioned through @Sothebys. More can be learned about this collection here: issuu.com/sub1k/docs/bitcoin…

I like the nodes @nodemonkes

Took some profits from runes and donated to become a whale sponsor on @mempool. Thanks for all you do to support bitcoin and I hope to see continued support and new features for all kinds of onchain activity, runes / ordinals / brc20 etc 🙏

🧵Through the recent run up in floor price for @nodemonkes and current period of consolidation we are witnessing emerging price discovery for rare and desireable traits. Read below to see an analysis & comparison to an established collection like cryptopunks 👇

Send Nodes and memes @nodemonkes

Study Art, Study Provenance 🖼️ #sendnodes

Runes bricked ordinals and ordinal liquidity if runes never happened ordinal floor prices would be higher, still down but higher than where they are now. Un-fking runes is the key to un-fking ordinals, tall task though

King of the mempool

Send Nodes

The funniest thing to me about all the recent twitter space drama in bitcoin is the hypocrisy of the people that run around saying “don’t trust but verify”, “not your keys not your coins” but literally outsource all of their thinking to the rhetoric and dogma of influencers and podcasters. Just because someone was early or right in the past doesn’t mean they’ll be right in the future, kill your heroes, think for yourself.

Excited to be able to collect this 2 matching trait Safemode @nodemonkes only 6 exist in the collection that happen to have both the Safemode hat and body trait and I think this one in particular is the best and most unique looking one.

A 🧵 The bullish case for $BTDR Bitdeer: 1.) Massive Power Pipeline Bitdeer is already the largest miner by MW’s energized with 895 MW operational spread across 6 sites, with total hashrate under management of 22.3 EH with the breakdown consisting of 7.3 EH to self-mining, 1.3 EH to cloud Hashrate and 13.8 EH dedicated to hosting. The company expects to energize a total of 1.1 GW of power in 2025 which are actively under construction. This includes 500 MW in Bhutan, 175 MW in Tydal Norway, 221 MW in Massillon, OH and 266 MW in Clarington, OH. This expected pipeline for 2025 far exceeds that of $IREN, $CIFR, $CLSK and $CORZ.

I like the goose 🪿 @goosinals @dmitricherniak oncyber.io/goosinals

MSTR stock proves the demand for assets that trade beta to BTC. MSTR in a way is basically a boomer version of a memecoin for Bitcoin maxis. The irony of it all is maxis love and appreciation for MSTR despite it being a pure degen play and to an extent a complete departure from fundamentals while absolutely despising ordinals and runes. There is tremendous demand for BTC beta, the instrument you use to get that exposure whether it be native onchain assets to bitcoin or and highly correlated stocks shouldn’t matter, different risk profiles, but it’s all in the same bucket. Energy should be spent trying to grow the bucket of financial instruments that people can choose to invest in to get a BTC correlated return. No need to hate a financial instrument, simply don’t buy it if you don’t like. To each their own.

🧵Time for an Ordinals and Top PFP Collections Market Update I have a series of charts and some final concluding thoughts for you all today Let’s Dig In 👇

My double laser alienate @nodemonkes agrees 🤝🖼️

Some thoughts on current discussion around ordinals vs NFTs First and foremost ETH maxis discounting the probability of ordinals tooling improving and ability to compete for mindshare and market share for blue chip blockchain based art and collectibles is your EV. Their ignorance is your land grabbing market opportunity. Being early to ordinals and understanding the social consensus that already exists around the top gen artists, pfp collections, and early inscriptions gives you an advantage. There are a lot of collections people are sitting on on bitcoin that people are waiting for market conditions and attention to improve but there are only a handful of projects that you can buy right now that have established some level of admiration. Given the tribal nature of blockchains and the crypto wealthy, I’m not convinced that collectors will be agnostic to which chain or protocol art was created on. Why would a bitcoin maxi want to flex using the provenance of an NFT on ethereum when assets on bitcoin exist with arguably stronger provenance. There’s also significantly more wealth within the bitcoin ecosystem not just from holders directly but also from Bitcoin based businesses such as publicly traded miners. The trend of the ETH/BTC chart also certainly does not favor ethereum holders nor ethereum based assets. If Bitcoin is the dominate asset, and Bitcoin holders and capital allocators are the wealthiest in the space, why would ordinals and Bitcoin native assets finish second best when it’s all said and done. Bonus: Covenants soft fork activation on Bitcoin can allow for a significant expansion in tooling and programmability of ordinals.

Publicly traded bitcoin miners are trading at a peer average value of ~$80 per TH on a EV/2022 hashrate basis. For context, @hashrateindex rig index suggests FMV of ASICs under 38 j/TH is $79.48. The market has been really punishing public miner valuations.

Matching Trait @nodemonkes are the Hidden Gems of the Collection a 🧵

Added to my @fomojis collection I like what @SanjFomojis and @SwayzeDigital are cooking

I’m excited to take the stage at the @TheBitcoinConf alongside @mikehamilton @RomainBTC and @cbspears some of my favorite folks in mining to discuss what miners think about ordinals

This is why ordinals and inscriptions on bitcoin are superior

6/ Concluding Thoughts for Ordinals Are ordinals dead…no I don’t think so, but it’s pretty gruesome out there There’s a few things I think we have to acknowledge: 1. Just because it’s on Bitcoin doesn’t mean you don’t have to compete: There is too much complacent thinking not just in ordinals but Bitcoin holistically that just because it’s on Bitcoin you can deliver an inferior product or experience and people will just deal with it. 2. Bitcoin is the chain for luxury assets narrative: This ties back into point 1, this has to be earned it’s not given just because something exist on Bitcoin. How the ordinals space represents and carries itself matters a lot to be able to attract brands, companies and top tier artists. The drama, in-fighting and existing narrow view of voices carrying the flag frankly isn’t very enticing. 3. The Circularity Problem: Ordinals needs to attract more artist, but artist need better tooling and want to see more market demand, but there’s no market demand because there aren’t enough artist making interesting work, and companies can’t build more tooling and infrastructure because they can’t raise the money to do so because there’s no demand. This is a massive challenge since ordinals lost its early momentum this can only be solved with some bravery and pioneering. I continue to believe the best way to jump start ordinals momentum again is to focus 100% of efforts on continuing to refine ord the protocol, adding new features and doing cleanup work / enhancements as well as continuing to build more tooling that makes it easier to inscribe, collect, discover and secure assets. @lifofifo work has been remarkable and he would have my vote for being the unsung hero of ordinals. I am also very excited for what @SatGoBTC and @xverse have been cooking and I’m glad @rodarmor is back in the saddle focused more on ordinals with @raphjaph that gives me optimism. The original mission was to build the best digital collectibles protocol and to do that on bitcoin, let’s stick to it, let’s get back to competing and I think the rest will fall into place regarding artists and collectors.

1/ A comparison of trait premiums in @cryptopunks and @nodemonkes. Some very interesting fundamental dynamics are shaping up with respect to taste and price discovery of traits in Nodemonkes even during this lull for the collection.

And we’re hashing with the S5!

100% pure awesomeness! Huge step forward in making lightning ⚡️ more accessible thank you @CasaHODL @lopp

1/ Since ordinals launched on mainnet I’ve been creating collection reports for various projects in the space, but mostly for sub1k collections. I think degeneracy is an unfortunate side effect of liquidity and ease of transacting and I think it’s unfortunate that these narratives / ideals overshadow much of the amazing creativity, thoughtfulness and technical innovation some artists and project founders have put into their work. My collection reports attempt to shine light on some of the creativity, history, and lore behind the projects in a magazine style format. I originally created these because I was longing for content that actually focused on the art and the interesting aspects of the work and I wanted to demonstrate that their is real substance to ordinals projects if you can look beyond the “buy my bags posts.” There are so many amazing ordinals collections with incredible backstories of how projects came to be and were inspired, my reports don’t even scratch the surface. As I have time I’ll try to make more, but hope to see others in the space take up the effort. All featured collections to date in my reports include @nodemonkes @ordrocks @OrdinalPunks @InscribedPepe @OrdinalMaxiBiz @TwelveFolders and a few other @sub1k_ordinals collections Link to view the reports in tweet below 👇

Having some fun @rune_coin

I think #bitcoin is one of the most interesting things in the world to be allocating time towards. Happy to be here experiencing and living through this incredibly unique moment in human history, as we collectively try to push the boundaries of money and this social experiment forward🫡

Top PFP Collections Across Bitcoin, Ethereum and Solana Ordinals have underperformed vs. top PFP collections on other unchains which could make them attractive from a relative value standpoint should we see another risk on cycle within the broader industry. Ordinals remain one of the few ways to make a BTC native beta trade. #ordinals

I’m excited to share my curated @nodemonkes gallery in @oncyber. I’ve been curating my collection since nodemonkes began trading on Magic Eden. To me NMs have the highest degree of collectibility on bitcoin due to the number and quality of traits. oncyber.io/beezynodemonkes

The state of runes

There will only ever be one inscription # 176

It’s always been about the art for me 🖼️

Just swept a complete set of @WorldPeaceCards with featured works from @viva_la_vandal @YungGucciT @TroyCaylak @BitGod21 and others honestly just love the vibe and it’s really fun to collect, reminds me of the old days, make ordinals collecting fun again

I may never financially recover from not buying a 1-trait @nodemonkes

I really enjoying scrolling through the OMB black eyes art amazing job @ZK_shark and @ohareyoufat so much to explore

A few new additions added to the gallery 1. Crown Pepe + Matching Gold Earring 2. Matching Pepe trait + Ordinal Hat 3. Matching Deathbot trait only 2 exist

As a big fan of the art of @nodemonkes collection I’ve delved deep into the traits and spent a lot of time analyzing the collection which inspired me to create this account to appraise the artistic prowess of individual monkes. Follow for insights or suggest a monke for review!

Goals for 2023, get a lot smarter on energy

Collection: @BitcoinShrooms Shroom title: “Grid Balancer” Shroom #: 48 Inscription #: 685 Background: The grid must always be in constant balance, as we increase the amount of intermittent load resources like wind and solar on the grid it can become more challenging to maintain balance during extreme weather events. Because bitcoin mining is a flexible load resource miners can participate in grid programs such as demand response and curtail their energy usage to help reduce peak demand and stress on the grid. Bitcoin mining will play a pivotal role in the US’ grid and energy transformation goals. The “Grid Balancer” shroom is a fantastic artistic depiction capturing the spirit and essence of this activity from miners and I am honored to be able to own it.

Less is monke

Excited to finally launch a new venture with @_amanda_fab, Second Gate Advisory! Check out the website secondgate.io/ and follow us @SecondGate_

🧵Bitdeer $BTDR currently trades at a deep discount to the value of the sum of its parts. Its 2.5 GW power pipeline and burgeoning ASIC manufacturing business puts it in a class of its own and could be poised to join the ranks of the big 4 public miners ( $CORZ, $MARA, $CLSK, $RIOT ) over the course of the next 18 months. Dive into why in my research note linked below: dropbox.com/scl/fi/okpxmlo6w… Disclaimer: Not financial advice dyor

Alongside @karimhelpme I’m happy to share our new article, Breakeven Hashprice where we introduce a methodology for how hashprice can be used to assess the breakeven thresholds for mining operations of all kinds even with diversified revenue streams. docsend.com/view/umcpm6vza4q…

1/ Businesses built on top of bitcoin’s lightning network will serve as downstream producers of bitcoin miners upstream production.

🧵Top PFP collections Across Bitcoin, Ethereum and Solana priced in BTC as of 2/14/25 Summary: Nobody wants bitcoin assets anymore after runes killed the vibe, so sad 🤷‍♂️ Floor Price Comparison Chart

All we need is for @elonmusk and Tesla to announce that their vehicles can be purchased with Bitcoin, guaranteed they'll see a meaningful spike in sales and demand not to mention the crypto community world glorify Elon

Some thoughts on rhetoric between RGB, Runes, TapAss 👇 I find it interesting that the primary marketing pitch and angle RGB and TapAss take against Runes is that their protocols have reduced onchain footprint and will have reduced fees and are healthier for bitcoin etc. I just want to be clear no degen or real end user of these protocols gives a single **** about that period. This marketing panders to the conservative bitcoin maxi camp that also doesn’t care about how your token protocol is healthier for bitcoin, your are and always will be just another shitcoiner in their eyes and they have no intention of using your protocol. Instead what you should be doing is focusing on how the trading experience is vastly better and easier than competing token protocols or Runes. How many clicks to buy and sell a token and how quickly you can do it is the only messaging that matters. It doesn’t matter how over engineered your protocol is when we’re talking about the casino. You need to be laser focused on bootstrapping liquidity and a market. If there is no market there are no users and if there are no users there will be no infrastructure support from exchanges or wallets. In my personal opinion it would behove the RGB and TapAss camp to put their middle fingers up to the purity maxi camp and lean more into what made ordinals successful and why there’s interest in Runes, why people care and choose to participate, what the actual frictions users face are, what they want to see and how they want to interact with their assets if either RGB or TapAss wants any chance at gaining traction.

🧵Between the 2028 - 2032 halving cycle I think the @cryptopunks community will have be having serious conversations about a migration plan to bitcoin because of how dead Ethereum will be

1/ All eyes on $BTDR Bitdeer’s ASIC Manufacturing Business 🧵 An Analysis of the TAM of the ASIC Manufacturing Business Read below 👇 (Disclaimer not financial advice)

@nodemonkes it’s provocative, it’s what the people want Send nodes 👹

Accumulating Progress: ████████▒▒

Today @glxyresearch published a new white paper on Ordinals and Inscriptions. See why we believe inscriptions could be a $5 billion NFT market by 2025. 👇 h/t to the dream team @SimritDhinsa @GuerillaV2 @intangiblecoins @FullNodeChuck @hiroto_btc galaxy.com/research/whitepap…

Everyday waking up getting to work on and think about bitcoin and how to add value to the space with so many other smart and passionate people is a honor and a privilege

On relative basis top PFP collections on bitcoin like @nodemonkes @OrdinalMaxiBiz @quantumcats @BitcoinFrogs have a lot of room to run compared to top PFP collections on ETH and SOL. It’s still incredibly early for the proliferation of art and culture on bitcoin.

In 2023 tx fees averaged 0.44 BTC per block, in 2024 they averaged 0.29 BTC per block. So far in 2025 fees are averaging 0.04 BTC per block, down a whopping 90% from 2023 and 85% from 2024. Please bring back the spam I have some wide eyed and starving miners.

Run nodes @nodemonkes

It’s true ya know 🤙

I joined @galaxyhq October 2021 and reflecting over my time at Galaxy it has been incredible how much I’ve learned in 1 years time not just about bitcoin mining but also, M&A, restructuring, credit, derivatives, energy, and policy. Thankful to work with such awesome ppl everyday

#Bitcoin mining’s profitability is still wildly under appreciated. An S19j Pro’s marginal cost of producing BTC at $0.07 per kwh and a network hashrate of 350 EH is $19,346. That’s a lot of cushion from that breakeven point given BTC’s current price and network hashrate.

I think inscriptions on bitcoin will gravitate towards being more akin to the traditional art market where artists will care a lot more about placing their art with the right collectors and cultivating small tightly knit communities. It will not be about utility and flips.

The most overlooked and underrated aspect of working in an office is learning from the people around. So much insanely valuable information can be gained from short coffee chats, water breaks and lunch. I miss some of that.

🧵 One day there will be a bitcoin museum and I often think to myself from an archival and preservation standpoint what artifacts will be included. I think the list is expansive enough to have a Smithsonian sized institution for bitcoin. Some of my thoughts below 👇

Imagine if inscription collections had their own branded bitaxe cases and launched pools for holders to point their bitaxes too and took some percentage of block rewards for the project treasury. Then you could have collections compete for the most hashrate and blocks found.

Might drop some alpha tomorrow 🤔

Here’s a Wild and Triggering Stat A single JPEG on Bitcoin, inscription #2 sold for more BTC than is locked into Liquid excluding the top wallet address which accounts for 99.5% of all BTC in liquid or 3,762 BTC out of 3,780 BTC after the protocol has been on mainnet since 2018. I think it’s time for some different ideas and strategies around product market fit and bootstrapping protocols. Sources: liquid.network/ magiceden.us/ordinals/item-d…

According to @bestinslotxyz @nodemonkes has surpassed bitcoin frogs to take the number 1 spot for total volume with 2,057.48 BTC or $117M in today’s dollars.

We need better information and knowledge sharing in the bitcoin ecosystem across the different areas of focus. Teams working on Ordinals / runes infrastructure should be talking with teams working on taproot assets infrastructure and vice versa. There’s a lot of lessons learned and potential collaborative ideas that could be sparked from better immersion on both sides. We could have organized spaces to share ideas, talk about what’s worked to date and what hasn’t worked and educate both sides about what’s been happening with runes and what’s happening with taproot assets. Cc @RyanTheGentry @hmichellerose @janbtc @isabelfoxenduke @nftsupply @raphjaph

Imagine if @rune_coin and RSICs could be connected to actual mining in a creative way. You could have an RSIC mining pool for holders, and you could have a custom bitaxe case with an LCD screen that would show the active runecoin symbols based on the previous blocks hash 👀

Hashprice would need to increase 64% using the latest generation ASIC to equate to average HPC lease rates according to CBRE’s new H1 2024 Datacenter Trends report. Average HPC lease rates are $239 per MWh or $174,060 per MW/Month. Follow @SecondGate_ for future insights

All of a sudden the miners that have done nothing but destroy value and capital investing in ASICs now believe they won’t do the same with GPUs. Bearish on every miner investing in GPUs for themselves, more bullish on simply owning the infrastructure and serving as a landlord.

Participating in ordinals helped me understand the UTXO model better than ever before, thank you @rodarmor 🫡

My @fomojis from reveal, 🔥 @SanjFomojis

HBD Punk #83 Inscription #609

In this moment I am euphoric 📈

Accumulating

1/ I took a look at digiconomist model for bitcoin energy consumption and rebuilt in excel to better understand it. The key takeaway is that their model is incredibly flawed and grossly overstates reality in mining economic upside scenarios. Let’s dig in 👇

Friendly reminder, bitcoin isn’t a lifestyle or a religion It’s a simply a tool that can be used in any consensus valid way

The new UI for ⁦⁦@umbrel⁩ has me so geeked! Power to the plebs ⚡️