The Ordinal Show

Space Summary

The Twitter Space The Ordinal Show hosted by LeonidasNFT. The Ordinal Show delved into the world of ordinal influences, runic mastery, and community engagement within the unique framework of @ord_io. From hosting strategies to content curation tips, the discussions emphasized authenticity, collaboration, and consistent branding for sustainable community growth. Creators learned how to connect, create impactful content, and foster audience interest in projects, highlighting the significance of ordfluencers in shaping digital spaces. The Ordinal community stands out as a hub for innovative approaches to building connections and driving meaningful interactions.

For more spaces, visit the Unique Projects page.

Space Statistics

For more stats visit the full Live report

Questions

Q: How do ordinal influences contribute to community building?
A: Ordinal influences facilitate trust, authenticity, and engagement, fostering a strong sense of community.

Q: What are the key elements of mastering runes for personal growth?
A: Runic elements symbolize guidance, intention setting, and manifestation of goals for personal development.

Q: How does @ord_io support community development within the Ordinal network?
A: @ord_io plays a pivotal role in connecting members, providing resources, and facilitating collaboration within the community.

Q: What hosting strategies and content curation tips were shared by @TheOrdinalShow?
A: @TheOrdinalShow discussed effective hosting techniques, audience engagement methods, and content creation strategies.

Q: Why is authenticity crucial for sustainable community growth?
A: Authenticity builds trust, loyalty, and meaningful connections, essential for long-term community sustainability.

Q: What role do ordfluencers play in digital spaces?
A: Ordfluencers influence trends, share valuable insights, and engage with audiences, shaping digital content and interactions.

Q: How can creators build connections within the Ordinal network?
A: Creators can connect through collaborations, networking events, shared projects, and active participation in community discussions.

Q: What are some tips for impactful content creation in community projects?
A: Creating valuable, engaging content, staying consistent with messaging, and actively involving the audience are key for impactful community projects.

Q: Why is audience interest crucial in project engagement?
A: Audience interest drives participation, feedback, and growth within projects, highlighting the importance of engaging content.

Q: How does consistent branding contribute to the success of community initiatives?
A: Consistent branding establishes recognition, credibility, and trust, strengthening community initiatives and fostering a unified identity.

Highlights

Time: 00:15:28
Ordinal Influences in Building Communities Exploring the impact and power of ordinal influences on community dynamics.

Time: 00:25:17
Mastering Runes for Personal Growth Discussing the significance of runic elements in personal development and goal manifestation.

Time: 00:35:40
Role of @ord_io in Community Development Understanding how @ord_io supports networking, resources, and collaborations within the Ordinal community.

Time: 00:45:53
Hosting and Content Curation Strategies by @TheOrdinalShow Insights on effective hosting, audience engagement, and content creation shared by @TheOrdinalShow.

Time: 00:55:12
Authenticity and Engagement for Community Growth Highlighting the importance of authenticity and engagement in fostering sustainable community growth.

Time: 01:05:21
Ordfluencers' Impact in Digital Spaces Exploring the role of ordfluencers in influencing trends, sharing insights, and building digital communities.

Time: 01:15:37
Building Connections within the Ordinal Network Strategies for creators to connect, collaborate, and engage within the Ordinal community.

Time: 01:25:44
Tips for Impactful Content Creation Providing tips on creating engaging content, maintaining consistency, and involving the audience in community projects.

Time: 01:35:55
Importance of Audience Interest in Project Engagement Emphasizing the role of audience interest in driving engagement, feedback, and growth within projects.

Time: 01:45:10
Consistent Branding for Community Initiatives Discussing how consistent branding builds trust, recognition, and credibility in community initiatives.

Key Takeaways

• Understanding the power of ordinal influences in community building.
• Mastering runic elements for personal growth and project success.
• Exploring the role of @ord_io in facilitating community development.
• Insights on hosting strategies and content curation from @TheOrdinalShow.
• Importance of authenticity and engagement in community growth.
• Discussion on the impact of ordfluencers in digital spaces.
• Building connections and collaborations within the Ordinal network.
• Tips for creating impactful content and fostering a strong online presence.
• Strategies for maintaining audience interest and participation in projects.
• The significance of consistent branding and messaging in community initiatives.

Behind the Mic

Introduction to the Ordinal Show

Good morning, bitcoiners. That's right, you're here at the ordinal show. Welcome back to irregulars. Hello to our new friends. If this is your first time, the Ordinal show is a live podcast hosted twice per week on X Spaces starting 1030 met Monday mornings and 06:30 p.m. eT Wednesday nights, going for multiple hours covering various topics all about building new cool shit on bitcoin. Ordinals are not just a new kind of MTM bitcoin, but a massive movement, people who care about growing bitcoins, adoption, and bringing BTC to the masses. More important than the protocol itself, Ordinals is a cultural shift. It's attracting new developers and users, incredible artists, and accelerating innovation. I'm Trevor BTC, CEO of Ninja alerts and managing partner of the Bitcoin Frontier Fund. And I'm here with my co host, the guy who'd rather skip his own show than Skip leg day. You can spell his name, but you can't pronounce it. Is it Jan, Yan or Yan nobody knows.

Introducing Co-hosts and Guests

Anyway, he's the CSO at x verse and my man with the plan and the king of BTC, Sparta Leonidas, our in house NFT history expert and co founder, or IO. And today in the stage, we're joined by CBC, CB Spears, Johannes, JDOg, Stoop, Toshi, Funky Eagle, Deadhead, and many more cool people come to our day show, guys. So I am super excited to be here and glad that you are all here with me. I pinned a tweet to the top letting everyone know that we're live. Please take a second look at the tweet at the top. Give it a like, give it a retweet, show some love for the algorithms and welcome more people into the space. Also, smash that pearl button in the bottom right hand corner with your comments and questions or some GM and LFG tweets in there. We'll read your questions throughout the show.

Engagement and Social Media Promotion

Don't forget to follow the Bitcoin Ordinal show on Twitter at the ordinal show. Subscribe to our sub SAC newsletter link in bio we post the weekly recaps in the newsletter and RCP links for future shows, as well as a condensed version of this show on Apple and Spotify podcast so you never miss what's happening on the leading edge of bitcoin. And with that, I'm going to turn over Leonidas to introduce today's show. All right, let's do this. What's up, Trevor? What's up, Jan? Yeah, so guys, we've got. Got our Monday show back. Hope everyone is going to have a good week. I think we're starting things off with a pretty strong October. You know, October started as downtober, but it has now shifted to October.

Bitcoin Price Discussion

As I'm talking, we just hit $66,000 VTC for the first time in a little while, which is quite exciting and, you know, we'll see what happens from there. I think Bitcoin's been doing this thing where it likes to go down in the fifties and then it comes up close to 70 and it's been doing that over and over. So if we actually hit a little higher, which could happen quickly, I think we'll kind of break out of that little situation we've been in for six months. And I think everybody's very ready for that. So just BTC price action wise, I mean, I'm looking at the chart today and it's looking very beautiful. So curious to hear people's thoughts on DTC price action. But yeah, wanted to let everyone know that on Wednesday we have the CEO, magic Eden Jack coming on. We're going to do a little open ama with him and would love to have y'all come prepared.

Market Sentiment Analysis

Bring some questions. You know, if you have something you want to ask him, just think about it. Come up request. We will let you ask him it and I think that'll be a great conversation. Runes are seeming to do very well, or nose. They're steaming to do very well. The market's definitely healthy. It feels like we definitely have bottomeda sometime over the summer and just general market sentiment is way up. Like this is very exciting. I think that the kind of story of the past couple days is that runes minting has been very popular. I ran some numbers last night and there were two runes mints that performed really well. It's this ribbet mint and this Gizmo mint. I think Gizmo is now up like 50 x from the mint or something like insane like this.

Performance of Runes and Market Trends

So, you know, when you start to hear stuff like that runes her back like 50 x in a couple of days is pretty insane. I mean, on any blockchain, like, that's absolutely incredible. So obviously, you know, like a moron. I tweeted, I tweeted, you know, I had the or IO intern tweet about the gizmo meant as it was happening, but didn't meant myself. So, you know, I missed out on all those juicy gizmo games. But congrats for everyone who minted and, yeah, that's the current state of things, guys. Like, up into the right, and we'll see what. We'll see what ends up happening from here. And, yeah, wanted to kind of just kick this conversation off about just market sentiment. I think that's everybody's focused on the price charts right now and wanted to hear how people are thinking about that.

Transition to Guest Contributions

And maybe we'll have to do a price charts update with query about rare thoughts in a minute as well. But first, Eagle. What's up, dude? Hey, what's up, man? How are you doing? I am doing good. Awesome. Awesome. Good morning. Good morning, everyone. And I guess I'll touch first based off of, like, the bitcoin price action that you mentioned. So we actually had about 10 hours ago, we had ten, roughly, almost $10 million of bitcoin short liquidations. And then in other perpetual markets, we had over 165 million in total liquidations. Majority of that coming from the short side, 101 mil, and then on the long side, 63 mil.

Liquidation Insights

And then we also had, blocks heating up. I don't know if you noticed, Leo, that during the week last week, the block spiked up to almost 92 sats per v by. What do you think about that? Yeah, it's pretty gnarly. Like, it seems to be a combo of. I think there was this Babylon staking situation that definitely Jackson fees up when that happens. But then just. There's been a consistent drumbeat of rooms minting activity. Right? Like, these. These mints are just nonstop. There's always some, like, I go, you know, I run. I run a company that builds exploring and minting software. And it's like. It's just a nonstop drumbeat of, like, as soon as one mint ends, there's, like, the DJ's are on to the next one, and it's just this organic kind of minting.

Demand and Market Dynamics

The blocks are filling up and. Yeah, I mean, look, demand for block space drives that price to get in that. That. That block up. That's. That's. It's a very simple equation. It's what Casey. It's. It's like 90% of why Casey did all of this. Right? As much as he loves us, it's not just to make us money, guys. He wants bitcoin blocks to be full and generating fees for miners and to solve bitcoin security, budget problems. So, I mean, look, it's. It's very bullish if you are a bitcoiner, in my opinion. But, yeah, look, you know, it's. It's annoying for the inscribers I mean, I think there's a lot of us who are, you know, looking forward to the fees going up, but then there's a lot of people who are not looking for like, you know, if you're dropping a collection, it's not super ideal for 90 SAP per B byte.

Future of Bitcoin Fees and Market Growth

I mean, that's incredibly expensive. Right. It's literally a 45 x since, you know, couple. We definitely will be getting higher quality etches. That means because the communities are going to be. Have to. They're spending almost hundred thousand dollars just to etch. Etch the rune. So, dad, like the high. Hang on, hang on. I don't think anyone's spending a hundred thousand dollars. Touch? Well, I recently actually saw a rune that was in the men pool and is minting at $52 per minute and 20 mints was roughly 1% of the supply. Yeah, I know. You're totally right. Yeah. So when I do the math, you're right. The actual mint itself. You're right.

Calculation on Minting Costs

Yeah. No, I mean, people spent way more than $100,000 minting. Yeah, yeah. And like on Solana, you could just launch something for free. So it's like communities. Communities are actually putting in value to etch their runes and just to kick off their communities. Right. Which I find is fascinating. Which means that there will be higher quality of projects that are coming out on this side. This, this. On this game. Right. Like on bitcoin ecosystem. Yeah. Look, as it gets more competitive. Right.

Market Dynamics and Project Quality

If, if the mem pool is higher. Right. You know, as people want to mint more runes, I think, yeah, the top minting rune, actually, I'm not sure if it indicates that there will be more high quality. I think it'll also lead to a lot of less pike. There will be more edges of lower quality, but I think the top ones, the ones that are mincing out every day will be of higher quality. I agree with that. I think that's definitely true. Trevor Yacht, I'm curious, what are your thoughts around the market here? Nobody was really expecting BTC to just take off, but it's up 5.5% today and seems to be up and to the right.

October Predictions

What do you guys think about this? Man, I think we've had a very strong October every single election year. If you look at that chart that came out a couple of weeks ago, about October seemed pretty consistent. I mean, there could be some small chance that October wouldn't be a strong month. But I think that, you know, it's going to surprise people towards the end of this month and we have the election right around the corner. Just so you know, something's got to give eventually. You know what I mean? Like the fundamentals are very strong in this ecosystem. We've kind of had not a lot of activity for a while and we know that strong activity liquidity flows after these sort of dead periods so it's got to give at some point.

Price Movement Expectations

And yeah, no surprise you've been a. Long, long time predictor of the october, you know, leading into election phenomenon. So your shit, you know trevor, you, I'm gonna have to give you credit for that prediction. Like you're turning out to be pretty darn accurate, dude. Well, well played. Yawn. What? What you got man? I don't know man. I think to me bitcoin price, I want to see it above seventy k and then I'm going to start being really bullish because we're going up and down, up and down. You know. So I mean obviously it's great to see that we're 5% up today but you know we need to break through that, you know, 70k again.

Current Price Trends

And then I hope that Trevor's prediction is going to be unleashed and we're going higher and higher. So I'm waiting for that man. I don't know. Is it happening this week? It definitely is, Jen. Like we the monthly candle has flipped green. I'm targeting 88k with conviction. I feel like it's time for price discovery. We've had a long enough of time based capitulation. It's time for us to break out of this range and go into price discovery. Hell yes. It's damn time. This, this whole summer has been so brutal. I mean you rocket from $51,000 to like $65,000 in a week.

Market Fluctuations and Sentiment

Like that's exciting. And then you just slowly grind back down to like $55,000 over the course of a month. Like it's a terrible, we've all been tortured for the last six months. Let's be honest. I'd much rather see bitcoin just nuke than just this sideways stuff is horrible. Dan. What's up Joe? What's up? Just market sentiment. Just looking at October, the October lows typically come in within those first ten days of October. I think the low was October 10 and now we should be up. So yan, I mean with Eagle on this, we should go up.

Market Projections

I think 85 to high. Eighties would be the target then with the retrace. So maybe we get there. October 5, who knows what's going to or November 5, who knows what's going to happen. Election could cause some volatility, maybe retrace back down to 72, test that breakout, and then we're off. So one thing to mention, I mean, we're in the final year of the bull run, right? We've had the two years behind us. We're in that third up year. So just waiting on this last year to really maximize the gains. But I feel October low is in.

Subsequent Predictions

And we're up and beyond all time highs by the end of the month. Well, I'm excited. This seems bullish. I'm excited. Love it, love it. Yeah. Look, guys, we'll see what happens. We'll check in with the price again by the end of the show. Who knows? Maybe what usually happens here is it'll like drop to, it'll be like pointless that I even brought up this conversation. Or maybe we go straight to it's like, I do think that number of then also the all time high of around 74k.

Key Psychological Price Levels

These are two really significant mental hurdles that, you know, count way more like that. The $4,000 to get to 70,000 is worth way more than the 60 to 64,000 that we've been doing over and over. I did want to bring up something interesting. I know it's kind of an interesting phenomenon and I'll pin the tweet above so that everyone has it. But yeah, maybe first. Jan, do you want to add anything to this conversation before we move on? No, I mean, it's not about bitcoin price, but I actually wanted to ask you, Leo, when it comes to runes market cap, did we hit all time high or were higher than 1.5 billion before?

Market Cap Discussion

I actually have the data for that. Yeah. so we actually crossed, we crossed, so runes market cap on bitcoin reaches 1.5 billion, not seen since June 2024. That's the headline that I have. I'll pin it on the Jumbotron. So runes market cap is actually at its in price discovery as well. We're going price discovery after price discovery, my friends. This is, I'm not sure where quiet prices discovery yet with runes because I do think we are not at a true all time high for the total market cap of runes yet.

Understanding Runes Market

So perhaps there's some dilution that I'm missing in this chart. I mean, so here's basically how I look at it. The dog hit $980 million. I'm pretty sure maybe it was two thirds of the value of all runes. It's possible. I'm pretty sure the other runes accounted for enough to put us over. I could be wrong too, though. It's maybe the other runes were super underperforming. But I'm almost certain that the other runes put us over 1.53. But I could be wrong. Maybe we are in fresh discovery.

Calculating Market Trends

It's either way, we're being nitpicky. We're very close. And to be honest, it is a little bit hard to calculate that number because there's all these like Fae who and bank and all these like weird, like the team holds like 98% of the supply situation and like skews massively the market cap. So yeah, it's a little bit hard to do it, but if you kind of exclude all those guys, I think we have to be like right about at it or getting very close to an eagle. So yeah, it's exciting. Like it's quite exciting. Maybe we can talk about runes in a sec.

Mempool Space Controversy

But first I just wanted to pin something up here. So Mempool space had a little bit of a controversy over the weekend. In classic laser eye fashion, I'll pin both of these up. So it was interesting. A startup that no one's ever heard of, it had like 400 followers called Mana Bitcoin decided to tweet out. We have decided to terminate our support of bimple space. We do not feel that our values are aligned and we want to do our best to support developers that are more in line with our goals.

Reactions to Mempool Space

We wish the best for their runes and stuff or whatever. And this got a little bit of attention just because it was a spicy tweet. The laser eyes seemed to evolve, bent the knee to the fact that, look, these blocks are open for everyone and if you pay for the block space, you can stick dick butt pictures in there if you want to. That's just the reality of how blockchain works and you got to get over it. But you know, this Mana BTC people was, you know, a little bit stealthy about it still and decided they're going to stop supporting Memphis space.

Block Space Market Dynamics

And of course that is a reaction to Memphis spaces move of they're actually doing something a little bit interesting. They're not like showing like super useful data, to be honest, with the runes mints and like runes activity because they're like refusing to actually spin up an ord node and like show balances and stuff like this, which would be like by far the most useful thing. However, and this is a pretty big step. And it's like, you know, this is all about stepping stones for these guys. So you gotta hold their hand and be very, very patient.

Support and Development of Runes

They are looking at the transaction and they're just looking at the bitcoin blockchain and saying, look, if this thing has some special piece of opcode in it or, you know, segwit data or something, they're gonna show that on their Mempho explorer. So now you can see they'll basically mark these transactions as being like runes related essentially. And that's pretty badass. That's pretty cool. And I think, you know, we should all be, you know, supportive of them doing that. They're a very popular bitcoin explorer.

Mempool Space Support

You know, we all, I know, I'm sure are, you know, sitting on that little site with the tab open, hearing the little things on our computer. They're very, very, it's a very useful product and you know, their team, it's an open source product and they have a donations page. And kind of interestingly, in response to that, you know, bitcoin mana fud over the weekend, men pull out space clarified, they sent out a clarification tweet. It's tweeted above it. It was not much of a, it was just basically saying like, we're not running ordinal or these like fake meta protocols.

Clarifying Their Position

So it's like there's, it's their way of saying we're still Maxis, but we're going to still show what's in the inscription and runes transactions. So it was kind of like we're going to align with the ordinals people because we're a bitcoin explorer and like this is 75% of all things we show. So we kind of have to show this stuff is what they're saying, which I think makes a lot of sense. It'll be very weird to be a bitcoin explorer, not show what 75% of the stuff is.

Community Reactions and Donations

And that's pretty exciting. So in response to this, just to wrap this up, people have been donating to mempool space as like supporters. And it's an interesting phenomenon because now you go to this like sponsors of mempool space open source project tab and it's like all, it's all like monkey DJ character, like all the garbage that the laser eyes. Absolutely a right. It's all these ordinals, pfps. It's like literally like two thirds ordinals pfps and people are, you know, some of the. Like, it's interesting.

Community Dynamics

Like, I think we're making a very clear stance that, like, we are, you know, an important player in bitcoin now, and we're kind of backing that up. And unfortunately, like, I think probably increasing animosity with laser eyes by doing this, like, turning the mempho space donation page into, like, a billboard for different PFP collections is probably not something that the Maxis love when they go to bimple space. That said, it's exactly what's happening. Like, I think it's a. It's a combo of, yes, people really do want to support bimple space, but I think it's more about, you know, winning a dick swinging contest with the laser eyes.

Financial Dynamics in Development

And, you know, you pay this, like, thousand dollars and you get to advertise your ordinal collection, so it's also, like a paid ad, to be completely frank with you. And those feedback loops have led a bunch of ordinals people to donate to this page to get their PFP up there. And, yeah, it's a very interesting thing to watch play out in real time over the weekend like this, but ordinals folks showing up in full force here. I'm curious, Charlie, did you kind of witness this whole little classic bitcoin laser iverse ordinals saga over the weekend with bim pulled out space getting caught in the middle, bro.

Personal Reflections

I got triggered on this one. I walk in both camps here, so I still. I have a leg in the maxi camp and leg in the ordinals camp. And this was one where, like, I had to hold myself, I had to delete a lot of tweets because I was very angry. This one, it is absolutely a dick swing contest. So ordinals people swing your dicks over. To menpool space and donate. Like, the only way that we can get our point across that we love supporting open source tools is by financially supporting them. Man.

Community Support and Criticism

I have loved to see the amount. Of JPEG profile pictures that are up there. If I ever. If I were looking to do a. Whitelist of any kind, I would love to pull from supporters of men pull out space. I think that's, like, the most highest signal for, like, high influencer people who have money and like to support interact with products. I feel very strongly about this. There was some criticism about the fact that you're not allowed that it's bad.

Critique of Market Practices

To demonstrate different lenses on arbitrary information in bitcoin blocks. And I would say if you have a criticism with that, then stop showing. Who mined which block on memplots space? Stop showing if it's a multisig or nothing. Heck, I like basically if you can't query it from a CLI, then stop showing if you don't. If you're not, like, why even show have explorers if you're going to even provide a user interface? I look at the criticism of this and this is incredibly stupid.

Reactions to Criticism

And yeah, I got very angry. It's like the first time I actually got triggered. It's crazy, man. Yeah, this man at BCC Dev who tweeted this definitely got what they wanted. They don't have an app. They don't have. They don't have a product person Twitter account that like, somehow, man, I feel so bad. I feel so bad, guys, because the guys from Czech Republic, you know, and I'm like, fuck, you know, he's making pretty bad reputational damage, you know, to us week is.

Cultural Context

Yeah, that's where you're from, bro. You got it. You gotta go. You gotta knock your sense into this guy. Actually, you know, this is the guy. When we actually invited him to the debate, Leo as well. And I even tweeted at him. Wait, wait, wait, wait. Who we talk about? I don't know, his name is Adam Schemechka or something. And you know, when you tweeted about the debate that we are looking for Maxis to join us for a debate? I don't know, I think he responded or something and I tweeted back on him that he should actually join us.

Invitation for Participation

And he obviously kind of disregards us altogether. But it's the same guy. And they have this wallet that nobody ever heard of. And this was probably the most successful tweet of the company just because you responded to it. Y'all's getting the, like, funnest competition at the same time. Even though this, like, I mean, it's not competition because they're like, they're never gonna support ordinals. If you want to trade shit coins. That's not competition because they don't have a wallet, they don't have an app.

Emphasis on Transparency

There'S no product right now. Cannot emphasize that enough here. My favorite interaction was, I'll just like, I'm gonna go find this and read it. Read it super quickly to you because I thought it was pretty priceless. Like, this whole thing was not thought out well by the Manna BTC folks. So UDI goes, just curious how much. Okay, just to be clear, manage said we've decided to terminate our support of bimple space we do our best to support developers that are more in line with goals.

Challenges in Communication

UD goes, just curious, how much capital do you support mempool space with before terminating your support? Mana says we have to give someone money before we can stop building their service into ours and promoting its use. Question mark. So basically saying we haven't supported them in literally any way, we've actually just taken from them and use their APIs. And then Ud goes, you can do whatever you want, but it sounds like mimple supported you. You never supported Memphis.

Reflection on Support and Contributions

And I just thought that was funny because it's like, look, these guys weren't even doing shit to help mempool that space either. So like these guys are just complainers. These guys got a free product and then have the audacity to go to Twitter and get pissed off about the free product they like use. Like what the hell is wrong with these people, guys? Trevor, go ahead. Yeah, I think this is cool and all and like I get it, but I also think that like Mempool like, you know, it's a for profit company, right?

A Call for Balanced Support

And like they haven't supported ordinals, you know what I'm saying? So I don't see why we're all rushing to sponsor them and give them money just to sort of maybe prove a point or I guess rub it into laser eye maxis. But you know, there's also other creators up here like Johannes who are creating a, you know, explorers that can view ordinals and that can give us the functionality we want whereas Mempool has just given us like a little tiny snack.

Product Limitations

You know, they're giving us the crumbs. They're, they never really support ordinals so I don't see the rush to support them. I literally think, Trevor, it's like a game of, they threw us a little tiny bone last week by for the first time really saying, you know what, we actually are going to show the basic version of this stuff and if you don't like it, go fuck yourself. And I think it's a reaction to after 18 months of poop emojis. It's a, you know, in this is all, it's all relative, right?

Perceptions of Product Philosophy

Like you have to measure these things like very carefully because you're right. If this was like an ordinal startup people would be like what the fuck? They're not even running or this data is pointless. But okay, but in the scheme of like the bitcoin culture war that we're waging, you know, the fact that the largest explorer which was laser eyes who put, you know, literal poop emojis all over ordinal shit. Like, literally all over our ordinals. Inscriptions have switched their stance to removing the poop emojis, which I think was a good thing that they did a couple months back to then doing this.

Negotiating Cultural Spaces

I think it's a step in the right direction, and I do. Look, I actually. I have a slightly different take with you than you hear. Like, I think a lot of these guys are under, like, these really weird situations with their friends and stuff, and it's a lot of like odd peer pressuring. And I've talked to a few of them, and look, these guys are, like, walking a very fine line of, like, you know, basically ruining all their friendships and stuff and are just tiptoeing.

A Shift in Social Dynamics

And a lot of them are, like, secretly, you know, using this stuff, but don't talk about it. And this is about as strong of a tweet as you can really get from a bim pull dot space. Like, it's like they're keep. They're putting their foot in both camps for the first time. And, like, I think. I think that's dope. I agree. It's not honestly that useful. I think it's more of just. It's the, you know, it's the bending of the knee to the new reality of bitcoin.

Community Perspectives

And, you know, they're. They're slightly bending their knee. And I think people are responding to that more so than the actual usefulness of the product, to be completely honest. Because I'm a little bit with you. If you can't see the balance changing or if it's valid inscription or not, it's not as helpful. But it's the 18 months, 20 months of nonstop just kind of bullshit from these laser eyes and the min pull that space guys were considered to be in that laser eye camp, and they've come around a little bit.

A New Cultural Landscape

I think that deserves a little bit of an applause. And I think that's pretty much what this is. You know, who knows? Maybe if they are now, you know, getting supported heavily by ordinals people, maybe they'll do more stuff. You know, who knows? So I definitely agree with you from, like, a practical perspective, just, like, usefulness wise, but from a kind of social perspective, I do think it's good to show them.

Building Bridges

Show them some love because they, you know, stuck their neck out for us, right? They guarantee you they lost, you know, friends sending that tweet out and changed, change their social circles that they can be in and stuff. So it's a, there's some reputational harm that goes from doing that. And, you know, they supported us in a very tiny way. And my guess is what this will do is they'll get oscillate, kind of ostracized and isolated from some laser eyes, which is actually a good thing because then they'll be more likely to align with us in the future because they've already lost support from some of those other guys.

Final Remarks

Yan, did you want to add something here?

Support for Native Builders of Ordinals

Yeah, I mean, I think to your point, and I agree with Trevor, I think we should definitely support the native builders of ordinals. And Johannes, you definitely will get a chance to speak here. And we have been talking a lot and I think this is amazing to see. But at the end of the day, I also agree with you, Leo. I think maybe this shows us this is kind of a data point, right? Because they have been aware of Orgnos for a very long time. The founder of Mempool been tweeting about runes and has been tweeting about what's happening, what these people are doing, why they're staking, you know, like Babylon stuff. And he has been like tweeting about this stuff for a very long time. And so maybe now this data point tells us that, like, you know, yeah, they're kind of getting away from these maxis or like, you know, the Maxis don't really matter even for these guys. They kind of see where the attention is, where the growth potentially is, because otherwise they wouldn't probably do it right.

Twitter Reactions and Community Support

Like if they were getting a lot of money from these maxi companies or if they were getting a lot of money from these other people, then they would probably not be tweeting like this because they knew what exactly is going to happen. I mean, they definitely knew that the backlash is going to happen. I don't think that they just did it thinking, oh, like, yeah, it's going to be all good. So I think it's just interesting data point and I want to see what's going to happen in the next few weeks because I think a lot of people are still going to donate and support from the ordinals community. And so it would be interesting to see if they're actually going to comment on this somehow, if like, mempool is going to like, or even the founder, not maybe the company themselves, but like the founder actually, like acknowledging this. Like, that's something that I would like to see, actually. Yeah, it's interesting. Just like even something like a thank you to the new sponsors or something like that is definitely cool.

Technical Developments in Mempool Space

Johannes, I think, you know, would love just give it, given your contacts here, would love to hear your thoughts on this. Yeah. First of all, I know every line of code of this pull request and I watched it intensively because, you know, I'm running a fork of Mempo space and I pretty much know exactly what they did there. So in the beginning there was a pull request where they really called the odd client and really fetched the data from odds. Then there was some discussion on the pull request to change that because it would make mempool space software dependent from the auth client, which is correct. So then the code was later on changed to just do some client-side parsing just to interpret the data, but without any indexing like Oauth would do. So. And there are two pieces of software inside this pull request. The first one was what you already discussed, analyzing rune etchings and maybe Mintz. I haven't looked so closely to this, but of course not understanding what this is, cenotaph or something, just trying to pass a transaction.

New Functionality and Licensing Issues

And inside this code pull request is also another little piece. They are also now able to pass inscriptions. But the funny thing is, there was some discussion around, should we show the jpegs or nothing. And they found a solution where they made size limit if the inscription is smaller than 100 kb. It's also shown on the Mempo space website. So it's not only about runes, it's also about inscriptions. And in the end they are just showing text inscriptions because jpegs are not supported right now. And now comes the funny thing. I already talked a little bit about this in the audit court because I have mixed feelings. On the one hand, I'm totally amazed that they are now finally supporting inscriptions because in the very beginning this was the reason why I made oddpool and they ignored my request. And yeah, now the funny thing is they actually took a bunch of code of odd pool, forwarded it back to Mempo space. But there's one problem with what they did. They completely violated the MIT license.

Concerns About License Violations

So according to the MIT license, you have to acknowledge the original order of the code. So if you are copying substantial parts of the software, you are, according to the licensed, forced to name the person who did that and includes original license. And this definitely did not happen. So they copied a lot of functionality from odd pool back to Mempool, but completely removed the license. I tried to contact them about this. Or did they implement it? They completely used my code. So can you go, can you actually prove that? Like, can you take your open source code and then their open source code and like actually put it through a text differ and like show? Yes, I think that's what people are going to want to see here. Like, did they re-implement or did they share the code? If they literally copy-pasted your code, that would be. I think they literally copy-pasted my code.

Discussion on Open Source Ethics

Yeah. There's even a little comment. Copy it from Oddpool parser without the license. Interesting. So they literally copy and your code is not under the same license as theirs, is that what you're saying? Exactly. So my code is under MIT. And if you copy substantial parts of the software, you are forced to include the MIT license, which is impossible because they have a different license. So they now have a problem. They violated the MIT license. They haven't mentioned odd pool at all, or me. And I told them in the pull request, gentlemen, this is substantial parts of the software. Yeah, yeah. It's copy-pasted line by line. The code commands everything. It's exactly my code. Interesting. So this is a little bit of an open source battle that's going what typically. I'm sure there's been other instances of this. What will typically happen in this type of situation, Johannes?

Seeking Resolution and Community Input

Yeah, usually I could now request them to remove the code, or the best option would be to. It's hard. It's hard. MIT license is not AGPL, so they are not exactly compatible with each other. I already offered them a solution, which they, of course, not responded to. So they copied it from a different library, which is called Oddwill parser. And they could just include my library as every other dependency on NPM. That would be perfectly valid, but I think it's not. They could, for example, put on the about page also the MIT license, but usually you're not doing both. You know, it's AGPL on their side. It's MIT on my side. And my license says you should include the MIT, but they have AGPL. So it's not incompatible with each other right now. But they copied the code.

Call for Community Acknowledgment

So I think this is a funny aspect. If I would have lawyers, I could say, gentlemen, please remove that staff or whatever, switch your license to my license. That would be possible. But the problem is since one week they are ignoring this. So the question comes to some gentlemen, like CB Spiers, what would you do in this situation? Would you now maybe make this public on Twitter? It would be great if you could at least, how should I say, acknowledge my work. And mention my name. This is all about this license. Back to CB Spiers. What's your opinion on this? How should I. Oh, Mandy, this kind of frustrates me to hear about. I'm kind of. I'm kind of frustrated to hear about this. I'm a huge advocate for mental health space, and this really bums me out to hear this.

Understanding the MIT License

I'll probably throw you on a DM with me and another person to talk. Through this, because I want to understand MIT. I want to understand the actual license a little bit better. I think this is probably something that. Could be back channeled and resolved, because it sounds to me like you have. The MIT license mainly just to protect. Yourself and your ip and just to help and then to provide structure to distribute it. So I think it sounds to me like you just really want Mempool to acknowledge the fair use and the. Contribution you made in a much more clear, explicit way. I think this is something we probably back channel first. You essentially contributed to this open source project is like the thing, and you want a little credit, Johannes? That's basically the situation, yeah. And I've said, yeah.

Discussion of Code Licensing and Rights

So MIT means you can do whatever you want with my code. MIT is one of the most freest license on the world, but you have to mention my name. That's it. My name. Gotta give the ordinals builders some credit. I think I'll make a comment that I think it's. I've said this in many other places, but. And I've even written entire newsletters about this, wherever. We've had a really interesting era in user interface and UX design over in bitcoin over the past year and a half. And I explicitly point to Johannes Explorer as one of the more interesting inflection points. And I think a lot of people should and will copy stuff that he's done over the past year and a half. And so, at the very least, I think Johannes deserves to be mentioned in the.

Acknowledgement of Contributions

In, like, when we talk about bitcoin design evolution as, like, one of the more important people in history. Bitcoin design. Thank you. Yeah, I tried to be somehow make something important in the open source world, so, yes, being acknowledged would be all I wanted to have. Right. But, yeah, right now it's just copy paste. That's frustrating. I did one year work on this to make a parser which is feature complete, has the same features like odd and the rust implementation. My typescript implementation is feature complete. It's a perfect parser for inscriptions. And then you see them just copy the code.

Reactions to Recognition and Community Support

Yeah. Well, Johannes, appreciate you sharing that. I know this stuff's kind of frustrating and, like. Yeah, I mean, I don't. Ultimately, I don't know how. What you can even really do with stuff like this. Like, I don't know how you would force somebody to, like, necessarily send out a tweet or something like this. So I don't know if you will get resolution, but Charlie's definitely willing to chat with you a little on this. And. Yeah, I mean, look, it sounds like regardless of if they're gonna acknowledge it or not, you know, I think we should acknowledge that you. You've contributed to the bin pull out space open source project, which is awesome.

Community Acknowledgment for Contributions

And I ordinal show listeners now know that. And, you know, I agree. Like, dude, your. Your ordpool product is awesome. And, yeah, look, I mean, we'll. We'll, you know, we'll see how this plays out. And, you know, obviously shout out to the Memphis space team as well, who's also made their code able for other people to use so that you could use it to do your explore. So it's like, that's the whole beauty of open source, is you can fork anything and borrow these things, and, you know, all of us win because we get better products. So, you know, we'll see. We'll see what happens.

Addresses Community Concerns

I want to go to Dogfather and then Robert and then funky Dogfather. What are your thoughts on the little mana BTC versus pulled out space saga that occurred this weekend? Yeah, GMGM. So I just saw this. This mana post today. So, yeah, that's super interesting. If you don't have a product and then do such a bold statement, I'm even puzzled that anybody was reacting to that because, I mean, if they were a resupporter, yes, I can. I could understand the reaction, but I would just say, okay, they're just trolling. So interesting to see how the algo works on X sometimes.

Community Support for Johannes

And I would love to see some support for Johannes. Maybe you can think about a donation campaign as well. Just make sure that you have color changing mugs that you're shipping. So that seems to be a very important feature. And, yeah, I would love to see a reaction from Manpool to acknowledge that Johannes code is used by them. And if they don't find a resolution, probably the ordinance community will be very loud and support you in that respect. It will be known. But maybe first discussing that with Charlie's help in, you know, behind the scenes is the first step.

Robert's Support for Mempool Space

Of course. Love the dogfather. Appreciate your takes there. I do want to hear from Robert now. Robert, I believe you are actually supporter, sorry, a sponsor of bent up space. Curious what you thought about that little exchange over the weekend. Yes, GM. GM, everyone. This was, I confess, the first time I've actually like being in the camp of like, what the fuck are these Maxis doing? To be completely honest, I was very shocked to see some of the Fud against mempool space.

Concerns About Mempool Space Reactions

I think pretty much in any industry if you're complaining about the features on a open source project, you're doing something wrong. That's a very corrosive attitude and I felt like I had to step up. Menpole space for me as an ordinal user and trader has been immensely valuable over the last year and a half. It's probably one of the best open source projects in the entire ecosystem. And the fact that they're even dipping their toes in support of our standards and the work that a lot of us are doing is great. I'm sad to hear that there's definitely some trouble in paradise.

Hope for Resolution

Johannes work here, like ordpool spaces was really cutting edge and very interesting in even just the early inscription days. Seeing new mints roll in, very innovative and I echo Charlie's comments there. I'm hopeful there can be a resolution. But yeah, I feel like a lot of us that have really done well in the ordinal space and that we're early. A lot of like our success can be attributed in a small part to mempool space. And I do encourage everyone to step up and contribute even a small amount if you're able.

Robert's Acknowledgement of Johannes

Appreciate the takes. Robert Funkey, what's up, GM? Gm. I'm not sure if it's on my end, but I couldn't hear Robert, apologies for that. I just want to say, just quickly touch on Johannes. I do feel for you, man. That's frustrating, particularly if you spent a year on that. But on the other hand, I was just looking into that MIT license. You'd have to give a written permission for that. And also, by the same token, if.

Discussions on Code Liability

Anything goes wrong with your code, I. Guess that impacts on them, then you. Can'T be held liable either. So it's a difficult one. But. But recognition is what you want and what you need. I definitely 100% I'm with you on that in this. What I want to say briefly, I think slightly digressing from that, Leo. I think what an exciting time for anyone in bitcoin. Right? This is the first year for runes and ordinals ecosystem first year.

Anticipating Future Trends

And I think I'm certainly really. Bullish and really excited, look forward to this year, this cycle, particularly when the whole excitement around ETH has died. And I think that's shifting towards l two s potentially, albeit there might be. Some wars going on the l two side. But I think in this, it's going. To the difficulty we may have that, you know, the same kind of criticism that, you know, runes on bitcoin ordinance can be clunky expensive in that. But I look back at 2021, right? Some means, some transactions cost like two or three eth for just one transaction.

Reflections on Market Dynamics

Some people were paying ten e for some transactions. It was just stupendous, really expensive. So sometimes when you're really excited in this, you know, minting or doing some stuff, and I think you kind of tend to ignore that so that can kind of deal with that issue. But I think what's really exciting as well, I'm looking at potential kind of the trend, what's changing in the market now, but the shift in terms of the narratives and the kind of perceptions. And I think it appears to be like the utility is no longer a thing for this upcoming cycle. So it's all about memes.

Cultural Shifts in the Bitcoin Ecosystem

And I think, personally, I think you mentioned this as well before, Leo, you know, memes at least they don't pretend to be anything else but memes, right? So there's some fun, there's some excitement. This is not something I came up with, by the way. This is like a kind of narrative that's been going around for a while. And that casey very much is a believer in that. Like, luck. Memes are like the four fairest, kind of most honest version of a token because you kind of know what you're getting. Like, everybody knows it's kind of speculative pump, and then it'll dump type situation.

Understanding the Nature of Meme Tokens

That's just the nature of it. And, you know, they go way up, they go way down. They go way up again. They go down. Like, people know that they're fun because of that volatility. And that's like part of the reason why people like it. And I was actually chatting with Murad over the weekend. And, like, that's very much his belief on it as well. Like, he believes that, like, the hierarchy of tokens are number one, BTC, number two, meme coins, and then number three, utility tokens. That's, that's like his hierarchy.

Critique on Utility Tokens

And he thinks that meme coins are actually very bullish for BTC because meme coins, while still being sort of altcoins, are actually much more akin to BTC if done the right organic way and bottom up community driven than these utility tokens are so just very different because ultimately BTC, it's all about execution risk, basically. It's not that utility tokens are inherently bad or something like this. It's just that the reality is retail doesn't seem to understand that most early stage startups, they're going to fail. This is just what happens.

Challenges Ahead for Investors

It's very hard to create a billion dollar startup situation and build something really impactful and just people feel burned because they invest in something. And I think it's all just about, look, meme coins. You can talk about going to the moon and it's like it'll either go to the moon or it won't. People basically understand that with utility tokens, like you're basically being a venture capitalist investing in a team, but yet you didn't really get to do diligence on that team, maybe the same way a true venture fund did or something.

The Nature of Market Dynamics

And people basically end up getting susceptible to this sort of weird type of marketing that a lot of companies do where it's like some founder of a startup is half focused on building the products but then half focused on pumping their tokenization to you. And that's like a weird dynamic. And ultimately it kind of misleads retail a little bit. And I think retail feels that, you know, unless you go to a, you know, unless your company like goes to a billion dollars, then you were like lied to or something like this and that they didn't work hard enough and they moved on and rugged you too quickly, this kind of stuff.

Retail Preferences and Trends

And I think like retail is kind of basically saying, look, we prefer this meme coin non utility stuff because we can't get as easily misled. We're just quite frankly very bad at venture capitalists, which I think kind of makes sense. I kind of, I would agree with that in many ways. Like, you know, you're not getting to sit down and talk to this founder for a couple hours and figure out, you know, what the deal is and how high of a performer they are and what their experience is.

Observations on Market Dynamics

You know, a lot of these, a lot of retail is just buying whatever the popular kind of pump is. And maybe that means the person just really good at like, you know, working with market makers. That doesn't mean they're going to build a great software product though. So there's a lot of people who just feel burned by, you know, they didn't buy utility tokens that were very high quality and they kind of got tricked a little bit. And there are great utility tokens out there. There's obviously great products that have utility tokens that we all use, but they feel like that's not the ones that we got real upside on.

Market Sentiments and Investor Perception

And yeah, they all. I think also people don't like that. I think there's a kind of stigma that utility tokens, like retail doesn't get the first buy at institutional investors do. And I think it's a little bit, there's a war between institutional investors and retail. There's no question. GME, that's pretty much what that was. It's like institutional money, first retail money, and they're all competing in these markets together. And meme coins feel like a fairly obvious contender for something that's going to be retail driven.

Meme Coins and Bitcoin Dynamics

Maybe institutions drive it, but it seems like it'll probably be retail driven. And BTC definitely is this very organic, decentralized token with no execution risk. And meme coins are as well. And I think that's the kind of articulated thesis that Murad is making and that Casey has made and that a lot of people are feeling right now. Yeah, 100%, Leo. And the other thing is, with this being the new, obviously new cycle for us, brand new for ordinals and runes, I guess almost gets for me, certainly.

Catalysts for Change

Anyway, I'm getting this early kind of 2021 vibes that we had for Ethereum last cycle. So with that, I guess we would, I hope to see, or we hope. To see the next board aids and. All these kind of the major kind of projects that we saw in eTh. I hope to see. I certainly have been working on something for the last two years, since the bear market. I hope to see that through. I'm hoping to launch by the end of this month.

Maintaining Attention in the Ecosystem

And I think, I hope that brings some kind of attention to the ecosystem. But I think collectively in this attention economy, maintaining that flow, maintaining that attention is going to be the challenge. Right. For, for us. So, as you know, in this attention. Economy, people get quite speculative and that's right. You know, so every single person on this space, I think here is speculating on other chains and potentially other projects.

Future of Bitcoin Ecosystem

But at the end of the day, if we create this kind of culture, that it's okay to speculate, but come back home, come back to bitcoin, and that money flow naturally will kind of reenter the ecosystem and then hopefully stays here. And that's the most exciting thing for us, for the bitcoin ecosystem. I guess money flows from project to project and ultimately stays here because bitcoin is the safest asset, right? So when some other shit coins or some other projects drop 90%, bitcoin drops, what, to 20, 40%.

The Resilience of Bitcoin

So realistically, unless you sell and moved back to fiat where you trigger tax event, you would want to stay in bitcoin in that sense. So I think that's what I'd say. Exciting times for us, I think. Definitely. But we need some catalysts, like the next yuga, the next some other biggest money moving, big attention, economy creating, you know, narrative shifting kind of events. I'm certainly working towards that myself. Leo, thank you.

Emphasis on Communication

And by the way, Trevor, love your intros, man. World class, world class intros. Thank you, Leo. Trevor does have a radio voice. It's much better than when the yan and Leonidas wins the intro. It's done. I do just want to shout out, one quick thing, funke, I appreciate the takes. I think you said, like, the moving into fiat is when the taxable event comes.

Clarifying Tax Events in Crypto

There's a lot of people that like, think this. Like, at least in the US and most countries, the taxable event is anytime anything on chain is. Is being bought or sold for a different asset. So, like, if you're doing a uniswap swap, anything, these are all taxable events. And I just want to be clear to folks because I think like the IR's and the US at least is getting much more serious about cracking down on this. And I think that kind of flew. It probably like kind of flew under the radar for a long time.

Increasing Regulatory Scrutiny

I think those days are over. I don't think. I don't think the only taxable event is moving to fiat anymore. And I think you got to track your unchained stuff as well. So just shouting that out for the DJ's out there who are negligent in their tax practices. The IR's, I think is a little bit more serious about this stuff now. And I would put probably be paying your taxes and realizing that every on chain transaction where you're doing a swap of any asset is a taxable event.

Final Thoughts and Community Engagement

Geo, what's up, dude? Hey, Geo, I saw your mic come off, but we can't hear you. Okay, Geo, we can't hear you. Maybe drop down, come back. Going to go to Charlie. In the meantime. At the risk of sounding too tacitly endorsing of meme coins. I love meme coins. They're awesome. It's very surreal to me to see Murad be like the new ascendant guy. Because Murad's been around in the bitcoin. Space for a long time.

Reflections on the Bitcoin Community

In fact, I actually have a lot. Of my own, like formations of how to think about bitcoin coming from him about over half of decade ago. So it's, I, you know, you love to see it. I will say one of the very first things I inscribed on bitcoin was actually a chart marad made in their early 100 inscriptions just because it was. So interesting and important to me. So I'm interested to talk about that sometime more down the road.

Anticipating Future Developments

Yeah, that's awesome. We're going to try to get him on the show and hear what he has to say. Is a bitcoin Maxi. Believe it or not, I think a lot of these shitcoiners don't understand maybe history in this space, but yeah, he's absolutely a bitcoin maxi. It's full stop. This guy's a bitcoin maxi and I definitely think is aligned with a lot of the stuff this ecosystem is doing. Geo, I got you back up on stage. Can you try talking again?

Community Narrative and Emerging Figures

Hello? Hey, yeah, much better. No, it's better. A perfect topic with Murad because I. Posted something yesterday and actually I wanted. To justify a little bit the post. So you commented, Leo, because you said that the post that he said that. Dog was trash was like two months ago. And yeah, actually the intention of the post was that hear it out, how strong we are as an I, as an army.

The Power of Community Engagement

Almost 50k impressions with under 10,000 followers. So that was a little bit to show that the things that he said in the crypto fair, they're right. He's right. He has really a good style of explaining meme coins, how important they are for the community and stuff like that. But actually, I was a little bit sad that he didn't mention dog in his tweets because he was not invested. That was the reason. To get this post on.

Encouraging Community Support

And actually, I like his views that he's like that. And I would appreciate if he would. Come to your space, Leo. So that was, would be nice. Yeah, look, I mean, I saw this kind of narrative spinning up over the weekend of like fuck your ad kind of situation. And yeah, I mean, look, here's the thing, just, I gotta put this in context so that people understand it.

Encouraging Understanding Within the Community

I'm not gonna ever share, like specifically what I'm talking about with people in their private DM's but basically, like, I don't think this guy's the enemy, guys. Okay. Like, this is a tweet from two months ago. He basically screenshotted like the top 25 meme coins and just basically, you know, said my three meme coins are good and everything else is trash. And he just put trash, trash, trash.

Reflections on Community Dynamics

And yes, dog was one of them. And this was when runes were very much dead. And let's be honest, like, the sentiment was very poor around runes two months ago. So I personally don't knock him too much on that, I think, you know. Yeah, basically all I'm gonna say is just, let's be friendly to this guy, the runes bitcoin meme coin ecosystem. Let's be friendly to him. Let's not turn him into an enemy and consider him like the Solana guy.

Building Relationships

I honestly don't think that's the case. I think that he is very much a bitcoiner at heart, actually. And there's reputational risk that comes with tweeting about anything, guys. So there's always this pressure you have to tweet about my, like, I get this every day. It's like, why the hell didn't you tweet about this? Why didn't you tweet about this? Like, look, you're not entitled for me to tweet about shit, okay?

Managing Expectations

Like, I'm not, like, me tweeting about your thing is basically me, you know, in some level, endorsing it and promoting the price that go up, that is not a right that you have for me. So I very much think, like, if this guy ever wants to tweet about stuff related to bitcoin or whatever his activity is, there, you guys probably should be very nice to him, is what I would basically say. And this whole thing of vilifying, I don't think works.

Reflections on Community Practices

It definitely doesn't work for me when people do it to me. So that's my little take there. And I think this guy's a bitcoin, Maxi. I think there's no reason for us to be super hostile towards them. And that's basically what I'm going to say. So, no, actually, I didn't insult him, even though there's some comments. From his, from his camp said that I was harassing him, but it was.

Closing Remarks on Community Engagement

Not an harassment, actually. I said that he is richer and more famous than me. So that's a compliment, actually. And yes, but yeah, I understand you. So I appreciate anyone who is coming to dog and even not, we should. Not be like to arrest people or to say, oh, your coin is shit.

Community and Culture

And stuff like that. But as a dog army, we are united. And I saw it under the post and I appreciate it. Look, half of me is like, I don't like that they're doing this. And half of me is like, I love that they're doing this right. These guys are going to bat for dog. Like, I get it. Like somebody called dog Trash and the dog army does what it does best. And you know, Bob, for that little piece of fun from two months ago, and, you know, it is what it is. That's a culture that we built. You know, we have a rating culture and that's what happened. And like, I get it's part of our culture at the same time. I'm just saying like, you know, take whatever I say with a grain of salt, but you know, just trust me, let's not be an asshole to this guy. I don't think it serves us in any way. Yeah, yeah. Awesome.

Exciting Opportunities Ahead

We're rotating a few folks here just to get some more speakers up, guys. But in the meantime, Trevor or Jan, did either of you guys have anything exciting that you wanted to chat about today? I mean, we need to talk about pizza pets. You know, I'm seeing some emails in my inbox, I am seeing some tweets from Trevor. So, you know, I guess I don't know if I'm gonna see Trevor in London this week because Ordinals London are happening and I don't know, there were some rumors that maybe around ordinals London we could actually see pizza pets live. So I don't know. Trevor, spill the beans. Well, I'm definitely not going to spill those beans, but we're giving away allocation to like any project. Like any project that wants allocation pizza pets. Assuming it's like not a project that hasn't launched yet or it's just starting. You know, like any project that's been in ordinals for a decent amount, like it doesn't be super successful, but you know, the form is up.

Inclusion and Tracking Progress

I just posted today, like, been working on this massive workflow because we had over 200 like partnership requests and the form is now live. So if you have a, if you're a project in ordinals, or even outside of ordinals as well, we want to bring more people into ordinals. We're giving away free pizza pets to any community that fills out the form. And there's even like an airtable you can track the status in real time as we, you know, vet your answers and your allocation. And, yeah, we're, I'm super excited. We're gonna be giving out tons of free pizza pets and. Yeah, the finish line is pretty close. Okay, so can we get that pinned above? Yeah, so it's pinned above, guys, like, if you want to get this airdrop for community, it's very simple. Trevor, you'll basically, it'll take what, like five minutes, ten minutes? Yeah, I think it's eight.

Inclusivity and Opportunities

It's like eight minutes. The first form is like, is a bit thorough, but it depends on how you answer it and, like, what criteria you meet and, yeah, like, even if you are, don't have a project, but, like, you have an app or you're a builder in the ecosystem, like your hands, I'm looking at you, or pool space, you know, you should put up there. You know, we want to give allocation to as many people who have communities. You know, this is a free opportunity for you to give value to the people in your community. Yeah, like, we want as many people to participate in this game as possible because we put a lot of effort into it. It's gonna be a lot of fun, and I think it, I hope that it will show something that people didn't know ordinals could do, and then it'll help, you know, push the type of stuff we do on ordinals to the next level. And you're doing this like totally free and fair, correct.

Transparent Airdrop Process

Like, it is literally just an airdrop to basically as many projects as possible. Right. Like, you're just trying to spread this and get everybody excited on board people to the space, correct? Yeah, 100%. And like, we put the criteria out there. We inscribed the criteria. You know, we're giving a, like, more allocation to people who have, you know, participated in our events or sponsored our events, or holders of ninjas, if they are a builder. But otherwise, it's like very transparent criteria, and you can read all about it. You just fill in the questions, and I'll tell you what your allocation is. We just asked that, like, partners pay for the gas for their airdrop because there's going to be like several hundred partners, and we think it's a good filter. If you're not willing to pay like a dollar, one per airdrop, then you probably don't really want to participate.

The Future for Ethereum and Bitcoin

So that's the only cost. Otherwise, totally free for your community as a project leader. Just send us a couple bucks for the gas. Okay, very cool. Well, Trevor, you know, it sounds like you've given the alpha that you're able to give for today. Maybe next week we can get, we could pry and get some more juicy alpha from you, but this is pretty dope. So yeah, pinned above everybody if you want to. It sounds like literally anybody can basically submit. Like, there's no harm in submitting and getting rejected. So, you know, go swing for the fences and submit, guys. There's no reason. Really nothing. Deal. Awesome. Well, thank you for that. Billy, it's been a minute, man. How you doing? Yo, what's up, guys? Gonna be a big week.

Market Dynamics and Trends

Yeah. I kind of popped up around the mempool space segment. I feel like it's kind of been belabored, but I've always loved that, you know, it's just this kind of open source tool and it's just so prominent and important at this aspect and I just love it so much. Leo, like you said, we all just kind of have it, have an open tab and initially they never planned for like thousands of bitcoiners to constantly just have the tab open. So they had to ramp it up a bit. But I mean, I even have an art project that's just kind of inspired by their UI and their skin and I. How you visualize blocks? Yeah, super impactful. Felt moved. Had to donate a little bit. Totally. Yeah. I won't rehash and everything I'm doing.

Shifts in Market Sentiment

Well, pretty bullish. I think a lot of the folks that sold in May and went away on vacation and everything are kind of getting back. Seeing that runes are not dead, ordinals are not dead. Bitcoin has been kind of chopping and consolidating for nine months and, you know, I think it might be time for a breakout. It's good times. Excited. Starting to see some really cool drops. Very excited about pizza pets. Ords are dropping some runes. There's definitely, you know, a lot more activity and action and cool stuff to look forward to. But yeah, seasonality is powerful in financial markets. I think we all knew, you know, we'd see some kind of upside activity, hence October. But yeah, doing well. Couldn't make it to Amsterdam but I'm super stoked to head to Miami and I'm trying to do some cross mingling a bit.

NFTs and Community Building

So I'm gonna hit a couple of these NFT events and just try and onboard people like NFT Paris in February, Martha in Texas, which is kind of more. More of an art oriented place because I still feel a bit disconnected from some of my Eth homies. You know, a lot of people came to ornals early on from, you know, ETH and haven't looked back, but there's still a lot of people over there that there's just so much value that's been built. They kind of are still dragging their feet in a way. So trying to do a bit more commingling and merge those two worlds a bit because, you know, you see all these huge one of one sales. I don't know if you guys just like follow the super rare bod or Roger Dickerman or something, where you see some of these sales and they're just like, they're still NFT photographs selling for fifty k and still haven't seen that kind of collector ship come to bitcoin in a meaningful way.

Artist Contributions to the Ecosystem

Of course there are huge sales on red eyes, ombs, that sort of thing. But yeah, grinding, pushing the space forward. I'm kind of plotting my next big project for 2025 and there's just a lot of fun pockets to play with on bitcoin. The last thing I'll say about the mempool space thing is they have been pretty supportive in a indirect way. Like even just showing, you know, which transactions contain an inscription, shout out to Johannes for the work he did. But, like, you can't deny like nine months of bitcoin price sideways. Thank God we have cool stuff happening on bitcoin because in past cycles that is like the most boring part of crypto Twitter, people PvP attacking each other. I mean, thank God we have like, meme coins with pictures. Like, I just think it's a great time to be in the bitcoin ecosystem.

The Importance of Specialization

Building on bitcoin. Optimistic. Yeah, it's a lot of fun. So it makes sense that, as someone mentioned, like, if more than half of the activity on a daily basis is in, you know, tokens on bitcoin or art on bitcoin. Yeah, it makes sense to incorporate that into your open source project that explores bitcoin. So I'll leave it at that. Good to hang out. It's going to be a big week. Yeah, man, look, I think it's going to be a big week too. And I love that you shouted out, just like, photography nfts. I think this is really exciting. I pinned it above. So this artist path, she's a photographer. She's actually a landscape photographer. She travels around the world. I mean, the photos she takes are just incredible.

Innovative Art and Photography

I don't even know how you do this. It's honestly, you just have to look at the photos to appreciate. But she takes these amazing photographs all over the world, and she just inscribed 24.6 million pixel, 3.78 megabyte photo into bitcoin. She paid $5,400 to do it. I pinned it above. The level of detail is just absolutely incredible. It's. It's a beautiful photograph. Encourage people to go click on it and actually zoom into the photo. Like, you can go really in depth there. I mean, I just love everything about it. I think it's, you know, what. What an incredible medium for photography. And FTSE to actually put the photo on chain, it makes so much sense. And then the fact that the thing is, the resolution that it is, I mean, yeah, I just.

Impressions and Expectations

I was blown away. I was blown away. Like, if you told me that photo would be stored on bitcoin back in February of 2023, I would have said, you're crazy. There's no way that makes sense. Yeah, Cath is incredible. Like, been following her work for, God, I don't know, six years now. And a big part of her story is, like, how arduous it is to get to these places. You know, we've seen a lot of tremendous landscape photographers, but, like, the Bts stuff, she'll post of, like, just overnight in a storm on this mountain, where you're like, bro, I don't know. I don't know if she's gonna make it. Like, that kind of adds to her story and her narrative, and I'm so stoked. I know Neuro and Eloc have been close with her, and in a way, you know, we've kind of onboarded her to ordinals, and I think that's just dope.

Community Connections and Events

So gonna go like that on ord IO right now. Love it, love it. Yeah, she. Yeah, she's got a cool job. That's a sick job to have. It's also a dangerous job. I agree, but, yeah. Glad, glad, yeah. Shout out elocondero for onboarding her to the space, and, like, what. What an incredible place to have your photograph stored forever. Very, very happy for her. I'm trying to get Jan back as a co host. I'm not sure what the deal is. That was pretty much the main things I wanted to discuss today, guys. Anybody have other topics they want to bring up? I don't know. We could always go into a slightly spicy segment, like the pups, the bitcoin puppets, and the dode monkeys have been flipping each other every hour for the past three days.

Trends and Rivalries in the Market

The puppets will flip the node monkeys, and then the node monkeys will flip the puck. But it seems like decently healthy rivalry going on. I don't know if we want to chat about that. It's also at risk of. At risk of having open warfare on the ordinal show. I thought it was kind of. It's kind of interesting and healthy that there's a competition like that happening. I saw, Billy, your hand go up and then. Yeah, Leo, before we go right into that, I'm curious, your take on just the Ethereum ecosystem in general. I try not to post too much because I don't want people feel like, you know, I'm kicking people when they're down.

Market Conditions and Comparisons

But ETH has underperformed bitcoin by, like, just about 40% this year. So if you just held mostly ethereum, you know, you're down almost half against bitcoin, which is just insane. Like, it's almost like you can't even compare the two. Bitcoin has, like, you know, flown past. I'm curious, you know, you coming from ETH and a lot of other people, like, what's your take? Like, is EtH struggling to find what it's good at and what it's used for is like all the just development already preventing it from. From dying. Like, what do you see in the near Tor, near term and long term for you? Honestly, dude, it's kind of crazy. But, like, you look at something like bankless.

Observations on Industry Changes

This was like an institution on Ethereum. These two guys were like massive influencers. They get like 40 likes on their tweets now. Like, what the hell happened to that ecosystem? It's honestly kind of depressing. I think Solana. Solana and bitcoin just sucked a lot of these guys away. I think, literally, Solana does the kind of djen, fast paced stuff much better than ethereum, and bitcoin does the decentralization and security and provenance much better than ethereum. And it's like, where does that leave Ethereum? They're trying to be everything, and then in the reality, they ended up being bad at everything or mediocre at everything. And, yeah, like, it's hard to take someone seriously when they're kind of saying ethereum is on the same level of bitcoin anymore.

Market Comparisons and Future Expectations

That's not what people think anymore. Right. Ethereum's huge edge was it had all of this web three stuff and bitcoin didn't have, and now that bitcoin has it, why the hell would you use Ethereum? Is kind of my opinion. So, you know, you're looking at $1.3 trillion for the market cap of bitcoin now and then 317 billion for ethereum. This is like very clearly not a competition right now at all. Ethereum makes up about 13.8% of the market cap of all of crypto. BTC makes up 56.8%. It's literally at like kind of high position right now. Yeah, I don't really know what to say other than, like, I think it's attention is shifted because, you know, for the exact reasons I said, solana and bitcoin do these two things better.

Impressions of Ethereum's Future

They specialize. Ethereum tried to be, this was army knife. And then, you know, Solana specialized in bitcoin. Specialized. And that's what the market wants. They don't want, they don't want the everything thing where I'm still paying high fees. Like, it doesn't make sense. I'm paying high fees, but I'm not on the best chain. Like, that doesn't make sense to most people. It's like, if I'm not on bitcoin, I might as well be on a solana. I actually think that makes a lot of sense. Right. If I'm not on bitcoin, I might as well be on something that where decentralization doesn't really matter that much. And I think that's a very rational way to think, actually.

Market Realities and Perspectives

And the market is fairly wise in that. So, yeah, it can. The bromance between Solana and bitcoin ecosystem systems continues at the expense of bankless. So unfortunately, if you're an ethereum. Maxi, again, I'm not just saying this to kick you all year down. We've been saying this on the show for 18 months and it's just playing out. And I mean, I'm going to pat ourselves on the back. Robert, what's up? Do you want to, do you want to comment on the competition or the death of ethereum? Honestly, I was just hoping to bring in the node. Monks versus puppets spice. Interestingly, there is quite a bit of volume in the last 30 to an hour.

Market Dynamics and Novelty

I've been a little distracted. Someone punted, I think, around four bitcoin into puppets in the last hour or so. And Nodemon slowly catching up as well. Looks like there is quite a big bid wall or list wall on both collections. Primarily monkeys, which get farmed quite aggressively just in the price range right now. There's like, I don't know, 50 listings in a 0.01 BTC range. So heavily farmed collection. But yeah, lots of action. It seems like the bitcoin price action is bringing out some buyers in the ecosystem. Yeah, totally. And to be completely honest, like, yeah, it's interesting, right? So puppets was actually below.com monkeys when this space started and then it flipped during the space, which kind of illustrates the point that I'm making.

Competition in the Marketplace

Like they're going back and forth. These things are both very low market cap right now. So it's like, I don't even think it's something like super crazy to be celebrating because these things were eight times higher a couple months ago. But yeah, look, there is a competition kind of going on and I think it's healthy for all ordinals collections. I'm just like looking at the, you know, the top market cap rankings right now on Magic Eden. It's, it's bitcoin puppets node monkeys Runestone OMB quantum cats bitcoin frogs bitmap OCM Rsic pizza ninjas bitcoin wizards nat cats bitcoin punks, honey badgers. That's the kind of top 15 or so there.

Future Growth Potential

And look like all 15 of those guys are in the ring together. And in my opinion, like any one of them can kind of break out. Like when you have a, the top collection only being worth $115 million. I mean, I'm, you know, I'm not going to make predictions here, but I would be shocked if these things don't go to billions of dollars. The top ones don't go to billions of dollar market cap during this cycle and any of those guys are in the game. So it's like we will see how this all plays out, but very kind of healthy. I like that. It's like, it's like this kind of, there's so many good projects in there that I just listed. That's a great problem to have. Okay.

Ecosystem Comparisons and Future Expectations

Like this is amazing for our ecosystem. And like I look at the list of top Ethereum projects guys on Opensea and then I look at the list of the top 15 or so bitcoin projects that I just listed. I think we're flipping these guys by market cap. Like it, I don't think it's going to take that long, actually. I really genuinely believe that's going to happen. And that's to me that's like a massive thing. Flipping by market cap Ethereum NFTs is going to be a huge win for the ecosystem. And then I think the runes meme coins flipping Solana meme coins is another thing to watch both of these, by the way, are at around 15 or 20% the way to flipping right now, both those metrics, and I'm going to be watching those closely.

Market Speculations and Dynamics

So runes, flipping bitcoin meme coins, flipping Solana meme coins and bitcoin PFP, bitcoin, nfts, flipping ethereum, nfts. I think that's two really big. Two really big things to watch. And again, no good. I could be totally wrong. I'm not, you know, I'm not promising that this happens. These are, you know, still a ways to go to do this, but it's. I see no reason why. These are incredible set of ip that we have here. Roll the clock back. You know, twelve months were very much critiqued that the issue was that we didn't have enough good collections, this sort of thing since then, you know, nodemonkeys wasn't around twelve months ago.

Evolving Ecosystem and Future Outlook

Quantum cats hadn't been launched. Pizza ninjas hadn't been launched. A bunch of these nat cats hadn't been launched. A bunch of these things hadn't been launched. And we just have solid. We have solid Pft collections now to choose from. Many, many a vibrant culture of PFP collections. And I think it's very exciting. So, you know, my prediction is we're flipping. We're flipping. Both those things are going to flip at some point here during this bull run. I feel pretty confident making that prediction, but obviously could be wrong. Do you want to add anything to that, Robert?

A Unified Vision for the Future

Yeah, I mean, I like everything you said and you know, obviously you're a big advocate of dog as a meme coin, but, you know, it sounds like your thesis would apply to ordinals very much. So it's not just dog and the meme coins that are going to rip. Like, should our bitcoin focus thesis manifest, but also all of the big collections, pizza ninjas, nodemon puppets, all of the major blue chip assets will probably send if thesis that bitcoin native assets is that guy. So yeah, we're all along for the ride. I'm excited to see it. Yeah.

Bitcoin's Web Three Potential

So my thesis is that bitcoin web three, right, is going to surpass Ethereum and Solana and other blockchain ecosystems. Web three. So the scale of bitcoin is much larger than these other blockchains. And I believe that each of these use cases defi NFTs meme coins will have more value, more activity than any other chain through bitcoin. So yeah, that absolutely applies to nfts. I think in general I have pretty high conviction saying that NFTs as an asset class on all blockchains will have its moment. Right. It's very interesting where the ordinals kind of PFP collections pumped super hard, but actually the rest of the NFT asset class on Ethereum was just flat I for like the whole year and were pumping against a flat environment.

Anticipated Market Activity

So I'm really curious to see what happens when crypto punks go back to 5 billion and to 10 billion. What the hell is that going to do to, you know, ordinals and stuff. Right. So I do think NFTs in general will have their moment during this bull run. I would be extremely shocked if that didn't happen. And when that happens, I think the bitcoin nfts are going to just way outperform the other nfts. So that's my take. And we'll see if that plays out or not, obviously. But yeah, I, you know, obviously have bags and, you know, have conviction in that and you know, we'll see what happens. Johannes and then press and then Dogfather.

Personal Reflections and Future Outlook

Yeah, I just wanted to say my was up since we talked about Ethereum being down but I not sure if we should still continue to talk about my backs, which are super much down. Yeah, I still follow all the channels. Bankless. They somehow converted a little bit into. Yeah, we are. We were always bitcoin fans and Solana is also cool. So at least their wording is completely changed. Now. Of course they looked on the BTC Ethereum ratio, but they loved bitcoin all the time, of course. And the hardcore camped around. Anthony Susano from the Daily Grey right now in their discord they are trying to do something like let's fight against the fat. I'm going to reply to everything where things are obviously wrong.

Market Engagements and Observations

So the hardcore solidity developers are still trying to somehow convince the people that Ethereum will get momentum back. I hope so because I'm so much down with my portfolio. Let's see. But yes, they are trying to fight Safat. I still have so many solidity codes lying around. So I hope that somehow some of my stuff will work again or that people calling my smart contracts. But meanwhile I'm happy with ordinance. Yeah, I mean look, my thing about Ethereum is I don't think this is improving solidity or doing this roadmap situation. You got to understand why the market is doing what it's doing.

Security and Progress in Development

And like these guys will not acknowledge like the first step is that you have to acknowledge that bitcoin is more secure, more decentralized, more immutable. You have to acknowledge that. If you can't acknowledge that's why BTC is so valuable and ETH is not, then you're going to have a real problem steering your blockchain in the right direction. Right, yeah. From a developer. Sorry. Yeah, go ahead. No, go ahead. Go ahead. From a developer standpoint, we can learn so much about how they do the development on Ethereum, what it connect.

Learning and Growth Opportunities

You don't have to fight with low level APIs. Everything just works. Spinning up a local test network and full development studio in the browser is awesome. So they have some years where they added a lot of stuff into the developer experience, which is super great. So I hope we can learn a lot of the great tooling they have and I think they will find their niche back. I think there's a great middle ground, but bitcoin, super decentralized but very slowly changing. Ethereum in the middle where you can do fancy stuff with solidity. And Solana. Yeah.

Transaction Speeds and Market Insights

If we really need thousands of transactions in a second right now, I hope that the CRM is undervalued because, yeah, my backs are down, so I like it because I hope that it goes up. I have also big opium. Look, we'll see. I'm sure, I'm sure during the cycle, at some point Ethereum will have some momentum, come back to it. I don't, I don't think that'll just go on forever. But look, I just fundamentally, I don't think there's like a huge desire for this like super expensive blockchain that's the number two for security and decentralization.

Current Market Considerations

I do think there's a lot of logic where it's like, look, either use the real thing or use, or make a feel comfortable move, you know, operating in this environment where decentralization and security don't matter as much. Much. And there's like this weird middle ground that aetherium shows them and they're just getting eaten out. They're getting eaten up on either side by they're getting eaten up on either side by Solana and bitcoin. And that's not a good spot to be in. So I think you have to acknowledge that's the problem. And these guys are like, they won, they were winners for too long and they're too cocky and aren't willing to acknowledge the reality of just like what the users of these blockchains wants.

Strategic Directions for Ethereum

And if you're not going to be the best at one thing, then you probably should pivot to something else. Specialization, I think is important. And like bitcoin has a very strong specialization and what it does not change. Like the code is very much, you know, classified in many ways. And like this blockchain is like very, very safe, the safest place to store value and trust that some developers aren't going to come in and like Jack everything up. And then Solana's the best place where there's like tons of DJ's and you can do like a million transactions per second or whatever. And it just, it makes me wonder like why would we have Ethereum?

Meme Points and Crypto Trends

It's actually like a pretty interesting intertwining of social and geopolitical trends kind of spun into why meme points have the potential to explode regardless of chains. So I thought that was pretty interesting. I liked his interview with rug radio and his recent talk. I think it was in Amsterdam, I'm not sure where it was, bitcoin 2059 or whatever. 49. So yeah, he's pretty interesting character. I started to follow him. I usually don't do that when I listen to people rant about crypto, but he was pretty compelling and I think there's no question he will dive into runes. And the second that he even hints at runes, just expect insane fee spikes and volatility across the rooms ecosystem. And similarly with ordinals, although he has started to put those in his top ten.

Influencers and Market Trends

And I'm not saying because I believe the guy or agree with everything he says, because I don't. I just think that there are enough people who've been throwing their I, their money recklessly into random shitters that really low quality bad actor influencers have been telling them to for a long time, and now they've anchored themselves in like a relatively reasonable thesis because of Marad. So I think that will contribute positively to consolidation of all this money that's been floating around in random rug pulls, across chains, into like, truly high potential meme coins and shit coins. So that's what I have to say on the Marad topic. With or without him, though, we're flipping sol. So that's just no question. In regards to Solana.

Concerns about Solana

It does blow my mind that someone like him and all these VC's have done their research on the caliber of their investments, but they have not done their research on the chain itself. I don't think I personally, and I might get some flack for this and people out there might hate me or think I'm flooding their bags. I like Solana. I like trading on it. I will never keep a large amount of money on that chain for many reasons. And the top reasons are there's less than 25 validators that can collude to pause, shut down, reverse, rewind, freeze, whatever the network. I would be very surprised if the core Qualcomm developers that created Solana did not have a backdoor into the network to prevent serious bad actors like terrorist organizations and, you know, trying to fund nuclear development in terrorist countries from doing so with Solana.

Security Risks with Validators

So I would. I really do question whether there's a backdoor there, although that's just pure conspiracy theory. The validator thing is true, though. And if any government were to subpoena Anatoly and the team, I really do think they'd hand over the keys. So and on top of that's beside the point. Forget the manual, things that can be done to fuck the network up. We've seen that in the middle of the bear market, it couldn't handle the maximum volatility. And I think that it's going to get pushed to its limits yet again in the bull multiple times, and there may result in freezing, pausing or stagnation of the network for extended periods of times. And I think people really have taken that for granted. I was involved in the not involved, but I was trading on that network during the very first time that the network was frozen.

Impact of Network Issues on Trading

And that was, to me, it was a red flag signal immediately way back then. I think it was like 2021 many years ago. And so I don't ever keep significant capital on Solana. And I think that it's possible this doesn't happen. It's possible that nothing happens to soul for the next 50 years, in our lifetimes, and nothing ever bad happens. But I also think it's possible it does. And when it does, these shaky handed meme coin traders that panic at, like the, like, one person not, you know, tweeting for two days, they will not be able to handle this in a bull, especially if it's prolonged. Like, we've seen them fix it within 24 to 48 hours. But that doesn't guarantee that the next time, it won't take a month to get things back to normal.

Things to Consider About Significant Investments

So I would just be really weary about like, aping like, significant amounts of money onto a chain that's controlled by a small number of entities, especially, you know, they say 25 on the different validator dashboards, but I would imagine it's more like four to six, four to eight, with multiple entities controlling multiple validators that are all in communication and can easily collude. So that, you know, bitcoin solves this. Bitcoin, this does not happen with bitcoin. Cannot, will not happen with bitcoin. I think with bitcoin ordinals and runes, the main considerations would be like, if coinbase and binance actually lists runes, it's going to cause significant on chain activity which will disrupt and change bitcoin indefinitely.

Hesitation to List New Cryptos

And I think that's why they've been so reluctant to immediately just list these, because if they're traded on centralized exchanges and there's arbitrage opportunities, people are going to start buying on chain. You know, the chain fees will change. It's going to disrupt what institutions have implemented with ETF's, it will cause issues. So I'm bullish on it. I think it will happen. I think Coinbase, green lighting, taproot makes it pretty clear where they're. Where they're headed, but it's not without potential repercussions. And I think that if they do this, we may actually see either a soft or a hard fork, and then it will be a real question mark. Where do the validators stand? Where do the miners stand?

Market Movement in Response to Changes

I think most miners are in this for profit, and they'd be, like, really stupid not to continue to support activity on the network that has been, you know, resulting in exorbitant fees and rewards for them. But, yeah, I got to get back to work. I hope that my takes were well received and not seen as FuD. I'm just being objective. I like Seoul. I trade on it. But you can't fade the king, and the king is definitely coming for its liquidity. And, oh, by the way, if there is a network freeze, if there is Fud for Seoul in the next run, expect insane, insane shifts into bitcoin runes and ordinals.