Deluged by NFTs and memecoins, Bitcoin has suddenly become a worse version of Ethereum. There are conflicting ideas about how to fix it.
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Ordinals turned Bitcoin into a worse version of Ethereum: Can we fix it?
The launch of BRC-20 tokens and Ordinals NFTs on Bitcoin has transformed the No. 1 blockchain overnight into a clunkier version of Ethereum.
The core developers and miners who signed off on the network’s Taproot upgrade in November 2021 never envisaged this would be the result. Bitcoin now suffers from many of the same problems that have bedeviled Ethereum for years, including scammy memecoins and shitcoins, NFTs of monkey pictures hogging block space and skyrocketing transaction fees.
The network is even having to deal with incidences of miner extractable value (MEV), whereby miners profit by reordering pending transactions.
Mati Greenspan“I’m kind of upset at myself for not realizing,” says Quantum Economics founder Mati Greenspan, a Bitcoiner since 2013.
“It took these guys starting to hype up JPEGs on Bitcoin until I was like: ‘Oh shit, what did we just do?’” He laughs ruefully.
Ordinals turned Bitcoin into a worse version of Ethereum: Can we fix it?
Deluged by NFTs and memecoins, Bitcoin has suddenly become a worse version of Ethereum. There are conflicting ideas about how to fix it.
Ordinals turned Bitcoin into a worse version of Ethereum: Can we fix it?
Deluged by NFTs and memecoins, Bitcoin has suddenly become a worse version of Ethereum. There are conflicting ideas about how to fix it.
Ordinals turned Bitcoin into a worse version of Ethereum: Can we fix it?
The launch of BRC-20 tokens and Ordinals NFTs on Bitcoin has transformed the No. 1 blockchain overnight into a clunkier version of Ethereum.
The core developers and miners who signed off on the network’s Taproot upgrade in November 2021 never envisaged this would be the result. Bitcoin now suffers from many of the same problems that have bedeviled Ethereum for years, including scammy memecoins and shitcoins, NFTs of monkey pictures hogging block space and skyrocketing transaction fees.
The network is even having to deal with incidences of miner extractable value (MEV), whereby miners profit by reordering pending transactions.
Mati Greenspan“I’m kind of upset at myself for not realizing,” says Quantum Economics founder Mati Greenspan, a Bitcoiner since 2013.
“It took these guys starting to hype up JPEGs on Bitcoin until I was like: ‘Oh shit, what did we just do?’” He laughs ruefully.
Ordinals turned Bitcoin into a worse version of Ethereum: Can we fix it?
The launch of BRC-20 tokens and Ordinals NFTs on Bitcoin has transformed the No. 1 blockchain overnight into a clunkier version of Ethereum.
The core developers and miners who signed off on the network’s Taproot upgrade in November 2021 never envisaged this would be the result. Bitcoin now suffers from many of the same problems that have bedeviled Ethereum for years, including scammy memecoins and shitcoins, NFTs of monkey pictures hogging block space and skyrocketing transaction fees.
The network is even having to deal with incidences of miner extractable value (MEV), whereby miners profit by reordering pending transactions.
Mati Greenspan“I’m kind of upset at myself for not realizing,” says Quantum Economics founder Mati Greenspan, a Bitcoiner since 2013.
“It took these guys starting to hype up JPEGs on Bitcoin until I was like: ‘Oh shit, what did we just do?’” He laughs ruefully.
Libra-related Sui blockchain fixes critical bug that put ‘billions’ at risk
The vulnerability was located in a file that translates human-readable code into machine language for storage.
Community responds to US democrats backing SEC’s crypto authority
A community member expressed their decision to part ways with the party, arguing that the Democrats are playing god with the "future of American innovation."
Bitcoin trader eyes CME gap with $24K BTC price dip target in play
Bitcoin may be in line for a final trip lower before recovery, analysis forecasts, with BTC price still lacking direction.
Bitcoin trader eyes CME gap with $24K BTC price dip target in play
Bitcoin (BTC) surfed $27,000 on May 16 as traders stayed buoyant about upside continuation.
BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView$24,000 BTC price still in play, says trader
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD still focusing on the $27,000 mark, having dipped to $26,870 after the daily close.
Still lacking direction, traders hoped the pair would either attempt to exit its narrow range or touch more significant levels up or down.
For popular trader Crypto Ed, potential targets included the “gap” in CME futures created at the weekend.
“It’s really on the lower timeframe where the action is now; higher timeframe is not really exciting,” he summarized in his latest YouTube update on the day.
BlockFi used customer money to buy $30M insurance, creditors claim
BlockFi said last Friday that it might not generate value for creditors by selling its cryptocurrency lending platform.
BlockFi used customer money to buy $30M insurance, creditors claim
BlockFi said last Friday that it might not generate value for creditors by selling its cryptocurrency lending platform.
EU Council approves MiCA for clear crypto regulation
European Union Council finance ministers vote to adopt the continent’s Markets in Crypto-Assets legislation following unanimous approval of new legal frameworks.
Crypto bank runs in 2022 catalyzed by institutional withdrawals: Research
Research suggests the lack of insurance for depositors on crypto platforms induced fear among retail and institutional clients, leading to heavy withdrawals and a liquidity crunch.
Bitcoin Cash enables CashTokens upgrade on its network
BCH developer Jason Dreyzehner states that the latest upgrade incorporates support for CashTokens, which he considers a “tool for expanding financial access.”
Signature Bank failed to understand risks associated with crypto: FDIC chair
A related report by the FDIC chief risk officer cited poor management as “the root cause of Signature Bank’s failure.”
Optimism’s major ‘Bedrock’ upgrade set for June 6
The much-needed upgrade will provide a number of improvements across the network, and come at a time when competition in the layer 2 space has been heating up.
Optimism’s major ‘Bedrock’ upgrade set for June 6
The much-needed upgrade will provide a number of improvements across the network, and come at a time when competition in the layer 2 space has been heating up.
Apple's new headset could put a rocket under metaverse tokens
Apple is scheduled to release its highly-anticipated mixed-reality headset in the coming weeks, a development that some believe could breathe fresh life into the metaverse industry.
In January, the native tokens of blockchain-based metaverse projects Decentraland (MANA) and Sandbox (SAND) witnessed significant surges in price, due partly to swirling rumors about Apple’s venture into mixed reality.
This trend was pointed out in a May 15 tweet from independent developer Udi Wertheimer, who in a backhanded comment to the absurdity of influencer-driven memecoins, spoke of the upcoming release as a potential driver of metaverse token prices.
In conversation with Cointelegraph, eToro market analyst Josh Gilbert believes the new headset will set the markets ablaze, owing in large part to Apple’s proven ability to deliver high-quality, market-shifting products, stating:
“When Apple does it, they usually do it right.”
Celsius moves $781M in stETH just as Lido withdrawals open
The bankrupt crypto lender has been moving its massive stash of staked Ethereum.