Monday, June 23, 2025
  • About us
  • Economic Calendar
  • Price Predictions
  • Coins Alerts
  • Crypto Portfolio Tracker
  • Exclusively from Our Partners
Cryptheory
  • Cryptocurrency List
  • Cryptocurrency
    • Cryptocurrency Exchanges
      • Top exchanges for trading Bitcoin derivatives
      • How to buy bitcoin without KYC
      • How to Trade Bitcoin – best platforms
      • Best platforms to buy Bitcoin by debit or credit card
      • Platforms for Grid Trading
      • BYDFi: Review and Guide
      • BingX: Review and Guide
      • Kraken: Review and Guide
      • Bybit: Review and Guide
      • Bitpanda: Review and Guide
      • Phemex: Review and Guide
      • Huobi: Quick Guide
      • Binance: Review and Guide
        • Binance Futures Guide
    • Bitcoin
    • Tether
    • XRP
    • Dogecoin
    • Avalanche
    • Stellar
    • The Open Network
  • crypto news
  • Crypto Exchanges Info
  • Analysis
  • Attractions
No Result
View All Result
  • Cryptocurrency List
  • Cryptocurrency
    • Cryptocurrency Exchanges
      • Top exchanges for trading Bitcoin derivatives
      • How to buy bitcoin without KYC
      • How to Trade Bitcoin – best platforms
      • Best platforms to buy Bitcoin by debit or credit card
      • Platforms for Grid Trading
      • BYDFi: Review and Guide
      • BingX: Review and Guide
      • Kraken: Review and Guide
      • Bybit: Review and Guide
      • Bitpanda: Review and Guide
      • Phemex: Review and Guide
      • Huobi: Quick Guide
      • Binance: Review and Guide
        • Binance Futures Guide
    • Bitcoin
    • Tether
    • XRP
    • Dogecoin
    • Avalanche
    • Stellar
    • The Open Network
  • crypto news
  • Crypto Exchanges Info
  • Analysis
  • Attractions
No Result
View All Result
Cryptheory
No Result
View All Result

Bitcoin NFTs – crypto community was divided

by Margharet Tess
March 28, 2025
in NFT
Reading Time: 3 mins read

The debate about ordinals inscriptions on the Bitcoin blockchain is getting heated. This is not surprising given the increasing proportion of block space eaten up by pixel graphics. Because like a dataset from BitMEX Research shows Bitcoin NFTs now occupy up to 70 percent of the Bitcoin blockspace.

The trend is actually still quite new. An ordinal chart was carved into the blockchain for the first time on December 14 last year. A monochrome pixel graphic of a skull can be seen.

According to BitMEX, up to 250 such data records per block are now finding their way into the blockchain – an exponential increase.

Bitcoin NFTs - crypto community was divided
Explosive increase in ordinals transactions per BTC block. Source: BitMEX Research

Debate gains momentum

In the crypto space, the Bitcoin function extension is controversial. Lightning developer Rene Pickhardt, for example, points out the inconsistency of the protocol. Proof of Work is originally a system that is actually supposed to prevent spam. From his point of view, the blockchain is still being littered with random data packages that have little to do with financial transactions.

On the other hand: Doesn’t an open protocol like Bitcoin have to bite the bullet and also allow non-financial transactions? At least that’s what Bitcoiners like Peter Todd claim. The core developer writes in response to Pickhardt’s comment: “The blockspace has a market”.

“precious blockspace”

The block space has a market, and that market is valuing it at 5sat/vByte;$0.19/tx if you want your tx to get in within the next few blocks.

If the market disagrees with you about something being “precious”, maybe you should rethink your assumptions.

— Peter Todd/mempoolfullrbf=1 (@peterktodd) February 8, 2023

Accordingly, the market decides which transactions get into the blocks and which do not. So if you want to send Ordinals NFTs, you have to pay for it. In the true sense of the word, there can be no question of spam.

Bitcoin NFTs - crypto community was divided
Inscription 10790. Source: ordinal

Record amounts for Bitcoin NFTs

However, the hype surrounding the Ordinals NFTs makes the hearts of crypto soldiers of fortune beat faster. Some pixel art is sold over the digital counter for six-figure sums. Up front: The Ordinal Punks, an Ordinals NFT collection that looks suspiciously similar to the CryptoPunks. According to Degen News, Inscription 620 changed hands for 9.5 BTC – the equivalent of $214,766.

  • Author
  • Recent Posts
Margharet Tess
Margharet Tess
Editor, Developer at Cryptheory Labs
I have been active in the cryptocurrency world for over 6 years, during which I have written countless articles about this sector. What fascinates me most about cryptocurrencies is their technological aspect and the problems they aim to solve. In the past three years, I have ventured into app development and am currently working on a larger project called P2E Buzzer. Stay tuned for the surprise. 🙂 My previous experiences: Business2Community.com, TradingPlatforms.com
Margharet Tess
Latest posts by Margharet Tess (see all)
  • To Everyone Selling Their Crypto: Take a Breath, Quit Panicking, and Read This Like a Pro - June 23, 2025
  • Bitcoin at $104K: Spoofers, Liquidations & Degens – Welcome to the Danger Zone - June 20, 2025
  • How to Trade Meme Coins in 2025: A No-BS Guide for Degens and Smart Investors Alike - June 9, 2025
Tags: NFT
Previous Post

Wave of protests in Nigeria against monetary policy

Next Post

US government crackdowns on cryptocurrencies is escalating: Now it’s dangerous!

Related Posts

CryptoPunk NFT Sold at a $10M Loss
Cryptheory News

CryptoPunk NFT Sold at a $10M Loss

April 14, 2025
New Battle Over NFT Regulation: OpenSea Urges SEC to Step Back
Cryptheory News

New Battle Over NFT Regulation: OpenSea Urges SEC to Step Back

April 11, 2025
OpenSea Gradually Reclaims NFT Market Share – Is the Comeback Real?
Cryptheory News

OpenSea Gradually Reclaims NFT Market Share – Is the Comeback Real?

April 8, 2025
NFT platform OpenSea penetrates deeper into the crypto world – with its own coin
News

NFT platform OpenSea penetrates deeper into the crypto world – with its own coin

February 14, 2025
NFT sales grew by 18% in October, breaking a seven-month decline on Solana
Cryptheory News

NFT sales grew by 18% in October, breaking a seven-month decline on Solana

November 4, 2024
Weekly NFT sales reach highest levels since August
Cryptheory News

Weekly NFT sales reach highest levels since August

October 8, 2024
The sale of CryptoPunk NFT for US$ 56.3 million raises suspicion of marketing scam
Cryptheory News

The sale of CryptoPunk NFT for US$ 56.3 million raises suspicion of marketing scam

October 7, 2024
Modifiable Non-Fungible tokens - These are Dynamic NFTs
Guides

Modifiable Non-Fungible tokens – These are Dynamic NFTs

September 3, 2024
Trump launches new NFT collection
Cryptheory News

Trump launches new NFT collection

September 2, 2024
Please login to join discussion
Track all markets on TradingView
Score: 0
Game Over

Popular

SOL's Big F***ing Breakout: Why Solana's About to Send You to the Moon

SOL’s Big F***ing Breakout: Why Solana’s About to Send You to the Moon

June 10, 2025
Dogecoin's Wild Ride: A Charts-and-Giggles Exposé on Who Really Got Rekt (It Was Probably You)

Dogecoin’s Wild Ride: A Charts-and-Giggles Exposé on Who Really Got Rekt (It Was Probably You)

June 6, 2025
Who Really Makes Bank on Memecoins – And Why It Ain't You, You Beautiful Degenerate

Who Really Makes Bank on Memecoins – And Why It Ain’t You, You Beautiful Degenerate

June 4, 2025
Crypto Trading Tips for June 5, 2025: Navigating the Binance Spot Market

Crypto Trading Tips for June 5, 2025: Navigating the Binance Spot Market

June 5, 2025
What is Altcoin: Unveiling the World of Alternative Cryptocurrencies in 2025

What is Altcoin: Unveiling the World of Alternative Cryptocurrencies in 2025

June 18, 2025
Analysis & Trading Tips June 10, 2025: Dogecoin Is Barking Again

Analysis & Trading Tips June 10, 2025: Dogecoin Is Barking Again

June 10, 2025
The Hottest Female Characters in PC Games: A Deep Dive into Digital Desirability

The Hottest Female Characters in PC Games: A Deep Dive into Digital Desirability

June 5, 2025
Bitcoin Price Analysis & Trading Tips – June 9, 2025

Bitcoin Price Analysis & Trading Tips – June 9, 2025

June 9, 2025
Staking: Is it Just a Fancy Ponzi Scheme? Let's Get Real.

Staking: Is it Just a Fancy Ponzi Scheme? Let’s Get Real.

June 11, 2025
Stablecoin Scrutiny: From Tether’s Launch to MiCA’s Dawn, Regulators Are Watching

Stablecoin Scrutiny: From Tether’s Launch to MiCA’s Dawn, Regulators Are Watching

June 12, 2025

⭐ What Type of Crypto Investor Are You? (v2)

1. How do you DYOR (Do Your Own Research)?

2. Your first reaction to a 10x pump?

3. What’s your opinion on memecoins?

4. Where do you stake your crypto?

5. What’s your exit strategy?

6. How do you pick your next investment?

7. Favorite kind of airdrop?

8. What’s your approach to NFTs?

9. How do you store your crypto?

10. What's your long-term crypto goal?

Crypto News

Bitcoin

Ethereum

Altcoins

Cryptocurrency

Platforms for Copy Trading

Platforms for Grid Trading

Glossary of trading and crypto terms

Crypto Portfolio Tracker

 

Cryptheory Labs Projects

Guest Post for Free

On our website, you can share your opinions and insights. This feature is reserved for non-promotional articles. We are already working on a system for donations and rewarding every author.

This website is here for those of you who want to be at the forefront of innovation and new technologies like Bitcoin. But first, we need to tackle the challenges and survive in the unforgiving world of crypto assets. THIS IS CRYPTHEORY!

Follow Us

  • Terms Of Use
  • Privacy Policy
  • About us
  • Contact us

© 2024 Cryptheory - F**k the forex, we want gains!

Shiba Inu loading
No Result
View All Result
  • Cryptocurrency List
  • Cryptocurrency
    • Cryptocurrency Exchanges
      • Top exchanges for trading Bitcoin derivatives
      • How to buy bitcoin without KYC
      • How to Trade Bitcoin – best platforms
      • Best platforms to buy Bitcoin by debit or credit card
      • Platforms for Grid Trading
      • BYDFi: Review and Guide
      • BingX: Review and Guide
      • Kraken: Review and Guide
      • Bybit: Review and Guide
      • Bitpanda: Review and Guide
      • Phemex: Review and Guide
      • Huobi: Quick Guide
      • Binance: Review and Guide
    • Bitcoin
    • Tether
    • XRP
    • Dogecoin
    • Avalanche
    • Stellar
    • The Open Network
  • crypto news
  • Crypto Exchanges Info
  • Analysis
  • Attractions

© 2024 Cryptheory - F**k the forex, we want gains!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.