Bitcoin Runes Explained

Join Bitcoin University Premium:
https://www.bitcoinuniversity.com

In this video, I discuss Bitcoin Runes, its creator Casey Rodarmor, as well as the spam problem that it has created, including possible mitigations like mining with Ocean and running Bitcoin Knots instead of Bitcoin Core.

Bitcoin's currently high transaction fees are NOT the result of Bitcoin's having suddenly become the world's new global monetary settlement layer.

These high transaction fees are being caused by spam, and are behaving like a DOS attack on the network, making it prohibitively expensive to do monetary transactions on-chain.

Yes, this is a preview of how base layer transaction fees will look someday-- but that day is not today.

This spam is the direct result of unethical crypto VCs trying to use Bitcoin for their latest scams. If you see a company or other actor in the Bitcoin space who is promoting ordinals/inscriptions/BRC-20s/runes, you should consider calling them them out.

If Casey Rodarmor or the Taproot wizards are being given a platform at a Bitcoin conference or event, consider boycotting it.

If a company like Casa is supporting spam, then consider using their competitor Unchained instead.

Node operators called out the big blockers in 2017.

Node operators called out MARA for caving in to US government censorship.

Node operators need to do the same thing again for those who are filling the Bitcoin blockchain with spam.

Not investment advice! Consult a financial advisor.

People losing money on runes:
https://twitter.com/TomerStrolight/status/1781855672415535166

Ordinal theory:
https://rodarmor.com/blog/ordinal-theory/

Why you shouldn't use Casa:
https://twitter.com/mattkratter/status/1782042802077278550

Casey Rodarmor's very disturbing obsession:
https://rodarmor.com/blog/wanko-manko/
https://twitter.com/rodarmor/status/1355713434101268482
https://twitter.com/KingBootoshi/status/1781899574774571202

Cool fork of Mempool.space that shows block health and spam:
https://mempool.orangepill.ovh/
https://twitter.com/LaurentMT/status/1782885275900797013

Point your hash to Ocean:
https://ocean.xyz/
https://ocean.xyz/blocktemplate/datafree

Bitcoin Knots:
https://bitcoinknots.org/

WFT happened in Feb 2023:
https://wtfhappenedinfeb2023.com/

Great podcasts on this topic:
https://www.youtube.com/watch?v=zXccoOlmtMY&ab_channel=PrestonPysh
https://www.whatbitcoindid.com/podcast/the-battle-for-bitcoin-with-bitcoin-mechanic
https://podcasts.apple.com/us/podcast/what-the-f-k-happened-in-february-2023-giacomozucco/id1497540130?i=1000650517197

People to follow:
https://twitter.com/GrassFedBitcoin
https://twitter.com/giacomozucco
https://twitter.com/LukeDashjr

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#runes

Disclaimer
Neither Bitcoin University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video, on this YouTube channel, or at www.Trader.University or www.BitcoinUniversity.com (henceforth, “the Sites”) should be construed as such by you. This video, channel, and the Sites should be used as educational tools only and are not replacements for professional investment advice. Trading or investing in new and volatile assets like Bitcoin can be risky.