Casey & Raph: Behind Runes & Ordinals

This Bitcoin Season 2 is metrics heavy, with declining Bitcoin on-chain activity, leveraged ordinals, and builders keep on building.

Let's review the current state of Bitcoin Layer 2 solutions, using "Layer 2" as a broad term encompassing various Bitcoin abstractions, sidechains, security protocols, federations, and state channels.

Leo Zhang, founder of Alkimiya discusses the emerging phenomenon of commoditization of Bitcoin blockspace and drawing parallels to Ethereum. Leo notes that as more sophisticated activities occur on Bitcoin, such as mempool sniping and replace-by-fee (RBF) transactions, it can create negative externalities, but that as Bitcoin's fee market matures those negatives can be reduced for the end user.

Bitcoin is crashing (so are Runes & Ordinals). We assess the damage! Also, Programmable Runes & MTGox unlock?

ETH NFTs down to 4,000 daily active users, are Bitcoin L2s actually worthwhile? And Saylor buys $500 million BTC!

Runemaster Leonidas says it's time for memecoins to come home to Bitcoin and explains why DOG•GO•TO•THE•MOON should be the #1 dog coin everywhere.

OKX burns millions in fees and BRC20s make an unexpected return! This week we have a metrics-heavy Bitcoin ecosystem review