In this episode of “Bitcoin Season Two,” hosted by Charlie Spears from Blockspace Media, the focus is on current events and metrics in the Bitcoin ecosystem, particularly Ordinals and the emerging market trends. Charlie mentions that the show is predominantly visual, relying on charts to present data, and encourages viewers to engage with other Blockspace Media content like the Gwart Show, Mining Pod, and their bi-weekly newsletter.
Charlie begins by discussing the current state of Bitcoin transaction fees, noting a significant drop to around 5sats per VByte, with the potential to decrease further. This drop has led to an increase in transaction consolidation and potential latent block space demand. Charlie showcases a new favorite site, Runes.com, to monitor market movements of various runes, which are experiencing mixed performance, with some significant drops from their all-time highs.
The discussion then shifts to the state of ordinal assets, highlighting that for the first time in months, many top collections are showing positive weekly performance. This may indicate a market bottom and potential for upward movement. Charlie also covers the increase in daily active users on Ordinals marketplaces, signaling a potential bullish trend despite the overall bear market conditions.
A notable segment is dedicated to the innovations and tools developed by notable figures in the Ordinals ecosystem, particularly Lifofifo. Charlie highlights the launch of Wizards.art, a comprehensive platform for various collections and tools like Rune Blaster and Magic Pool, which enhance the minting and transaction processes within the Ordinals space.
The podcast also addresses the ongoing issue of transaction sniping, advising listeners on how to protect themselves as market activity increases. Charlie reports on recent updates from the Ordinals development team, including the addition of a full address index and other quality-of-life features, signaling continuous improvement in the ecosystem.
Lastly, Charlie touches on the topic of ordinal leverage, discussing the risks and high default rates associated with leveraging these digital assets. He warns against the temptations of over-leveraging, especially during volatile market periods, and emphasizes the importance of understanding the risks involved.
Looking ahead, Charlie mentions upcoming events like the “Inscribing Nashville” conference and the Bitcoin 2024 conference, highlighting key speakers and anticipated content. He concludes by noting the growing political interest in Bitcoin, referencing former President Trump’s involvement and his scheduled appearance at the Bitcoin 2024 conference.
