Bitcoin Has Never Done This Before.. (PEPE & XRP News)

The Bitcoin network is in trouble the Number of unconfirmed Bitcoin Transactions have reached a new all-time High of over 485 000 the average cost to send one Bitcoin Transaction has jumped to 19.20 and Pictures of frogs and other memes have Rendered the BTC blockchain useless for Microtransactions so we have never seen The Bitcoin Network this congested ever Not in the bull market of 2021 not in The bull market of 2017 and this is Leaving a lot of people worried that Today while we're not technically I mean We're sort of in crypto spring not a Bear Market but not full-fledged bull Yet what's this going to look like when We are in bull market and when we do get That onboarding that onslaught of new Users again into crypto Bitcoin fees Just hit a new record up 500 x from just A few months ago officially marks the Start of the arms race to build the best Bitcoin twos I'm talking lightning I'm Talking Stacks I'm talking rootstock all Long-term solutions for the network in The short term just looking at the Mempool today what's changed so much This cycle in the short term well a Major change is Bitcoin ordinals AKA Bitcoin nfts the biggest difference now Between this jump in transaction fees And past ones with inscriptions is that Brc20 standard is a new way to inscribe

Adoption of this standard is driving Fees up so while meme coins today are Clogging up ethereum ordinals are Severely clogging up Bitcoin due to the Emergence of ordinals Bitcoin nfts Hundreds of thousands of transactions Are stock slash pending and while on Chain now the average cost is around Twenty dollars many exchanges are Charging 60 plus dollars to process them Bitcoin Network ingestion causes binance The number one cryptocurrency Exchange In the world the pause withdrawal on Bitcoin that happened yesterday people Were shocked the world's biggest crypto Exchange has now resumed withdrawals but Problems continue to linger for the Bitcoin protocol and the reason Bitcoin Ordinals are even a thing this cycle is Because the upgrade of Taproot for Bitcoin finally saw adoption allowing Ordinals AKA Bitcoin nfts to become a Thing but how are Bitcoin ordinals Different from ethereum nfts well on a Recent episode of nft Now friend of the Channel Udi breaks it down it's not just Nfts on bitcoin the Dynamics of Arnolds Are really different from how nfts work On ethereum they're different in two Important ways one is is the owner of Normal it's truly yours no one can Change it no one can change the image You know what happened to Goblin towns Cannot happen doesn't matter what the

Creator wants doesn't matter what kind Of royalty Marketplace Wars are going on It's permanent so you guarantee that the Image is always going to be on chain It's always going to be available no Matter what happens as long as Bitcoin Exists the image of the inscription is Also going to exist and it is truly Scarce it is made out of the scarce Material so when you create an ethereum Nft you know you could create easily Millions a day with Bitcoin there's only Four megabytes of block space available Every 10 minutes and you've got to Acquire some of it in order to craft Your inscription and there's only a very Limited amount of it that's going to be Created every day and what's the Solution here meaning how does the Bitcoin mempool the amount of Unconfirmed transactions that need to be Confirmed this is a live look right now How does this get fixed well number one The beauty of Bitcoin is if you want Your transaction to go in first if you Want a higher priority you can pay more Right now a high priority transaction is Going for over twenty dollars an Outrageous amount compared to whoop look At that another block just got cleared Now a high priority is eighteen dollars But the unfortunate part of all this is This does sort of make micro Transactions unusable no nobody would

Ever pay for a daily transaction a cup Of coffee with these high fees and also Keep in mind this is just an ebb and a Flow we've seen what we thought were Outrageous transaction volumes huge Congestion before of course this is much Worse but given enough time this will Get cleared we all just have to wait or Pay more now for the Bitcoin blockchain Binance along with other major Centralized exchanges have announced They are onboarding to the lightning Network this is an L2 for Bitcoin Meaning the infrastructure is rapidly Improving for Bitcoin transactions again We're just it's still building and in Terms of the meme coin cloggage for Ethereum the first meme coin on L2 will Shift this equilibrium synthetics Founder Kane Warwick explains how this New phase of memecoin mania can boost L2's massive adoption so the creator of Synthetics heavily respected tweeted This the first meme coin that blows up On L2 will shift this equilibrium we've Seen people learn about uniswap back in The day to be able to fomo into things I Think they will learn how to bridge to An L2 if some random thing is blowing up Yes I can see it it would be much more Sensible for these meme coins to deploy On an L2 like arbitrum Avalanche polygon Optimism but there are fewer people There and more friction to ask them to

Bridge at this moment from mainnet yes All these eth scalers are also all these Eth killers they really Thrive during Bull markets or during times of peak Congestion because in a bear Market Everybody is just comfortable using Ethereum until it becomes too slow or Too expensive I am going to keep tabs on This make sure you subscribe for a daily Video keeping you informed about crypto Now big news if you hold xrp a direct Quote from CEO of Ripple Brad Garlinghouse ripples tussle with the SEC To cost the firm over 200 million Dollars here's Brad garlinghouse at the 2023 Dubai fintech Summit over the Weekend speaking about xrp and the SEC So what's your message to the SEC chair As you sit here in the UAE and in Dubai Announcing an expansion of your business To this region given the state of Regulation in the United States right Now who No I'm kidding all right so look uh we Were talking about this a little bit Earlier I find it as a U.S a company That started in the United States as Someone who's a U.S citizen it's sad Like I have sadness about this The US is getting past not just a little Bit but by a lot and you know what the Tough thing about this is you have a Country that I think has put politics Ahead of policy

And you know that's not a good decision If you're trying to invest in the Economy you're seeing you know certainly Here in the UAE with Vara the visual Assets excuse me virtual asset Regulatory Authority certainly what's Happened recently in Europe with Mika uh The United States is definitely stuck And you Ripple the the case with the SEC We will spend the first time I've shared This publicly by the time it's said and Done we will have spent 200 million Dollars defending ourselves against a Lawsuit which from its very beginning People were like listen this doesn't Make a lot of sense you have video Footage of the chair of the SEC as a Professor at MIT saying 75 of these Digital assets are Commodities and now He says they're all Securities because He's the head of the SEC and he's Seeking power and he's putting power Ahead of sound policy to grow an economy In the United States blockchain Technologies are being invested and Pursued and the entrepreneurship outside The United States and one of the first Pieces of advice I give entrepreneurs When they come and ask me have getting Something started I'll say if I were you I would not start in the United States And I think there's a lot of U.S based Companies and even U.S public companies That would agree with that so is this

The death of xrp in the United States or Will they come back stronger well a Judgment on the SEC case is expected in The next three to six weeks according to Reports and while we have heard that Before so who knows the minute I get an Update on this case I will let you know And major ethereum dap Ave is not Waiting for the congestion to clear out They're moving to l2s Ave version 3 Launches an ethereum layer 2 Network Medus so this is not the first eth Scaler that Ave continues to launch on The Midas they sell value in is the next In line ave's Community recently voted In favor of a proposal deploying on zero Knowledge ZK proof evm ZK sync and while Ave has yet to deploy on ZK sync era it Has announced its deployment of V3 of Its protocol on optimistic roll-up Scaling protocol medis so what is the Difference between optimistic Roll-Ups And ZK Roll-Ups well ethereum.org Highlights the main difference between Optimistic Roll-Ups and ZK Roll-Ups the Former meaning optimistic processes Transactions off-chain before publishing Data on chain with a time frame for Network participants to challenge the Validity of transaction data so that's Optimistic Roll-Ups and ZK Roll-Ups Meanwhile execute transactions off chain And submits large batches on chain using Single proof of validity with no need

For the network to validate the data Either way great for Midas great for Ave Make sure you do not miss if you haven't Watched already do not miss our Interview with X Mana how X Mana is About to change Sports entertainment and Cryptocurrency seek this out and like Always see you tomorrow

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