On January 23, 2024, the Bitcoin network experienced a significant delay with over a 75-minute gap between blocks, an event characterized by some users as a functional outage. This delay coincided with the minting of a new NFT-like collection called Commoners, which are inscriptions on Bitcoin's blockchain using a new feature called ordinals. The collection, which is inscribed on uncommon satoshis (sats), has seen rapid adoption, with over 2,000 Commoner inscriptions pending in the mempool at one point, and approximately 75% of Commoners minted as of January 24, 2024. The current floor price for these uncommon sats is around 0.014 BTC, or approximately $500, on the MagicEden marketplace. Enthusiasts have noted the ease of minting these ordinals, comparing it to the simplicity of minting traditional NFTs on other platforms, with acknowledgments to @trygamma x @eliherf1 for their role in promoting the ordinals edition.
Iβm honestly surprised how fast @Commoners_ minted out on only uncommon sats. Will be interesting to see how it goes.
Just participated in this cool mint First ordinals collection entirely on uncommon sats Cool mechanics - I minted 2 on uncommon sats from 2012, & one an uncommon sat from 2011 Few left - only jump in now if you are well versed in ordinals π«‘ Congrats to team π₯ https://t.co/QY5TtAvEuE
Just participated in this cool mint First ordinals collection entirely on uncommon sats Cool mechanics - I minted 2 on uncommon sats from 2012, & one an uncommon sat from 2011 A few left - only jump in now if you are well versed in ordinals π«‘ Congrats to team π₯ https://t.co/QY5TtAvEuE
Just participated in this cool mint First ordinals collection entirely on uncommon sats Innovative mechanics - I minted 2 on uncommon sats from 2012, & one an uncommon sat from 2011 Only a few left - only jump in now if you are well versed in ordinals π«‘ Congrats to team https://t.co/QY5TtAvEuE
Just participated in this cool mint First ordinals collection entirely on uncommon sats Really cool mechanics - I minted 2 on uncommon sats from 2012, & one an uncommon sat from 2011 Only a few left - only jump in now if you are well versed in ordinals π«‘ Congrats to team π₯ https://t.co/QY5TtAvEuE
Just minted a @Commoners_ ordinal. The Ordinal infra has rapidly improved over the past year. Was as easy as minting an NFT anywhere else.
About 75% of Commoners have been minted thus far... Ordinals which must be inscribed on uncommon sats. Mint has been going on for almost two hours. Current uncommon sat floor is 0.014 BTC on MagicEden (~$500). https://t.co/aJHxCaANT8
bitcoin had over a 75 minute gap between blocks being produced today probably a lot of people will disagree with me on this but that is functionally an outage https://t.co/cuyGdpoE7I
Wondering why that last Bitcoin block took so long? You can thank the Commoners. Over 75 minutes to process... https://t.co/N7jKdboL5g
Wondering why this last Bitcoin block is taking forever? You can thank the Commoners. 75 minutes and counting... https://t.co/N7jKdboL5g
Over 2,000 Commoner inscriptions in the mempool, and no block in 75 minutes. COMMONERS ARE BREAKING BITCOIN. https://t.co/0dkS7K0kzi
Minted out π±ππ€π€ Thank you everyone who collected a prints edition and hyped π€ Feeling the love taking a risk on ordinals. Especially ty @trygamma x @eliherf1 for the push to do an ordinals edition Some editions are on secondary + the original 1/1 inscription is availableβ¦ https://t.co/wND1lGttxs