So, they’re definitely tokens, but honestly, they’re kind of trash coins too. Still, some of those old trash coins might surprise us and actually pump. I’m not talking about right now, more like in 2027 or whenever the altcoin season kicks off. Some coins might gain before that season starts, while others could just fizzle out once it does.
Take Ordi for example. It shot up to nearly $100 but now it’s sitting under $3. When Bitcoin dropped to $60,000, Ordi fell to less than $1. I get that it’s a gamble, but do you think this coin has a chance to jump 10x or will it just stay a trash coin?
What happens with Core and Knot might play a big role in this, but I’m not super optimistic for the Knot folks.
And what’s the deal with other BTC20s like SATS and RATS?
I’m considering throwing 5% of my portfolio into Ordi.
Good luck about that. I think that when these coins are already done, they're done forever. We've seen it with the other network when there were coins/tokens that from once upon a time they pumped a lot and badly dumped after their hype. No one knows but if you can afford to invest that portion of your portfolio to gamble in the BRC20 tokens and its meme coins, you know what to do and if you get lucky on that congratulations. But if not, then that's a lesson learn and a loss that you can recover through your other holdings.
I haven't heard about these projects in a while, and it makes sense as no one wants to exchange real Bitcoin for tokens, which are essentially unnecessary, especially since they're piggybacking on the Bitcoin network. So, I assume they've disappeared from the market, and it's time to refocus on Bitcoin's primary function.
In short Ordinals, BTC20, SATS, RATS, etc., are just spam on the Bitcoin network.
That's more like asking whether we shall have those ICO or NFT hype-era coins pump again
The simple answer is it may never happen.
Pump and dump tokens are simply why they are called so. They pump, and then after that, it's downwards until they are completely forgotten. Think about OMG, NEO, EOS, etc. Where are they today
Here is a quick walk back memory lane - https://web.archive.org/web/20180103113616/https://coinmarketcap.com/
Maybe for now we may not be able to give an accurate answer to this because we are still in the bear season, but better still it is more important that we wait till we arrive at the alt currency is in whereby we see a massive number of some of these coins and tokens rising to make all time high, then we could be able to predict how their performances could be or what to expect from them henceforth as the beginning to indicate they are readiness to pump as always expected.
I think everyone has their own choice on which coin to put their money into. I think that a shitcoin will still remain a shitcoin. It's not easy to predict about the future of these coins despite that they are minted on bitcoin blockchain.
It does not matter which blockchain these tokens are using, what matters is the utility that they provide. If there's no difference with other shitcoins out there, these tokens might slowly fade off from the market. Only use the amount of money that you can afford to lose to invest on shitcoins because you are gambling.
I would still say this is becoming a junk coin, maybe when bitcoin goes up it could be ordi goes up just not sure to 10x again for the increase now, this token only relies on hype not much different from NFT which is now abandoned and not much of a glance anymore.
Maybe you can take the risk now by buying at a low price, but from my side I will not dare anymore tokens like this because the hype will not come back to life.
For me we have passed thus stage as it has become obvious that Ordi and those BRC20 tokens are shitcoins. I'm even surprised to see them make a topic here considering the amount of stress they gave the Bitcoin network and made us pay exorbitant fees for transaction. It is better to let them remain in the past as a experience we never dream of having again.
Honestly, this seems not a good decision. I know Ordi dumped so hard, but it's potentially to bounce back. However, the problem is that trend is changing. People are not using ordi for the meme making anymore. It gets worsen with the implementation of BIP110 at mid of august will make people can't mint the inscription again.
So it's indirectly killing the protocol. that's the reason i don't think this protocol has a chance to bounceback. People are now moving to the pumpdotfun and other that similar to it.
So no reason to bet on this one unless you're a true degenerate that is willing to lose money, so betting on this one for a random pump seems good enough.
I know it's easy to imagine we bet on it, then it can go 10x someday. However, such scenario was rarely happened. Think again.
The Ordi price chart looks like your classic shitcoin that goes down only. You should only buy this coin if you are comfortable losing 99% of the value you invest. A 10x increase is next to impossible once all the value has already been extracted and people have moved onto the next pump and dump.
Even if Ordinals started becoming popular again, I dont think its smart to invest in the current fad of the moment, because these tend to be very short lived. Altcoins in general will perform poorly, but there are still much better plays that will go down less or even make you a profit.
Well, that's your strategy, OP. The final decision on that matter is still in your hands. If you think you can get a profit there even x10, from what I see in you,
you are willing to take the risk there. And if your willingness is there for those consequences, the important thing is that you know what you are doing.
So I hope the decision you make will be right and you will get a decent profit in the near future since we are in a bear market right now;
you will have to work hard for a long time to save up for it.