15 March  2024 · Block Height 834825 · Bitcoin Price $68K

Welcome back to the Blockspace Newsletter!

Today we see what’s going on in Ordinals land (hint: a lot!). The creator of Ordinals has been busy and the largest airdrop in Ordinals history!

Quick Hits

• Casey Rodarmor, the creator of Ordinals, is inscribing his first Ordinals in over a year!

• The Ordinals marketplace volume decouples from on-chain activity 👀 

• Runes mania reaches a peak, anticipation for the largest airdrop on Bitcoin ever

• Celebrities like French Montana launching music on Ordinals using out-of-band transactions

• COPA case judge rules that Craig Wright is a fraud.

Chart of the Week

What is Casey up to?

Yesterday morning, the famous first-ever-inscription, Inscription 0, was used to create another inscription (see below). It appears that Casey Rodarmor is finally up to something and working on his own collection 👀 

Why is this a big deal? Casey Rodarmor has only ever made 1 inscription to-date, Inscription 0. Ironically, the very creator of Ordinal Theory has probably used it the least because he’s been focused on building out the ord client which powers the Ordinals ecosystem. This week it looks like Casey has finally found time to work on his own personal ordinals project!

What’s special about how he’s doing it? The Ordinals protocol allows you to use a “parent” inscription in the transaction for another inscription, called the “child”. Casey is using his famous Inscription 0 to parent another inscription, which in turn has been used to parent 8 more inscriptions, which are grandchildren of the famous Inscription 0.

Here’s a helpful "family tree” from Leonidas:

The Biggest Ordinals Airdrop Ever.

Meanwhile, Leonidas is currently airdropping over 112,383 Runestone Inscriptions to holders of popular Ordinals collections. This is the largest airdrop to-date and is on track to cost well over 2 btc to produce. Holders of these Inscriptions will be able to claim an associated Runes token at a future date from Casey Rodarmor’s Runes token standard which launches at the halving.

Meanwhile, the Inscriptions themselves hit the chain & soon, the marketplaces.

Be on the lookout for more Runes coverage from Blockspace in Bitcoin Season 2 in the coming weeks!

Links we liked

Tweet: Unisat regaining Ordinals market share volume

Blog: Life Cycle of a Citrea Transaction

Podcast: How to Soft Fork Bitcoin

Forum: What is a Time Warp Attack?

Blockspace Podcasts

🎙️ The First Song On Bitcoin?

(YouTube) Charlie, Matt and Will jump back into our news roundup to go through this week’s Bitcoin mining hits, including mining profitability, rapper French Montana minting a music Ordinal and the Biden admin taking a second shot at a 30% tax on Bitcoin miners.

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