While no formal announcement has been made, murmurs of a potential Bitcoin fork are emerging amidst discussions on block space, Ordinal inscriptions, and escalating fees. Such speculation has led some to believe that a significant Bitcoin fork might occur in 2024.
Talks of a Bitcoin Fork Appear as Tensions Rise
Discussions about a potential Bitcoin fork are surfacing on social media platform X, sparked by ongoing debates about the trend of Ordinal inscriptions, the block space these inscriptions occupy, and the increasing transaction fees of BTC.
As of Dec. 23, 2023, a backlog of 291,660 unconfirmed bitcoin transactions exists. The current cost for transferring bitcoin stands at 81 satoshis per virtual byte (sat/vB) or $4.97 per transaction. Comparatively, fees were much higher on Dec. 16, 2023, when the rate was 674 sat/vB, equating to $40 per transfer.
Moreover, certain Bitcoin enthusiasts scorn Ordinal inscriptions, labeling them as “spam,” an “attack,” a “scam,” and fun
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