💎Runes are meme coins on Bitcoin that are highly speculative and offer 100x potential.
🔄Runes allow for the trading of fungible tokens on the Bitcoin network.
🔒Runes utilize Bitcoin's utxo model and provide a cleaner alternative to BRC 20 tokens.
🌐You can mint or buy runes on platforms like Luminex and Unisat.
⚠️Getting runes can be expensive and risky due to high transaction fees and competition.
What are runes?
—Runes are meme coins on Bitcoin that allow for the trading of fungible tokens. They bring the concept of NFTs to Bitcoin's blockchain in a cleaner and more secure way.
How do I get runes?
—You can mint your own runes using platforms like Luminex, or you can buy them on secondary marketplaces like Unisat.
What is the potential of runes?
—Runes are highly speculative and offer 100x potential. However, they are also risky, and transaction fees for minting or buying runes can be expensive.
Why are runes considered a cleaner alternative to BRC 20 tokens?
—Runes utilize Bitcoin's utxo model, which is completely on-chain and avoids the creation of unnecessary junk on the network. BRC 20 tokens, on the other hand, create a lot of junk and don't incentivize spending.
Are runes the future of finance?
—No, runes are primarily intended for gambling and speculative purposes. They do not offer any real use case outside of that, and Casey Rmore, the creator of runes, has been clear about their limited scope.
00:00The Bitcoin Haring event introduced a new token standard called runes.
02:46Runes are meme coins on Bitcoin and offer 100x potential.
05:32Runes allow for the trading of fungible tokens on the Bitcoin network.
06:11Runes utilize Bitcoin's utxo model and provide a cleaner alternative to BRC 20 tokens.
10:22You can mint or buy runes on platforms like Luminex and Unisat.
12:30Getting runes can be expensive and risky due to high fees and competition.
