My opinion would have been entirely different had the majority of these transactions not Ordinals. But since 54% of this all-time record is made up of Ordinals, there's not much to say except perhaps that Ordinals have probably clicked and that miners are probably happy that there's a considerable increase in fees because of them. However, this is probably not something to be really excited about, and does not really represent growth in adoption, if one is of the belief that Bitcoin transactions should remain monetary.

It's not indicate anything, the transactions growth aren't mainly come from the real Bitcoin transactions, but it's because of NFT created in Bitcoin blockchain. Those are interested with the scammy NFT, not Bitcoin.

Here's a good statistic and graph by @DdmrDdmr about the ordinals transactions, there's sudden increase from 2 weeks ago.


Anyway this thread with similar discussion has been created Bitcoin reaches record high # of daily transactions

I really want to know if they also integrate Bitcoin's Lightning Transactions in this. And if we include that also, what is the new total number of transactions per day?
That will be interesting as Lightning is also part of the Bitcoin Ecosystem.

Also as mk4 mentioned, the number of transactions may also be increased due to ordinals.

Ordinals is a term used for non-fungible token (NFT) native to Bitcoin.

With the increase in Bitcoin transactions on the chart above, it doesn't indicate anything, instead it will make fees even higher which will make it difficult for people to transact Bitcoin, because then for one transaction it will impose higher fees for users. Honestly I'm not really interested in that chart because it will prevent people from making transactions, imagine now one transaction is charged at 50 sat/vB or the value of $ 1.97 with an estimated time of 24 hours (https://bitcoiner.live/) it's quite expensive .

I don't think it is right to conclude that a bull market is coming just because the number of transactions increased. It could very well notify a bear season as well. It could notify a huge sell volume and so on. So let's not conclude on this.

But it is really interesting to see the trend. If it continues for some time, be prepared for both options, bull and bear. As of now the market is in red.

This number os looking good and i just checked number of transaction and surprised to see that number if transaction increasing despite of price correction. Now daily transactions are 68221 which is ATH of Btc transaction ever from start.




This growth in number of transaction is looking positive for the future of Btc because it is the sign of number of users increasing and adoption is now high and its growing in very good way. Now most of educated person entering into crypto and the first thing one learn will be Btc. This number of transaction will increase more if some big countries allow Btc deals like UAE

It indicates that the spam attack this time is a lot bigger and much more successful compared to the spam attack in 2017 specially since unlike the 2017 attack which mainly took place using the legacy transactions (ie. 1MB block size max) they are now using the increased block space for their spam (ie. 4MB block weight limit).

DDOS? lol


Has he done this after or before securing his coins and blaming the protocol for his losses?
Luke was one of the champions of censorship, he claimed almost was spam, of course not his own transactions, satoshi dice > spam, mixers > spam, batching transactions > spam, the thing that he opposes this much ordinals and he's already on with his censorship makes me think ordinals are not that bad after all.

Oh, and you can do whatever you want with your node, as long as the biggest mining pools accept them any community actions are useless.


No, it doesn't mean that at all.
If it were like this you would have normal transactions going up in numbers, besides it will be far more of a linear growth and not something like this:
https://bitinfocharts.com/comparison/bitcoin-transactions.html#3m
Besides, one user can do 1000 transactions and 10 users 10, the overall number is hardly an indicator of anything.

As of now there are 267K unconfirmed transaction in the mempool and still counting which is not really a great sign because this may create bad impression on Bitcoin for someone who just introduced to it and have to pay 80 to 100 sats/byte but I wonder what is the actual reason cause we didn't see this much of clogged network even in the previous ATH so there is shortage of miners or actually the number of incoming transaction increased all of a sudden?