Has this stopped the altcoins creation madness and the billions thrown at them?
Take a look at those:
https://www.coingecko.com/en/categories
The 60 million paid in fees over the last 24 hours is nothing compared to how much those shitcoins have gobbled till now.

You need to stop underestimating the amount people can spend to create shit, the one people can spend to buy shit and how many want to get rich with shit. There are plenty who will say to your explanation, that everyone said shiba inu was crap yet people made millions with it for cents, try to convince them there is no opportunity for money-making here.

Runes will be around for while, there will always be a taker, once it finally dies and gets buried we would by then have at least two or three replacements clogging the chain.

It's the same as the brc20 when they've spammed the network and they're able to successfully made the fees crazily high.

But just like that, it is going to pass and they'll be forgotten by everyone. Right now, the fees are terrible but, once it is done we'll see some declogging on the network and that's the sign when they're nearly gone.

I think it is the first time seeing Bitcoin went on that kind of fee of $100+. I've seen this kind of fee but in gas fees on ERC20 but not on bitcoin blockchain.

Eventually some kind of "learning effect" will set in. For example, the ICO market is already much less hyped than it was in 2018. The NFT market is in problems since 2022, only having re-surged temporarily in 2023 due to Ordinals, but on Ethereum its status seems quite bleak. The memecoin market is also bearish, even looking at longer timeframes. Shiba Inu for example had a pump, but its high of slightly less than $0.00004 was far away from SHIB's ATH in 2022 ($0.00008), and now it's already closer to 0.00002, having lost 40%. Even Doge, which has some more "intrinsic" value because it's running on its own blockchain, and even has its own Ordinals clone (sort of, as it uses an older technology), hasn't reached even half of its ATH in 2021.

So in general I think these hypes will be smaller in each wave. It's likely that some of the halving day rune collectors will make a profit, but I'm almost sure most won't. I admit that the relative persistence of the BRC-20 hype during most of 2023 surprised me, I believed it to be shorter. But there is a lot of blood in the streets (ORDI, the "most established" of the BRC-20's, lost 50% of its ATH already), and each of these waves will see more disappointed bagholders. Eventually, the market will collapse, not to 0 but to the same low-level state the Ethereum ICO market is now.

In general I think also that even compared to most "normal" altcoins the Rune/BRC-20 value proposition is very thin. There is often not even a website, not even some technobabble to create illusions

If we think further then indeed we can draw conclusions like you are talking about but in the end we must realize that sometimes many are also tempted by such quick schemes for profit where this is the same as altcoins and memecoins in the end.
I personally will not be in such a situation because in the end I still think that everything will depend on intention and determination, and from the beginning I was in bitcoin until now my desire is only to be in my version of the most comfortable situation even though in bitcoin it is full of risks but on the other hand I want to be comfortable in my own way so I have to do it the way it should be done.
The get rich quick scheme might happen but on the other hand it will not last long so there is no reason to do that for me right now because I want to do it normally and according to what should be done.

However, if there are many people who want to be there for instant gratification or think it's a good situation then that's up to them because they have their own views on it.

well scrypt with doge/ltc has a robust mining community.

Mining it with a bitmain L7 from jan 2021 to apr 2024 has had solid profits.


plus doge and ltc can do cheap sends of smaller wealth.
most of runes are not very artistic. they may not have much value just loyal followers.

There will always be foolishness everywhere, in all markets. In the crypto market, including Bitcoin's, everybody is free to take their shot. They fail, they take another shot. That's the prevailing theme in crypto. Often, these aren't done in the name of innovation. They're done out of people's sheer folly. In the case of Bitcoin, there's Rodarmor's Ordinals and Runes, among others. But, just like anything built on sand, these won't last. At most, they can hit a certain level of hype and then die. The victims will always be those who lack awareness.

Yeah these Runes reminds me of NFTs back in 2017. I first heard about it and assumed it was a joke. Then I saw those bored apes sell for like $50K and I assumed it must be some money laundering scam because who would pay that much for a picture you can just copy yourself.

Then i saw how crazy high some of those bored apes sold for. It was same with meme coins like Doge, Pepe, SHIb, they all should be useless but aren’t. Who knows which path Runes will take. It’ll either be a huge success to the early investors or a huge disappointment. Time will tell.

Ordinals, Runes, blah blah. I suppose it’s gives the miners the fees they are looking and continues to entice them to keep verifying blocks, but as you stated and agree, they are more harm than good in quite a few ways,

I wish there was an incentive to build in escrow like Satoshi proposed on here . Thats a game changer. Not this stuff I’ve been reading through in Sirius and Satoshi’s emails and saw Satoshi talk about it again. Wish I knew why it never came to be.

why di they needs runes, when BTC itself is limited to 21 Million

every BTC that you own is rare