Ordinals Protocol Developer Shares Tips on Rune Casting

According to BlockBeats, on April 19, Leonidas, a developer of the Ordinals Protocol, shared some advice on Rune casting on social media platforms. The advice aims to help participants avoid risks and participate in Rune casting wisely. Leonidas pointed out that due to the slow block time of Bitcoin, when a Rune is about to be cast, users need to pay significantly higher fees than others to ensure the transaction is quickly added to the blockchain. Otherwise, not only will the casting fail, but the fees will also be lost. He suggested treating the Mempool as an auction house, where the transaction of the highest bidder will be prioritized. Furthermore, if it is anticipated that a Rune will not be cast quickly, it is wiser to choose a time when the fees are lower for casting. Additionally, it is important to understand the casting mechanism before casting. For instance, the casting window for UNCOMMON•GOODS, initiated by Casey, lasts for four years. Participating at a time when Bitcoin fees are at a historic high is undoubtedly unwise. Leonidas also reminded to pay attention to the pre-casting volume of the Rune initiator. Usually, anything over 10% is considered greedy, while around 5% is reasonable. He advised treating Rune casting as a purchase and estimating the market value in advance. For example, if a Rune requires 100,000 casts, and the cost of a single cast is $100, it is equivalent to purchasing the Rune at a market value of $10 million. Finding the Rune that requires the least number of casts allows one to obtain a Rune with a number less than 100 at the lowest market value.