Magisat is the First Mempool Marketplace for Sniping Bitcoin Ordinals (& Potentially Runes Tokens)
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- čas přidán 6. 09. 2024
- Bitcoin Ordinals Mempool Sniping has been a thing for a while. However, only advanced technical users/Devs have been able to snipe pending buy transactions in the mempool. In my opinion, mempool sniping is primed to gain popularity with the launch of the Runes Protocol.
What exactly is mempool sniping and why is it important to be aware of for those that trade Ordinals, Runes, Rare SATs, and other Bitcoin ecosystem assets?
Let's say you purchase (or think you've purchased) an Ordinal on a regular Bitcoin marketplace like Magic Eden. After confirming the transaction in your Web3 wallet, the pending buy is broadcasted to the public Bitcoin mempool where it awaits confirmation. The waiting period for Bitcoin transactions to be confirmed in the mempool takes at least 10 minutes and typically much longer. This opens the door for Mempool snipers who look for arbitrage opportunities / pending buy transactions to take your Bitcoin ordinals (Rare SATs, Runes Tokens) by paying slightly higher transaction fees. It's known as RBF ("Replace-by-Fee") and the Bitcoin asset ends up in the snipers wallet instead of yours. You do not lose any of your $BTC but you also do not receive the Ordinals. That's an example of Bitcoin mempool sniping and I think it's going to happen more frequently.
In this video, I'll show you an emerging Bitcoin Ordinals mempool marketplace called Magisat that gives users of all levels the tools (previous available only to the few) to buy already pending transactions in the mempool. Runestones is Ordinals collection we'll use in this example as it's currently trending and has many buys broadcasted to the Bitcoin mempool. Traders can potentially save money when buying into projects with a rapidly rising floor price like Runestones by using a Bitcoin mempool marketplace like Magisat.io.
Go to our site for more information on Bitcoin Ordinals Mempool Marketplace information: stouy.com/magi...
Learn more about Magisat.io via their Twitter / X account: / magisat_io
Great post by the founder of Magisat quary.sats explaining the first Ordinals mempool marketplace in detail: / 1779900200045187148
Magisat Mempool Marketplace AMA Questions and Answers: / 1780623808904237503
Really good X Post by @LeonidasNFT explaining what "Mempool Sniping" is: / 1729590395963671003
Guide to getting started with Bitcoin Ordinals, STAMPS, SRC-20: stouy.com/guid...
Song: French Morning
Music by: CreatorMix.com
This video is for entertainment purposes only. It is not financial advice and is not an endorsement of any provider, product, asset or service. Crypto is high risk, you can lose your money. We are not responsible for any funds lost due to platform or user error.
Very cool. Thanks!!
Thank you for watching and taking time to leave a nice comment. It's greatly appreciated!
but you can't replace a specific transaction ?
Thanks for watching. Please elaborate / provide more context to your question and I'll do my best to answer. Thanks
I have three doors in three wallets and one runestone, do i need to combine or better to leave it as is in three wallets and allocation will be the same.
maybe doors airdropped and runestones claim tokens