210 DickBits, inscribed by @rot13maxi at a holy 0.69sats/vb. Each one with metadata. Each one a child of Inscription #1 — His Highness Sir Dickbutt. Artist: @M1LZ7 We’re so back.

BTCWC.Toiletism.MAXI is now indexed on @MagicEden 17 satributes+124 complete 1/1 artworks+338 attributes =Total 330 The fair market has decided the birth of this collection. magiceden.io/ordinals/market… For quite some time, we have been pondering what can be considered excellent Bitcoin art.Although ordinals have only been around for just over a year, the number of inscriptions has already reached over seventy million. Is this number large? Each inscription is inscribed on a sat, one bitcoin equals one hundred million sats. This means that in nearly two years, we haven't even inscribed a whole bitcoin. We can make a narrow inference: If it takes nearly two years for humans to inscribe seventy million inscriptions, it would take four thousand two hundred years to inscribe two hundred and ten million inscriptions. Of course, this is a very subjective inference. I mention this issue to explain two points to people: 1. We came very early in a sufficiently long time span. 2. Inscription numbers will become more valuable as time goes by. People often find themselves in the midst of history but lack historical self-awareness. Alright, let's get back on track: What kind of art form is considered good Bitcoin art? What are the differences between art on Bitcoin and traditional blockchain art? Will Bitcoin art bring about a paradigm shift? As a native Bitcoin art institution, we have drawn upon extensive conversations and materials in our exploration of the era-defining nature of Bitcoin art. Here, we share some of our insights in a simple manner with collectors, traders, and artists, hoping to be of assistance. 1.Temporality Bitcoin is often referred to as a "timechain," as mentioned earlier: as time progresses, smaller inscription numbers will increasingly reflect their value. Of course, this is not absolute; a grain of sand from a thousand years ago and a painting from a thousand years ago have clearly different values. 2.Zeitgeist Human experience is always being repeated in history. If we are to discuss the boundaries of flat painting, it is clear that artists have difficulty breaking out of existing ideological categories. On-chain art has very strong interactive features, both technically and conceptually. The storage method on the Bitcoin chain is different from IPFS, which determines that Bitcoin artists should have some era awareness. If you inscribe the Mona Lisa on Bitcoin, which Mona Lisa is more valuable, the one on Bitcoin or the one in the Louvre? I don't know the answer to this question, but I think as an artist living in 2024, it is more important to think about how to create a Mona Lisa that belongs to this era. 3.Decentralization To our surprise, many degens we've talked to haven't even read the Bitcoin whitepaper. I recommend that all artists intending to create art on Bitcoin spend a little time reading the Bitcoin whitepaper. If you're a curious seeker of knowledge, you can spend some time understanding what true crypto spirit is. Art creation is often a very subjective thing, and collectors must rely on a centralized team to acquire Bitcoin art pieces. The launch process of a Bitcoin art collection determines the degree of decentralization of the entire project. Is it all inscribed by the team or artist, or is it inscribed by the audience themselves? A fair, transparent launch process is a criterion for judging whether a collection of works is good Bitcoin art. 4.Rare Sats Rare Sats are an important attribute of Bitcoin. A sat is the smallest denomination of Bitcoin, in other words, 1 Bitcoin equals to 100 million sats. Also, we know that Bitcoin's supply limit is 21 million, so there can be a maximum of 2.1 quadrillion sats in existence. Bitcoin has periodic events, some frequent, some more uncommon, and these naturally lend themselves to a system of rarity. Creating artworks on different rare sats is like a kind of composite material painting. People often say that rare sats are the canvas, but I think rare sats are the medium of Bitcoin art, more like a pigment, with the artist's thoughts and rare sats jointly completing a complete work. 5.File Size The fluctuation in the price and fees of Bitcoin has resulted in exorbitant costs for inscribing works on Bitcoin, which means that when you want to inscribe a normal-sized file, you will face exorbitant fees. We cannot absolutely judge good Bitcoin art by the size of the file, after all, you only need money to inscribe large files, and we cannot assume that small files are good Bitcoin art. The key is the ingenuity of artists in the creation process regarding file size and creative methods. Recursive inscriptions have nicely solved the dilemma of generative art on Bitcoin, and many interesting recursive inscription collections have emerged. Similarly, for artists without a programming background, file size will be reflected in the creation form language: how to express your thoughts with concise form language? 6. Community A stable and robust community support is a key factor in judging the quality of a Bitcoin art project. We have seen too many projects fall apart due to the collapse of the community. Community governance is a complex thing for most artists. Giving up rights indiscriminately may lead to "mob rule," while excessive centralization can lead to excessive dependence on artists and founders by the community. Friedrich Hayek said, "Democracy is a means, not an end." How to judge whether a community is resilient, I think everyone has their own standards. 7.Aesthetic Value Aesthetics is a very personal thing. Some people like contemporary art, some like classical oil paintings, some like cartoon patterns. Everyone has different preferences, but we believe that there is a fundamental point in the aesthetic emotion of on-chain art: homogeneity. If you can find hundreds of collections of the same style on the chain, I think these works are not necessary for collection. 8.Liquidity When you buy a well-known piece of art in reality, you can use it as collateral for a bank loan or auction it off to exchange it for fiat currency when you need money. The actual value of this piece of art as an investment or collection is a comprehensive evaluation standard, and no one can guarantee that you will get a 100% appreciation after purchasing a work. Factors such as Artist's Reputation, Rarity of the Piece, Quality of the Work, Market Demand, Historical Background and Provenance, Market Trends will affect the value of the artwork. The liquidity value of Bitcoin art is similar to that of real art. Ordinals and other chain art are different in that there is no concept of creator trading tax, which means that after a collection is completely minted by collectors, as artists and project parties, there is no direct economic incentive to interfere with the secondary market. Therefore, the liquidity of Bitcoin art is highly dependent on artists and the community, which is a two-way value trend. For artists, they need to maintain creative enthusiasm and cannot stop creating because the launch is successful. For the community, they should spare no effort to publicize their collections and let more people know about these artworks. How many people on this planet have heard of Van Gogh, and how many have heard of your artwork? Just now, we counted the number of Bitcoin wallet addresses: 54,583,557. This includes a large number of lost wallets and wallets owned by one person, and this number is too small. If we count the number of Ordinals wallets again, how many are there? If you find these viewpoints helpful, please like and share, so more people can learn about Bitcoin art. If you're interested in the BTCWC Gallery, read this thread🧵

📢 Announcing the lineup for Inscribing Miami ✨