Get to grips with the basics of inscriptions to avoid getting wrecked by scams. Just remember these 2 key principles:
1️⃣ Basic Knowledge: "How to Distinguish Between Real and Fake Blockchain Bitcoin Inscription Assets" – Click on the 'token details' parameter of the inscription. The last line's 'total supply' ÷ the third last line's 'max minting limit' = the number of times that token has been minted! (Watch out for decimal placements; some folks intentionally add extra digits after the decimal to confuse you.) The minting count indicates the level of decentralization. If it's under 20,000, it’s a shady solo project where the devs hold all the chips right from minting. This has nothing to do with deployment time; it could have been set up ages ago but no one touched it until the dev team decided to pump it, going full wash trading to keep all the gains for themselves. Those inscriptions with a few, hundreds, or even a couple thousand mints? 100% a scam designed to fleece the unsuspecting!
2️⃣ Basic Knowledge: "How to Judge Real vs. Fake Blockchain Bitcoin Inscription Assets 5-Character Inscriptions" – Since the BRC-20 standard rolled out the 5-character tokens, scams have been rampant. Only the deployer can mint these 5-character inscriptions, which means they are 100% centralized from the get-go. Currently, these 5-character tokens aren’t even getting pizza off the ground, even though they airdropped all minted tokens to hundreds of thousands of retail investors. If you see '5-byte' noted under the inscription, it's a pure scam set up to fleece the unsuspecting – stay away!
1️⃣ Basic Knowledge: "How to Distinguish Between Real and Fake Blockchain Bitcoin Inscription Assets" – Click on the 'token details' parameter of the inscription. The last line's 'total supply' ÷ the third last line's 'max minting limit' = the number of times that token has been minted! (Watch out for decimal placements; some folks intentionally add extra digits after the decimal to confuse you.) The minting count indicates the level of decentralization. If it's under 20,000, it’s a shady solo project where the devs hold all the chips right from minting. This has nothing to do with deployment time; it could have been set up ages ago but no one touched it until the dev team decided to pump it, going full wash trading to keep all the gains for themselves. Those inscriptions with a few, hundreds, or even a couple thousand mints? 100% a scam designed to fleece the unsuspecting!
2️⃣ Basic Knowledge: "How to Judge Real vs. Fake Blockchain Bitcoin Inscription Assets 5-Character Inscriptions" – Since the BRC-20 standard rolled out the 5-character tokens, scams have been rampant. Only the deployer can mint these 5-character inscriptions, which means they are 100% centralized from the get-go. Currently, these 5-character tokens aren’t even getting pizza off the ground, even though they airdropped all minted tokens to hundreds of thousands of retail investors. If you see '5-byte' noted under the inscription, it's a pure scam set up to fleece the unsuspecting – stay away!