To avoid getting wrecked by scams in Bitcoin inscriptions, just stick to these two pro tips:
1️⃣ Basic Knowledge: "How to Determine the Authenticity of Blockchain and Bitcoin Inscriptions" – Click on the 'token details' parameter of the inscription. Take the last line's 'total supply' ÷ the third-to-last line's 'minting cap' = the minting count of that inscription token! (Watch out for the decimal placement; some deliberately throw in extra digits to confuse you.) The minting count indicates the level of decentralization; anything under 20,000 mints is a single-player scam project where the chips are all held by the project team during minting, regardless of the deployment time. It could have been deployed ages ago, but if no one was trading it, the project team could later pump it by minting multiple wallets in ten minutes, keeping 100% in one hand to pull a scam! Those inscriptions with a few, hundreds, or a couple thousand mints are 100% scams meant to siphon off retail investors!
2️⃣ Basic Knowledge: "How to Determine the Authenticity of Blockchain and Bitcoin Inscriptions 5-Character Inscriptions" – Since the emergence of 5-character inscriptions under the BRC-20 standard, scams have run rampant. Only the deployer can mint these 5-character inscriptions, which means they’re 100% centralized from the get-go. Currently, 5-character inscriptions haven't even made a pizza; even though they airdropped all minted quantities to hundreds of thousands of retail investors. If the inscription is marked as '5-byte' below, it’s a 5-character inscription – pure scam and a total retail slaughter; steer clear!
1️⃣ Basic Knowledge: "How to Determine the Authenticity of Blockchain and Bitcoin Inscriptions" – Click on the 'token details' parameter of the inscription. Take the last line's 'total supply' ÷ the third-to-last line's 'minting cap' = the minting count of that inscription token! (Watch out for the decimal placement; some deliberately throw in extra digits to confuse you.) The minting count indicates the level of decentralization; anything under 20,000 mints is a single-player scam project where the chips are all held by the project team during minting, regardless of the deployment time. It could have been deployed ages ago, but if no one was trading it, the project team could later pump it by minting multiple wallets in ten minutes, keeping 100% in one hand to pull a scam! Those inscriptions with a few, hundreds, or a couple thousand mints are 100% scams meant to siphon off retail investors!
2️⃣ Basic Knowledge: "How to Determine the Authenticity of Blockchain and Bitcoin Inscriptions 5-Character Inscriptions" – Since the emergence of 5-character inscriptions under the BRC-20 standard, scams have run rampant. Only the deployer can mint these 5-character inscriptions, which means they’re 100% centralized from the get-go. Currently, 5-character inscriptions haven't even made a pizza; even though they airdropped all minted quantities to hundreds of thousands of retail investors. If the inscription is marked as '5-byte' below, it’s a 5-character inscription – pure scam and a total retail slaughter; steer clear!