Saturday 27 May 2023

Do NFTs and Meme Coins Hurt Bitcoin?

There has been a backlog of transactions sitting in the mempool and high mining costs in recent weeks, making it difficult for users to interact with the Bitcoin network . In May 2023 a torrent of NFTs and BRC-20 meme coins joined the network making “ordinary” Bitcoin transactions more difficult to fit into blocks . Since the present scenario has affected some individuals negatively the question “Is Bitcoin under attack?” has been making the rounds in online forums, newsgroups and social media .

People Have Different Opinion on Bitcoin’s Situation

The Bitcoin community is still divided about whether or not there has been an assault . Recent facts and occurrences are the subject of speculation .
Calle, a company that creates Lightning Network-related products tweeted in jest about the issue early on Monday morning (August 8), writing “Speak attack one more time” with a picture of a character from a Quentin Tarantino film brandishing a gun .

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