 But there's a new piece to this puzzle and it's called runes. I don't know if you guys have heard of this This is very new There's a great article put out very quick I'm gonna go over this rule because I want I think this could actually be a catalyst For the Bitcoin miners don't have to be this or to have the price to go to this range Even though it'd be good and be something actually to take a look at and this is why I think that Bitcoin dominance It couldn't go even higher runes on Bitcoin. What the heck is this so? Very easy. What's runes? Runes is a standard token for issuing fungible tokens on Bitcoin. So fungible one-for-one one dollar You can trade it for another dollar same thing, right? And then non fungible are like NFTs non fungible tokens not the same so fungible same non fungible not the same Runes are set to launch in April 2024 coincide with the upcoming Bitcoin having interesting Why was it created? It ruins this is a simple protocol minimal on-chain footprint and responsible UTXO management First of all, what the heck is UTXO management? I just want to explain this to because I've heard this before and I've learned it, but it always escapes me So I want to go over this make sure everybody knows So a good example is this if you got 10 bucks in your pocket someone goes Hey, pay me five bucks. You can't rip 10 bucks in half and go $5. It doesn't work like that It's the same thing with Bitcoin, right? So here's the example. This is a great one from River. So let's say Alex Which is the one on the left here wants to send Julia 5.10 Bitcoin. So how does that work? Well, you got five Bitcoin and 0.2 Bitcoin, so you just can't rip it in half What you got to do is you got to take the five and zero point two And that's the input. So now you got 5.2 Bitcoin and you transferred over here, which is the second step The wallet creates a new UTXO for Julia in the amount of 5.10, but then you got to put it back And you have a change left over which is point essentially. It's just change right point zero nine So every time you get change you get no or more unspent Transactions UTXOs you unspent transaction outputs. So every time you get change essentially you just building this up and building this up Don't know that's why and sometimes in your wallet when you send Bitcoin, you're like, what the heck? Why is it so expensive? It's because The more UTXO or the more change that you have in your wallet the higher the fee is going to be So there's a trick to do it which I haven't tried this myself But you can send the Bitcoin back to your wallet That's what they recommend a river and of course you can get rid of those those UTXOs and Go from there. So but the problem is when you have these UTXO it builds everything up And it's kind of a burden on the Bitcoin blockchain that makes sense. I hope it made sense That's essentially what it is. I try to make it simple as possible So runes is different from the from the BRC 20 which the ordinals which is complex not UTXO based ladder characteristic causes BRC 20 tokens and to produce excessive junk UTXOs which bogs down the Bitcoin blockchain, right? Or congestion goal of runes is replaced to less efficient ordinals. Awesome How does it work? Integrates natural the Bitcoin which is UTXOs helps minimize the creation of junk UTXOs make sense Token supply of runes contained in a single UTXO. Awesome. Supply transfer is 120 a bit unsigned integer So the maximum is whatever the heck this number is Each rune has the visibility which the number of decimals have maximum is 38. So it makes it very simple Tries not to make so many UTXOs Doesn't bog down the system. That's it. So what does it do? What is this do? Runes protocol allow products to issue different types of fungible tokens such as security tokens stable coins governance tokens Whatever you want on the Bitcoin blockchain. You couldn't do that before. I mean you could with L2s and stuff like that but with this one They're trying to make Bitcoin more usable because let's be honest I mean it does a great job of what it does as far as like a store of value and Maybe a hedge against inflation. I just think I just say it's a four-year store of value But if you want to build something more on top of it, which is what all the Bitcoin maximists have been complaining about This is awesome. You can expand Bitcoin's utility attract more users who will enjoy near instant and low-cost Transactions of the protocols potential lightning compatibility In other words runes could help Bitcoin achieve its goal of widespread adoption. Maybe we get to actually buy that cup of coffee with Bitcoin And the last thing more transaction fees will be generated as more people interact with runes tokens. So instead of one Billionaire moving a ton of Bitcoin across the globe and he pays 25 bucks And no one else wants to use it because it's just store of value, right? Now we could actually build something on top of that and actually pay for things and that means that the more people We actually have doing that hundreds of millions. Maybe billion plus people. That's more revenue for the miners Instead of eyes, then we keep securing the Bitcoin network. That's why I think Bitcoin's a big huge play And it's not just the Bitcoin itself stuff like this is gonna revolutionize everything. So I like this I'll let you know when everything works out Or when there's new new information on this, I know we're supposed to have the team from Magic Eden come in As they talk about rune stones and things like that. But again, this is a new A new platform. So I'll try to keep myself updated everybody else But I think this is what I think Bitcoin could Make it to be what it's supposed to do Transactions peer-to-peer transaction, which one is was in the white paper