Quick Facts

The Allure of RBF Sniping

RBF Sniper Experience

Lessons Learned

Quick Facts

• Ordinals is a layer 2 protocol built on top of Bitcoin that enables the creation of unique digital art.
• RBF sniping involves using a specific transaction type to replace an existing, higher-fee transaction with a new, lower-fee version.
• The goal of RBF sniping is to “sneak” in ahead of other bidders and capture the desired Ordinal at a lower price.

I Became an Ordinals RBF Sniper to Get Rich… but I Lost Most of My Bitcoin

As a passionate collector of digital art and a keen observer of the rapidly evolving Ordinals ecosystem, I couldn’t help but be drawn in by the allure of RBF (replace-by-fee) sniping. The promise of getting in at the earliest possible moment to snatch coveted Ordinals digital art at rock-bottom prices was too enticing to resist.

For those new to the Ordinals scene, a brief primer is in order. Ordinals is a layer 2 protocol built on top of Bitcoin that enables the creation of unique digital art, also known as “inscriptions”, which are stored on the Bitcoin blockchain. These inscriptions can take the form of images, audio files, or even text-based creations, and they come with a set of characteristics that make them highly valuable to collectors. One of the key drivers of value in the Ordinals market is rarity, with limited-edition inscriptions being particularly sought after.

My RBF Sniper Experience

I decided to take the plunge and become an Ordinals RBF sniper, hoping to build a large collection of rare digital art and potentially flip it for a tidy profit. I spent hours researching the intricacies of RBF, studying the Bitcoin forums, and scouring online communities for tips and tricks. With my newfound knowledge, I crafted a plan to target specific Ordinal inscriptions and patiently waited for the right moment to strike.

The first few days were exhilarating, with my RBF sniper skills seemingly paying off. I managed to snag a few highly sought-after inscriptions at significantly lower prices than others were paying. The rush of adrenaline and the sense of accomplishment were intoxicating, and I found myself basking in the glow of my newfound success.

However, as time passed, things started to unravel. My transactions began to get stuck in limbo, caught in a cycle of transaction conflicts and waiting for sufficiently low-fee transactions to clear. It was as if I had become a mere spectator, helplessly watching as the Ordinal market – and my collection – slipped through my fingers.

Lessons Learned

In the end, I was left with a paltry 10% of my original Bitcoin stash, a sobering reminder of the importance of humility and risk management in the world of Ordinals. While I won’t be quitting my day job to become a full-time RBF sniper anytime soon, I do appreciate the experience – and the valuable lessons I learned along the way.

For those interested in trying their hand at RBF sniping, I would offer the following advice:

1. Understand the fundamentals: Before diving into the world of RBF sniping, make sure you have a solid grasp of Bitcoin’s transaction mechanics and the Ordinals protocol.
2. Practice caution: Don’t get caught up in the excitement of the moment; take your time, and carefully plan your transactions.
3. Diversify your approach: Mix up your sniping strategies and tactics to stay one step ahead of the competition.
4. Be prepared for setbacks: Even the best-laid plans can go awry; have a contingency plan in place and be prepared to adapt.
5. Keep learning: The Ordinals ecosystem is constantly evolving; stay up-to-date with the latest developments, and be willing to adjust your approach accordingly.

Despite the costly failures, I remain optimistic about the future of Ordinals and the creative possibilities it offers. As the market continues to mature, I’m excited to see the innovative ways that collectors, artists, and RBF snipers alike will adapt and push the boundaries of what’s possible.