Faz

@fazzer116

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If you want to learn more about runes, give me a follow. I’ll be frequently posting here now

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Runes are going to make the early adopters a lot of money, however, you need to know what projects are going to make you rich. Pay attention to all the big Ordinal projects that are going to launch Runes.

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Now that you understand Runes protocol a bit more than before. I advise you to be ready as the protocol will launch on the day of halving.

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The OP RETURN will specify that 25 of Rune XYZ will go to 3rd output which is Person B’s address. And the remaining 75 (unspecified) will default go back to the 2nd output which is Person A’s address.

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For example: If person A wants to send 25 runes XYZ to person B. You would create a transaction. Then there will be 3 outputs, the first one will be an OP RETURN output, 2nd is an output with Person A’s address and 3rd is the output with Person B’s address.

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This protocol message is called Runestone. How does Runestone work? This is done through an OP RETURN based protocol. An OP return contains a 0 value of Bitcoin. All it does is, it contains data.

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An example shared on how Runes are going to be transferred from one to another by Casey: First, you have to understand that by default all runes go to the first output. In addition, you can add a protocol message to a transaction that will do a non-default assignment. Let’s say you want it to go to the second output.

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If I had to simplify it, think of it as having currencies of different countries in your wallet. You have US dollars, Australian Dollars and British Pounds. All are stored in the same wallet.

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UTXOs are extended now not only just to store Bitcoin but also to store runes. So you could carry Bitcoin and runes. This means one UTXO can carry a Bitcoin, Rune x and Rune Y.

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Part 2 A transaction is then allowed to take some inputs and destroy them and create new outputs that exist where the sum of the outputs that are created is greater than or less than the sum of the outputs that are destroyed.

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Part 1 - What does that mean? A UTXO transaction has some inputs and outputs. Each of these inputs and outputs have some amount of bitcoin in them.

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Now that we know what fungible token means, let’s explain how Bitcoin works and how Casey is going to use the same mechanism for the Runes protocol So Bitcoin and Runes are UTXO based: UTXO stands for Unspent transaction outputs.

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What are Runes? Runes are going to be the new fungible token protocol on Bitcoin. What do you mean by fungible token? Fungible means a form of asset that can be traded or exchanged for one another. For eg: 1 USD = 1 USD (regardless of its form), the same as 1 Bitcoin = 1 Bitcoin.

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I’m gonna pump out various posts about runes explaining what it is and how you can leverage it to make the $$$ during the halving If you’ve learnt anything from my posts, appreciate it a recast or any sorta love

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What is the purpose of Runes? Runes are going to bring the speculation, gambling and entertainment back onto Bitcoin. Take liquidity, technology and attention from all other cryptocurrencies and bring it back to mother chain.

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Don't sleep on Runes! Buy a Runestone, wait till the halving, receive the airdrop, HODL. Get RICH ᛤ

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Are you able to cast a thread? I can't see that option

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I like this 🙌🏼

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Always support artists! You’ll be rewarded

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