Runes are worthless, their names are too long, and their distribution is centralized. What on earth are you FUD about?

On the day the Runes protocol was launched last Saturday, there were a lot of posts about FUD runes. In fact, there is nothing wrong with FUD. It shows that the popularity of runes is so high that it naturally attracts a lot of attention. It's just that the dimensions of most FUD are a bit nonsensical, so I still want to explain it.

Overall, the content of FUD runes can be mainly divided into two categories:

1️⃣For FUD set by the Runes protocol;

2️⃣For the value of rune assets FUD.

X/Tweet: @portal_kay

FUD about the Runes protocol settings

1. Does Runes make asset issuance more and more centralized?

After the agreement was launched on the morning of April 20, the most discussed ones were the first 10 runes. But after everyone read it over, they realized that there seemed to be no way to start. Either the project side was 100% pre-mined, or the project side had reserved a large part of the rat bin. Isn’t this a return to the era of centralized distribution?

And my view on this issue is: [It is not more centralized, but more choices].

Among the first 10 numbered runes, only number 0, which is hard-coded by Casey himself, is completely fair to launch without reservation, and the others have varying degrees of reservation. This is not a problem with the Runes protocol, but a choice made by the deployers themselves.

After the BTC ecosystem experienced BRC-20 and various BRC-XXX protocols, Casey actually learned from the experiences and lessons of each protocol (especially BRC-20), and then gradually optimized the Runes protocol to the final level. It looks like it's online. Runes initially planned two distribution methods: Fixed Cap and Fair Launch. In a later upgrade, a setting was added where deployers can retain Premine quota on the basis of Fair Launch.

Therefore, the Runes protocol can support more diverse asset issuance scenarios:

1️⃣Issue Meme coins, 100% Fair Mint, all depends on community consensus;

2️⃣Issuance by project parties Project governance tokens are distributed to investors, ecology and other stakeholders in accordance with the planning of token economics;

3️⃣The reward tokens of a certain project are 100% pre-mined and airdropped to community users;

4️⃣For projects co-constructed by the project side and the community, the project side reserves a part for operational needs, and the remaining part is provided by the community Fair Mint

5️⃣...

In fact, I think Asset issuance driven by project parties will be an inevitable trend in ecological development. It is actually a very low probability for truly ownerless tokens to be able to continue to operate. How many tokens can be cited that rely entirely on the community to naturally gather consensus? In a more conventional situation, wouldn't there be a project party that is doing solid construction, and finally the project will have a sustainable narrative and the value of the assets will gradually increase?

2. Some other FUD

characters of rune tokens are so long, who can remember them?

When I first started to understand the Runes protocol, I also felt that this setting was not good. But on the one hand, long names are not an essential problem. You will get used to it with a little familiarity. On the other hand, long characters can also have their own unique ways of playing. If you don’t believe it, take a look at this ORDINALS•ARE•DEAD that even Leonidas tweeted.

Runes must be sold one by one. What is the difference between that and NFT?

In fact, the Runes protocol itself supports very convenient operations on assets, but the protocol has just come out and various trading platforms have not had time to provide research and development support. Casey also tweeted specifically to explain some of the differences between rune trading and BRC-20 token trading. It can be seen from the tweet that Rune can support any number of transfer transactions, and it does not necessarily require a complete order to be placed.

Casey tweet: The difference between rune trading and BRC-20 token trading

https://twitter.com/rodarmor/status/1781984102713028783

For runes FUD of asset value

1. The rune cost 2000 gas to play. Is this going to be a huge loss?

On the first day the protocol went live, there was a screenshot of the OKX rune market that was eagerly forwarded. Then the KOL who tweeted will add one or two sarcastic words such as "Is this the rune you want?" "This is what you want for 2000 gas?" However, the statistical method used in this screenshot is actually wrong. OK, I probably made a mistake in the price starting point of these newly launched runes, which led to an error in calculating the increase and decrease.

So, will everyone who participates in the new rune game on April 20th lose money? Below is a list of several targets that were deployed and launched on the first day and have good returns (note: the "Unisat transaction price" is a relatively compromised price). Of course, this does not mean that you can make money by blind typing after the release of all rune projects. In the end, you still need to do solid investment research to find good targets.

In fact, this type of FUD is mainly due to two reasons:

1️⃣ The poster mainly holds BRC-20 or EVM ecological assets. After seeing the popularity of runes, a large amount of traffic and funds were attracted In the past, I instinctively began to reject. This type belongs to the category where the butt determines the head. Because it is heavily invested in other assets, it is natural to worry about runes siphoning funds from other sectors. This kind of FUD can basically be ignored, because his interests are there, and this cannot be solved with reason.

2️⃣ Human nature naturally rejects new things. The Runes protocol is a new thing to many people. If you have not read some information before, you must be unfamiliar with it. People are naturally repulsive to unfamiliar things, and this is understandable. But as a crypto player, rejection of new things often means missed opportunities to make money.

What are you guys FUD about?

After sorting out the above FUD content, I suddenly felt that these might be just superficial. So essentially, what is everyone FUD about? I guess what everyone is really FUD about is [the spam of assets with no fresh narrative]!

In fact, after experiencing the wave of BTC assets driven by BRC-20 in the past year, everyone is no longer willing to fomo for the issuance of uninnovative assets. After all, a lot of Ordinals small pictures have been reduced to zero, various BRC-20 inscriptions that were highly praised at the time have also been silent, and there are all kinds of BRC-XXX protocol assets, but few people can remember them. Everyone finally understood that the air is still there, and it will basically return to zero in the end.

The current BTC ecosystem is in such an embarrassing period. Asset protocols with strong consensus have been released, but practical applications have not yet been born. In the end, the asset protocol is just a value-carrying medium. Only when the assets flow in DeFi, GameFi and other landing applications, can they be considered to have certain practical value.

But there are various signs that this embarrassing period should be over soon. Various applications are also in the early stages of being born, and now it is like the dawn of the BTC ecosystem's explosion... Please give the BTC ecosystem a little more patience.

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