Bitcoin Apes

        

Bitcoin Apes are byte-perfect Ordinal inscriptions of the Ethereum-based apes, fully on-chain

What are Bitcoin Apes?

Bitcoin Apes are byte-perfect inscriptions of the original Ethereum-based apes to the Bitcoin blockchain using Ordinals

On Ethereum, the tokens link to externally hosted images. In a historic first, Bitcoin Apes stamp the image onto the sat creating an immutable, Bitcoin native, fully on-chain, digital artifact.

The art is now stored immutably on Bitcoin forever, meaning it can never be removed

What does byte-perfect mean?

Many inscription images are edited versions of the original. Byte-perfect means exact digital representation : the matching SHA-256 for every image

Bitcoin Apes is different from traditional NFT projects because it has no founders. Instead, every inscriber or holder is a co-founder.

We came up with the name Bitcoin Apes, built this Discord, and created https://bitcoinapes.com/ as a resource to help others after struggling to inscribe v1 byte-perfect images.

The community inscribed themselves on the Bitcoin Blockchain and the transaction fees went to the Bitcoin miners

Our situation is similar to other collectors :

– there was no sale
– no fees from the inscriptions, the collection was free to inscribe and the fees for inscribing on the Bitcoin blockchain went to miners
– no royalties are being earned on the secondary market

Data

– Total data inscribed on the bitcoin blockchain : 1.46 GB
– Total Network Fees : 39.21 BTC ($1.1M USD at the time)
– Average image size : 146 KB
– Average inscription fee cost per image : 392114 sats ($110 at the time) – fee that went to Bitcoin Miners. Fees were different for each inscription depending on file size and the the sat/vByte used by the inscriber

BitcoinApes impact on ordinals and the Bitcoin Blockchain (data on the 10th of april 2023)

– $1.1 million out of $4.6 million+ in total inscription network fees (23.9%). Fees that went to Bitcoin miners. Not counting V2s, V3s…
– 1.46 GB out of 8.3 GB (17.59%) total inscription stored data
– ~0.292% out of ~500 GB total Bitcoin Blockchain data
– First large collection with big high quality files on chain (never been done on any other chain) – Average of 146KB PNG files
– First time Ethereum-based apes matching SHA256 images are stored natively fully on chain. Hasn’t been done on any other chain. Ethereum-based apes images are stored on IPFS. We hope this will be a celebration not only for the community in here, but even for the Ethereum-based ape holders

Inscription Stats

1st inscription #: 8962

Inscriptions per inscription # range:

0 – 100000: 51
100000 – 200000: 264
200000 – 300000: 389
300000 – 400000: 263
400000 – 500000: 2287
500000 – 600000: 6746