Stompix is correct, YOU want the change, not him, Ordinals are real, they are already in the blockchain, and no change is required to keep them there, on the other hand, a change is needed to ban them, so it's not like we are trying to convince you to let Ordinals in, they are already sitting on the couch, it's the folks who want them out of the house who are desperate for a change in the protocol, so his statement is perfectly stated.

Oh, and as for your little poll thread, please don't take that too seriously, the percentage of Bitcoin users who are going to see it rounded to a whole number will be zero, the only way to find out is to wait a few years and see, if Ordinals stay alive it means enough people wanted them - if they die, it means the opposite, simple free-market capitalism.

Hello everyone.
I think some people interpret this whole situation a little bit wrong so I wanted to share my opinion on this topic.

I think the banking contagion is now over. The government and federal reserves backstopping the banks with the protection of assets above 250k. So we won't see more bank runs because people know that their money is protected now so banks are safe.

Some people and media also say that the system broke and that means that federal reserves won't rise interest rates at the next meeting. And I think it's completely wrong. I think they will just rise rates for another 0.25% as a response to the SVB situation. The inflation is still pretty high and FED will keep fighting it, they can't afford to stop right now.

So I think we will still see a lot more bankruptcies, there will be more layoffs and the stock market will keep suffering from that. This also means that bitcoin will probably find a new bottom.

The Swiss National Bank (SNB), together with the Swiss Financial Market Supervisory Authority, issued a press release stating that the problems of some banks in the US do not pose a risk to Swiss banks. And Credit Suisse has everything in order - it meets the requirements for capital and liquidity.

Well, CS, for its part, immediately announced its intention to get access to the SNB credit line in the amount of $54 billion. "Which will certainly support business and customers."

The collapse of the global financial system is temporarily delayed.

Borrower Eligibility: Any U.S. federally insured depository institution (including a bank, savings association, or credit union) or U.S. branch or agency of a foreign bank that is eligible for primary credit (see 12 CFR 201.4(a)) is eligible to borrow under the Program.

https://www.federalreserve.gov/newsevents/pressreleases/files/monetary20230312a1.pdf

The thing with software wallets is that there's always a chance of a private key leak simply due to the fact that your wallet's private keys were generated through your computer/mobile device. And add the fact that it's closed source? We have no idea how secure the wallet app is.

Next time, grab a hardware wallet.

without code changes.. the spam, by just sitting in mempool plays with the fee structure
it also plays with the tx per block structure
it also plays with the time expectation for payment settlement

but hey an exploit has been allowed and you dont want to fix it because you think its not broke

oh and the fee mechanism you think will "figure itself out" wont figure itself out to make spam disappear in blocks...
because said spam can manipulate fee's of other people in the pending(zero-confirm) stage of mempool filling

nah its not.. but nice try. i guess the latest campaign script has deceived you again
forget the campaigners that recruited you...
. forget their scripts for one moment
where you are pretending to be against the bloat memes. but then loudly saying you dont want the meme spam to stop and instead want everyone else to pay more

to fully enforce a fee mechanism to scare(not completely stop) meme bloat requires enforcing full node compliance to reject blocks that contain transactions that dont honour the fee mechanism, which can cause forks

yet meme bloat have other tricks to pay less than the average so even with such enforcement it wont completely stop them

Choas across all the markets. Silicon Valley bank has collapsed in a manner of hours due to a bank run caused by the fed hikes. Right now there are half a dozen banks with double digit losses trading like low cap alt-coins. The worse of this is Charles Schwab. And I think the fed will finally step in to protect it.

The fed doesn't care about Silvergate or Silicon Valley but Schwab is pretty big. I think any day now we will get the pivot and all markets will rally which are considered risk-on. Sure inflation is bad but I don't think the fed wants a major bank collapsing sending shockwaves across the entire financial system.

If the fed pivots then Crypto and stocks should rally. The hint is in the bond markets. Currently they are rallying like crazy.

A fork is a bad idea because it would prevent future extensions to Taproot (witness version 1) which is the reason why this mess was allowed in first place. Not to mention that forks take a very long time to reach consenesus.

As I've said many times the correct solution should have been using standard rules to prevent this type of spam like what we have been doing all these years!
You see Ordinals attack could have happened before Taproot too but it was successfully prevented by standard rules. But after Taproot for some unknown reason the devs decided to not add any standard rules when verifying Taproot scripts (eg. a DISCOURAGE_BIG_SCRIPTS flag) and we are seeing this unwanted attack vector...

I wonder if higher education will help for entrepreneurship?

I am more interested in how much theory will help in this, because during a long study we do not get practice, this will be possible only when we start doing business, until that moment we will not be able to know how much it will help us.

This can help us if we need a license, but in some cases it can be obtained without a higher education.

Statistically, 95% of entrepreneurs have a bachelor's degree or higher and I wonder, for those of you who are involved in entrepreneurship, how useful was higher education for you?

Mini Update March 13, 2023

Does my prediction is correct again? take time to read my past updates on my analysis regarding the price and the movement of the bitcoin. I said that it is considered as healthy move that the price retrace on the level of $20,000. I also mention that I'll get as much as position becauseu the price is currently at the major support. Luckily, I followed my plan and I have big positions in a lot of coins and I'm currently 30% up in my total portfolio.

A lot of people got scared because of the retracement of the bitcoin, it only shows that they do not fully understand the psychology and market sentiment. As for my next prediction, the price of the bitcoin will consolidate and eventually break the $25,000. Take note that it is really good time to acquire positions in the consolidation level so guys good luck and happy trading again! If you want to make money then consider my analysis but also make sure to have good risk management and solid plan.

The current weekly chart as of now:


The current daily chart as of now:

The title sounds all too familiar, doesnt it? We are seeing this in real time and its pretty wild! This is one of the main reasons that Bitcoin was created, to create an alternative to the fiat trash money. Tomorrow morning President Biden will speak on the 2 bank collapses that happed in the past week, and of course he is going to follow in Janet Yellens footsteps assuring that the US Government will bail the failed banks out and that all the depositors money is safe, but with what money? The printers are running nonstop, they have to be. The US defaulted on their debt recently, I mean all the conditions are not looking great for USD.

Are we seeing the beginning of the domino affect on US AND ALL GLOBAL BANKS?! Is the USD going to finally collapse? I don't think just yet, the FED is going to pull some strings to delay yet again but how much longer can they hold up the inevitable?

It is paranoid and super expensive doing all this just for one hardware wallet, I am not talking if you are dealing drugs, selling alcohol or nuclear fuel all the time, so you need to have this.
But go ahead and keep recommending people to buy fake ID (aka commit crime) because that is ''standard safety measure'' in your world
What I proposed is 100 times more simpler, cheaper and safer, plus you don't have to commit any crime along the way.

Who's "we"?

I'm sorry that I'm responding without reading the last page with devotion, but it's just frustrating observing established experts going against the Bitcoin spirit without noticing. There is no "we" in transactions. I don't expect the majority of you to approve my transaction from an ethic standard when I make it. Nor do I expect you to feel I have circumvented your space. I don't even expect you'll attend to talk about it. The only thing I expect is that it will be done in 10 minutes.

You know you can't have both the most freedom preserving currency in the world and simultaneously dictate miners how to do their business or which transactions pass the collective approval.

Yep, I more or less agree -- my remark was about the way the "sub-consensus" works in the case of Ordinals and Omni/Counterparty, and it's identic. Both assign "significance" to data which would normally be read as "arbitrary" with the standard Bitcoin tools (which follow only the Bitcoin protocol).

I've thought a bit how the Ordinals problem could be dealt with without censorship or hard forks, but simply using incentive mechanisms and/or possible soft forks. Apart from making ordinal-type taproot scripts non-standard, which could be a "short term" strategy but is a bit of a "hack", I think there could be a more long-term oriented, "cleaner" strategy to provide a clear "incentive framework": creating two new transaction types with even better witness discounts than Segwit-style transactions.

The first type would be for pure financial transactions without OP_RETURN scripts nor any contracts. It would get 4x discount in comparison to today. Maybe even with a privacy mechanism in the style of Monero or Grin.

The second type would be for small data inscriptions with a single OP_RETURN output to up to a few hundreds of bytes, and would get 2x the Segwit-style witness discount. I would prefer 200 bytes instead of 80, or even a bit more, to be able to support at least some of the Ordinal Inscription use cases, without opening to things like JPEGs.

For larger inscriptions, a "data sidechain" could be supported "semi-officially", with a client offering to store inscriptions which are hashed into a small OP_RETURN output, but separately from the main chain. (This could include the "notify and takedown" mechanism I outlined here).

We could allow some more types to be supported by the 2x category, like popular contract types (multisig, atomic swaps/Lightning HTLCs and channel openings etc.). There could be a mechanism similar to "standardness" to enable them for that category.

We would then have a new "minimum fee level" 4 times lower than now, so - always having the current "fee market" in mind - the fee level for the current categories would be moving two "steps" higher for the current transaction types:

- standard non-segwit transactions: paying 8x the new minimum fee
- standard segwit transactions with full contracts, including Ordinals: paying 4x the minimum fee
- new "small data" / limited contract transactions: paying 2x the minimum fee
- simple financial transactions: paying 1x the minimum fee

Ordinals Inscriptions would then, on average, pay approximately 4 times the fees they pay now (with similar network congestion).

This is just a very general idea, which should (from my understanding, please correct if not) be achievable with a soft fork. The advantage is: we would not rule out new contracts and innovation in that field, but make it up to 4x more expensive until it is accepted generally.

I hate to agree with franky but he is right. There are people in this topic and elsewhere that for different reasons refuse to acknowledge the scam nature of this whole thing. Ordinals is not part of or enforced by bitcoin consensus rules or any other consensus rules, it is basically an illusion created and controlled by a centralized authority and is sold to people who are unknowingly attacking bitcoin.