@The0xJuan on twitter has made a thread that explains what the BRC20 standard is and what are the potential uses of this in the cryptospace.
--snip--
So BRC-20 is "build on top" of Ordinals, while Ordinals is "build on top" of Bitcoin. In addition they also use JSON format. Size wise, it's definitely inefficient due to combination of overhead by Ordinal TX and JSON format (rather than more compact format). And IMO it's usage is far less important compared with Ordinals where people theoretically could store more important data. gotta love everyone using the "on top" subliminal to try to pretend things are better, above, newer, an upgrade etc. bitcoin is ontop everything else is side or below, underneath, sub using forum speak(something some only know) yep bitcoin is the main topic. all other things are sub topics ordinals v3(brc) is not even a feature or functional thing. using forum speak. trash/scam board Or maybe people use term "on top" because that's what term people/news media usually use. In addition, my previous reply actually criticize BRC-20. And if we're talking about accuracy of the term, i would say term such as "use" or "utilize" is more accurate. when people say an actor is on TV they do not emphasize that the actor is actually sitting ontop of a 60inch LED tv they mean he is displayed within the tv screen transactions when said are on the blockchain. does not mean they are above or a new replacement next gen thing to the blockchain. they mean its in the blockchain. however idiots try to emphasize certain things as being the upgrade, the 2.0, the next gen, the evolution. the above thing, the replacement when they mention certain crappy schemes as being "ontop" services/apps of a operating system are not ontop as in the next gen operating system domains are not ontop of a TLD not all technical things or buzzwords use ontop. however idiots love to over use the ontop when it suits them to hype up scammy things ordinals is not a protocol or a useful/true value feature of a protocol.. because the promise/description does not match the parameters. they dont follow logic of math/economics/transfer proofs to be something of a useful protocol or system or program at most they are a broken pretend feature.
|
|
|
doomad yet again you are looking like an idiot. your latest script to promote continuation of spam due to santa 2014 is another fail on your part people were not spamming every block with ascii art. satoshi didnt not spam every coinbase with political statements
it was not a big deal because their occurances were rare and devs thought it was not at a intolerable level of spam to be worthy of dealing with.
realise that what is happening now is spam because they are doing it in every block its becoming a problem that is affecting other users. yep its a spam attack. rather than a random act rarely
no one cared when it was a couple tx a year. it becomes a problem when its in every block taking up space that could have been used to fit in several other peoples actual payments of real bitcoin utility
i do laugh though how you want the scamming and bloat to continue because you think no one complained of the rare events of a decade ago.
there is no comparison to those rare events and whats been happening in 2023 go learn whats actually happening and stop trying lame excuses to find ways to think of to make it seem like the spam attack should continue and not be fixed
yes people put junk on the blockchain rarely. but not to the extent of 4mb of junk so no one cared. yes people put junk on the blockchain. but not to the extent of every block so no one cared.
its now a problem. thats gone beyond acceptance
.. i know you are trying your hardest to pretend to be american and wanting the american dream so lets word it like this
guns are not a good thing. they cause damage but when 99.99999% of people dont abuse guns affecting their community every 10 minutes. guns are tolerated but if everyone started shooting every day. killing off normal daily activity in their neighbourhood. then guns need to be dealt with
that christmas art in 2014 did not cause a fee war of fee rises it didnt cause any controversy. compared to whats happening in 2023
and one last thing. i know your not smart enough to actually do research to find the ascii art example. your not that kind of person to spend time looking for things. so whomever it is handing you examples of things for you to then use as part of your scripts. tell them to get a better job. and then get a better job yourself
now here is some reasons why the spam needs to be handled unlike santa art in 2014, ordinals: takes up more space per block for non bitcoin purpose the content causes negative effects on all bitcoiners the content is a demonstration of a scam.
and here is the main point much like the fears of putting illegal porn on the network, having a scammy pretend ICO within bitcoin makes bitcoin fall into the jurisdiction of the SEC wanting to stop scams, boiler room investments, etc... meaning they are more likely now to want to stop bitcoin functionality. luckily so far ordinals are just a couple idiots spamming. and not a wide community of duped victims actually buying the scam. but if it became a thing of mass idiots getting scammed buying this crap. it would lead to alot more pressure on the SEC to limit bitcoin utility. (blacklisting more coins. getting exchanges to stop accepting bitcoin at the extreme)
these ordinals are an entire different scenario compared to santa 2014 ascii art
|
|
|
domad you continual idiot. YOU are the one saying its acceptable im the one saying its not.
you are so broken in your mindset you forgot which side you are sponsored to fight its YOU that keeps saying devs should not close the exploits, should not turn of the opcodes that exploits use.
|
|
|
doomad those idiots dont have idea's they steal idea's off others..
i have been spouting my opinions before they were even a thing and you know it.
they are trying to grab onto people that dont like core but dont want ethereum either. there are many many many people that dont like core for many reasons so dont think it should be pidgeon holed into a ver/wright camp.. instead learn whats wrong with core. take the ass kissing out of your mind. and learn
core do have their failures. they are humans not gods.. ill repeat that because you treat them as the latter they are humans not gods
when you finally realise that they have enabled exploits and do moderate(censor) and mandate(censor) and that they now dont want to fix their holes. you might see their actions are worse then the scripts they tell you to recite.. if you were truly a bitcoiner and not a subnetter you would not be sucking up to any human. and instead wanting the code to do its intended purpose and realise the stuff they allow has been done to mess with the network
bitcoin had a great purpose which is why i stick with legacy and funnily enough a few of the devs that are telling you to promote your scammy stuff themselves stick with legacy transactions too. so you are definetely being duped into yor rhetoric or paid for it
so instead of taking dev comments and project manager comments as gospel to sell the schemes you promote. how about read the underlying code, read the real immutable blockdata, apply some logic, common sense and math. and realise what you are promoting from bad scripts passed to you. maybe break away and for once actually stop sounding like you are an ass kisser trying to get a promotion
.. as for "text in the blockchain" well yes its been around along time my disputes about ordinals v2(memes) is the upto 4mb of the junk my dispute about the 56-80 bytes average of ordinals v3(brc) is that its non functional data
and in both cases they are scams because they are presented as being nft things. but in reality they are not. they have no proof of transfer mechanisms that actually work
its like he is making sure his schemes are broke so he can see how many idiots fall for his scams. maybe create a blacklist of idiots to then sell to other scammers so they can scam more idiots.
.. as for being productive. there are fixes and i have even suggested some the thing is that posts get deleted and idiots like you that kiss as core devs dont want fixes being presented to core,. you want core to carry on making exploits becasue you treat them as central authority and no one should question them(a big hypocritical moment to your pretend stance about being against central authority yet adoring cores central point of failure and its hierarchy of control measures)
|
|
|
doomad you are getting desperate in your sponsored advertising.. i know you are losing fans so you occassionally make a post to say ordinals are crap to try and win some loyalty.. but then you go back to sponsored scripts..
i do hope your contract is up soon and they see how much your campaigning has failed and they dont renew another season of your scripts.
we all know that LN mixers and ordinals are sub-par, low standard. disfunctional services. heck you cant really even describe them as a feature. they are not doing what they promise.
the exist. but this does not mean they are part of of ontop of bitcoin. much like CEX are not bitcoin or part of nor ontop of. they are around, at the borders, outside, offramp
there are many many many descriptors for positioning. but you and your buddies wanting to endlessly only want to use the ontop of. is false
ordinals does not build ontop of existing protocols/principles. ordinals developers do not even know the basics of the principles of bitcoin nor the mechanisms within bitcoin at play. heck it uses an exploit not a main feature of bitcoin.
|
|
|
@The0xJuan on twitter has made a thread that explains what the BRC20 standard is and what are the potential uses of this in the cryptospace.
--snip--
So BRC-20 is "build on top" of Ordinals, while Ordinals is "build on top" of Bitcoin. In addition they also use JSON format. Size wise, it's definitely inefficient due to combination of overhead by Ordinal TX and JSON format (rather than more compact format). And IMO it's usage is far less important compared with Ordinals where people theoretically could store more important data. gotta love everyone using the "on top" subliminal to try to pretend things are better, above, newer, an upgrade etc. bitcoin is ontop everything else is side or below, underneath, sub using forum speak(something some only know) yep bitcoin is the main topic. all other things are sub topics ordinals v3(brc) is not even a feature or functional thing. using forum speak. trash/scam board
|
|
|
I’m speculating that this guy is trying to get away with taxes by sending his money as donation on projects that he is involved behind. I smell tax evasion on this rather than a lose bet. What do you think?
his money being spent is not tax evasion on his part becasue he is not the receiver as for the 3 "entities" there are many ways they can avoid tax on their receipt. most of the time its doing personal loans with non enforced repayment of service or $1 in 30 years to settle it (limp terms)
|
|
|
cause of volatility is not "crypto", its the international access and free market that shows the variance of international value/cost
reason for volatility is that actual VALUABLE crypto (those with real world cost of mining) have a wide range of underlying cost depending on region of the planet meaning someone in iceland can mine for $20k where as someone in hawaii can only mine for $120k meaning their acceptable rates differ meaning a wide amount of speculation window inbetween whereby people pick what price they are willing to sell down to or buy upto
its more about the international ability of access rather than "just crypto"
fiat commodity markets do this hidden thing.. however backwards to crypto
buying wheat from the UK/US to put onto the international commodities market has no 'profit' however buying wheat from slavic/asia regions and putting it onto the international commodities market has alot of profit.
they just have many fiat commodity 'circuit breaks' and mechanisms to stop the international markets from being volatile due to international variance.
this is called monopolising the price and manipulating the price to a fixed range. rather than a 'free market' of volatile prices that match individual countries true costs
fiat commodities/shares/stocks also require participants to use agents/portfolio managers/traders to access shares who take cuts from the actual investor. and you can only buy whole unit shares/stocks
with bitcoin people can solo buy decimal amounts
not all cryptos will "make you rich" nor worth what they are priced at. because 99.99% of cryptos have no underlying value/cost of creation. they are just ICO scams/premines/pos crap that costs nothing to make. thus their potential lacks many things of real currency and economic value. its just idiots scheming idiots to see who is left with the worthless bag
bitcoin has underlying cost value(PoW) and the way the halvings work this incentivises true deflation. and along with it comes the hash competition that helps push up the cost/value that supports the speculative price
|
|
|
lets take one example ordinals v3 tried to pretend to send some brc to a legacy address https://ordinals.com/tx/885441055c7bb5d1c54863e33f5c3a06e5a14cc4749cb61a9b3ff1dbe52a5bbb{ "p": "brc-20", "op": "transfer", "tick": "ordi", "amt": "100", "to": "1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa", "fee": "1337" } the input(utxo) that signed this was transaction https://ordinals.com/tx/23b19e4219c70f627ab128fd04a5061200d181462b1135be3844e8ecb9ad9aebwhich had no 'ordi' amount linked to it yep casey could not even pick the right utxo that 'mined' brc 'ordi' to then spend to the legacy address thus there is no taint path from source to destination of brc 'ordi' heck even when you look at the real BTC sat transfer of txid beginning 885441 even the sats dont go straight to 1A1zP address either, instead they go to bc1pxaneaf3w4d27hl2y93fuft2xk6m4u3wc4rafevc6slgd7f5tq2dqyfgy06 yep there is not even taint linkage of real sat (his ordinal v1 scheme) to his brc(ordinal v3 scheme) that works together .. and thats without even mentioning many other flaws
|
|
|
and all of that twitter description is deceptive and wrong as the transfer part doesnt work casey and his cult have no clue how data/crypto proofs. work its all a scam for the "creators" to scam people out of funds
i guess it will work until it doesn't and then people will cry scam. imagine someone buying alot of tokens only to find out they're really worthless. most tokens are you know. even on ethereum. but these ones on ordinals especially would have to be. they aren't even real. maybe someone uploads an ordinal to adjust their balance to way more. as a hack. it doesnt work from the start. its the perception of working but not the economic/logic/proof of working.. its still dead data stuck in the input script. not something that proofs to go to the output which can then be transfered seems they took an idea i mentioned months ago about putting tx inside tx. but forgot about true proof of transfer and ownership logic. ethereum tokens actually have transfer logic and proof. ordinals v3 does not. ethereum tokens are not minted with an real cost(pos vs pow) so its underlying value is questionable which becomes the old addage of "given value by agreed desire of value" rather than intrinsic value(pow cost) where as ordinals v3 are not even that. no utility or purpose not underlying cost in brc creation. so absolute no value one saving grace is that regulators are now looking into people ICO scamming and casey will have his day one day being on the bad side of that. but the victims of his scams wont get any form of refund/compensation 99.999% of caseys ordinals v3 are not users of a large community trading. its just a couple idiots spamming
|
|
|
and all of that twitter description is deceptive and wrong as the transfer part doesnt work casey and his cult have no clue how data/crypto proofs. work its all a scam for the "creators" to scam people out of funds
|
|
|
That's the problem. Constant NFT inscriptions will eventually clog up the BTC blockchain to a point where TX fees will become highly-expensive. This will force us to use an off-chain scaling solution such as the LN for day-to-day payments. BTC was never meant to be used as a "multi-purpose" Blockchain. For that, we have smart contract platforms such as ETH, ADA, BNB, and so on. Leaving Bitcoin solely for finance is best to prevent network congestion or adding security risks to the same. I guess Bitcoin Core developers are going to need to work on another upgrade to help alleviate high TX fees for a while. Either that, or nodes/miners stop accepting transactions related to Ordinals inscriptions for good. Let's see how everything will turn out to be in the long run, as Ordinals rises on popularity. Just my thoughts 1. ordinals v1 v2 v3 are not nft. they lack many mechanisms of true proof functionality. the way i view caseys projects is a toddler using crayons(making a mess) and idiots clapping their hands thinking he is van gogh 2. LN has failed its promises and if you actually run scenarios. it bottlenecks MORE and has liquidity issues MORE the more its used. thus its a path to a deathly cliffedge. so dont put much hope into LN success. its a path of zombies walking to their second layer death. its design is bad. something new needs to be created to service the niche users that want offchain utility.... simply put, LN is not it 3. other altcoin subnetwork bridges have managed to achieve better fund reserving of bitcoin locks to then use other altcoin subnet bridges to give functionality to such value needs. yep many have given up hope of LN and are now using other bridge networks to play with value(avalanche achieved more btc locks than LN. in a third of the time too) 4. core developers already have enabled sat/kb but idiots dont want people transacting below $2 average fee and its them same idiots promoting ordinals as a positive of pushing fee's up. rather than letting a real 'natural fee market' to bring fee's down due to lowering the minimum 5. ordinal users are few and far between its been seen to be less than a dozen people all colluding together. hence why ordinals v2(memes) coincidentally all died within the same week. (if it was many random users(decentralised) you would not see this coincidental event happen, much like achieving pure 100% consensus is unnatural and instead an example of exploitation. going to 0% memes is also unnatural in a random world of decentralisation. which reveals the ordinal adoration brigade are not decentralised but instead a small group where they decided they have wasted enough of their time, at the same time. 6. bitcoins function is financial proofs of satoshi unit transfers. which come with rules that should protect it, bitcoin is not about treating one sat as different value of another, nor a meme library. nor a multi currency/token network. i do laugh when some who shout BTC=BTC then go full retard in another(sponsored) direction to try to claim one btc is worth more than another. trying to break bitcoins economics. all so they can damage bitcoins utility in so many ways that it makes people not want to use it. as thats their end game. they care more about the fame of causing controversy and being infamous for breaking things. rather than caring about the real utility of bitcoin. they are small minded idiots that dont care about bitcoin. 7. you can spot these idiots because they promote other networks and scams, they want bitcoin fee's to be expensive and they want bloat but hate people using bitcoin for normal purchases of goods and services. those people that dislike bitcoin being used to buy coffee but happy for it to be spammed, while calling coffee purchases the unneeded spam but not wanting ordinals to be called spam
|
|
|
music is also junk
bitcoin has a purpose. much like litecoin, monero, other alts have different purposes. bitcoins purpose is not a data dump of random data. its about a proof of work system to lock transaction data linked to the proof of ownership and transfer of units called satoshis
the trojan backdoor exploit that allowed ordinals v2 to occur should and needs to be fixed. whereby each opcode should have a requirement/standard and be activated when needed rather then let any crap through unrestricted.
its not suppose to store music or memes or other mediums of exchange(transactions within transactions)
there WERE rules to reject non bitcoin related stuff. but those rules got relaxed/softened. anyone that adores soft/lacking of rules does not understand what code is or does or why blockchains were invented to solve a certain purpose.
|
|
|
guy lets clarify something because i see alot of people over use "ordinals" and then say one thing when they mean another
so instead: ordinals v1 = first-sat scam in of itself alone ordinals v2 = meme junk scam spam ordinals v3 = brc20 junk scam spam
that way idiots can tell each other which version of ordinals they love and idolise and are still inducted in the delusion of thinking they are useful/needed. thus helps us teach them why they are being duped more precisely, and why they are junk more precisely
i see some idiots think someone is talking about the first-sat scam when others are talking about the memes. and then some are talking about the new brc20 when some other are talking about one of the other versions
|
|
|
much like even now underlying protocol measures fee in sats per kb meaning a 1sat per kb means most tx can be 1 sat. but its the user interface, politics and other spam attack vectors and silly meme bloating that pushes people to be spending $2 a fee instead of low cent amounts
bitcoin seems to be under some type of brc-20 token spam attack lately and i think monkeys are behind it. the entire purpose of the brc-20 thing is to make more monkeys in different types of places. and do it cheap. like for less than $1. https://ordinals.com/inscription/91be8aa1ea0035914fdc5d30707429238769a480f3e69b68e4314c0bd044c1c1i0those are not monkey tokens months ago i said the idiots dont even know what to use the dead weight area for but some point someone would use it to inject a coin within bitcoins blockchain with transactions within transaction which can ruin the economics of bitcoin.. well they tried. but again failed. they are "tokens" of caseys new scam. a (pretend) brc token PRETENDING to generate 10000 brc tokens units, which again does not move within its braces or offers a in out within its braces. he again has missed the entire point of things like proof or ownership and proof of transfer these braced text things stay in the input of their creation. they are not attached to any output. thus wont move with any output atleast now he is just wasting 56bytes instead of 4million bytes
|
|
|
Name a Bitcoin version when the code was updated to "kick out spam". Until version 0.3.21, client required to pay at least 0.01 BTC as fee (as standardness is concerned, of course), to avoid flooding the network with low-value transactions. bitcoin always had sat precision. but the GUI only allowed transaction values of 0.01+ up until that point. there was no "rule" of fee amount until this point it was just GUI acceptance. it was after this point where the GUI would display smaller amounts to resemble the underlying protocol. which meant they then decided to have a fee range stay at 0.01 for that era(political/human decision not protocol). and every few years as deflation occurred lower that by a decimal and yes fees back then when 1btc was 30 cents, meant fees were $0.003 yep a third of a cent and from 2011-2016 they wanted to keep fee's below 20 cents by reducing the decimal fee range acceptable(up until about 2015 when the scaling debates started due to rising fees) yep there was no "free market" fee structure from 2009-2015 so that goes against doomads other argument that bitcoin always relied on a "free market"of fees to control things. because the reality was that the fee market was controlled and adjusted to meet demands/requirements via dev politic decisions much like even now underlying protocol measures fee in sats per kb meaning a 1sat per kb means most tx can be 1 sat. but its the user interface, politics and other spam attack vectors and silly meme bloating that pushes people to be spending $2 a fee instead of low cent amounts
|
|
|
What has kicking the spam out of Bitcoin to do with your freedoms?
Name a Bitcoin version when the code was updated to "kick out spam". I'm not convinced that's ever happened. Why did we collectively not deem it necessary to change the code on any of the prior occasions people have spammed the chain out of greed or malice and yet suddenly it's imperative that we do so now? Where are you drawing the distinction? Leave Bitcoin for bitcoin.
Tell that to satoshi when they embedded some text in the genesis block. That wasn't a transaction. Should we kick that out too? It's not a black and white issue. Again, there's a line to be drawn between 'fair use' and 'abuse'. "dust" - rejected transactions of other altcoins broadcast on bitcoin network - rejected double spends - rejected complete random data not in a tx format - rejected opcodes requiring valid signatures where random data was not a signature related to requirement -rejected [etc] [etc] but then they started adding in HUNDREDS of opcodes(op_successxxx) IN RECENT YEARS with no set requirement and activated by default rather than activating when requirements are set for a code and consensus is reached to show acceptance of using such.. meaning people due to the softening of consensus, can use those opcodes to add junk unrelated to witness proofs/signatures/scripts. because those new opcodes which ordinal meme spam is abusing is using opcodes that have no requirement of structure/utility/function that proves a payment and if you want to now rebut about op_return acceptance you need to realise that they actually dont like op_return abuse and dont want it sitting in utxo and chainstates https://github.com/bitcoin/bitcoin/blob/280a7777d3a368101d667a80ebc536e95abb2f8c/src/script/script.h#L539-L547
|
|
|
using a mixer is not illegal. but for those shouting "privacy" forget it. you are highlighted by using a mixer finance/currency has never been private. currency/finance legislation has existed far far before bitcoin existed
bitcoin originally 2009-2013 was not treated as currency thus escaped such legislation, and was treated as private property. but those lobbying for currency recognition 'coz mainstream' caused finance/currency legislation to apply
it does not hide you. it reveals you even if your funding was not criminal sourced meaning no fear of prison. the privacy aspect is that your flagged and your thresholds determine how much your watched by businesses sharing data. and if highly using mixing to a suspect triggering amount to require a investigation to check if its criminal funded sources or not gets deeper
mixers do not make you invisible/ignored. mixers get you seen as something to take notice of by businesses and thus if hitting triggers possible governments
your noticeability/highlighted factor by using a mixer is higher just by using a mixer compared to bitcoiners that do not use mixers
|
|
|
In agreement with others in this thread, I don't think this has anything to do with Russia. Price has been in an uptrend since the start of the year and doubled in price. As soon as there was rejection from around $30K price corrected to $27K which is where bears failed to push prices lower. Then unsurprisingly price re-tested $30K level because ultimately price remains in an uptrend so the default direction is upwards.
There had already been 4/5 days of consolidation above $27K in order to confirm it as reasonable support, so the rebound back towards the recent highs is far from surprising in this sense. But as per usual people feel the need to attribute certains event to Bitcoin's price movement, as opposed to the reality that prices weren't moving below $27K quick enough, so investors/traders felt comfortable buying at higher prices.
in 2022 most futures market whales were able to perform many 1week-1month long shorts due to a stagnant hashrate competition and used other stashes to pressure the spot markets to stay in ranges to win their future contract targets however in 2023 they are only managing 2-5 day contracts where the natural flow of spot markets push those whales stashes to extremes that it breaks the hashrate competition and energy prices helped push the markets. but we all know the energy markets of the world are not due to russia. but due to greed of domestic energy companies pretending their profiteering price rises are russian caused in 2022 bottomline value of efficient mining was ~$15k now if the 350exa hashrate persists $25k will be 2023 bottom as of q2
|
|
|
you are still ignoring the math and economics of bitcoin
ill make it simple you dont need to change any algo for a side chain of less yielding transactions
people will only want to pay under 1% in fee's and so if bitcoin is a $2 fee network meaning tx's of over $200 value moved would seem fair.. a side network for smaller tx yield moved will have a $0.01 tx fee average
the network algo as it is now, will set the market for mining profitability where if there are only 2000tx a block and it takes 1 minute to confirm. then thats $20 a block meaning $1.2k an hour mining cost. meaning ~20x less hashrate meaning 20x less difficulty
if you try enforcing a new algo to "fix"/set difficulty then you will mess with the natural economics of bitcoin and markets and hashrate
|
|
|
|