old Bitcoin addresses as 'NFT' on the Bitcoin blockchain - 'signature chain'

[casinotester0001]

Seems very interesting! Would be great to be part of this experiment
Here is my empty address:

1CLoAKmgiMrE3nnwvqZNydcsVDVCoLTKzd

same 
to better understand how it works - my bitcoin address: 1FgEoVLZFGytudv3qHnY79cCTiQn7aP43b

your 'signature chain':

txid: 7590b3c36ca4c02e2db38eadaf6e21869d2fe611382d1fa2ecdf9b46c68e0a1b

'signature chain' ID: 1nonce1BTpmENWB8Yf9sTq9wBUvVgFz1G

signature:

-----BEGIN BITCOIN SIGNED MESSAGE-----
1FgEoVLZFGytudv3qHnY79cCTiQn7aP43b
-----BEGIN SIGNATURE-----
1nonce1BTpmENWB8Yf9sTq9wBUvVgFz1G
IBp09wN/D6tzuCi/Wb38ywYpMN1NVr1kCoRy+S2D73nKN3vYX8iZpFxEXwkUKWwwOo3TKqAzZzO9wHbHDelBcVU=
-----END BITCOIN SIGNED MESSAGE-----

Now you are the owner of that 'signature chain' and can transfer it to someone else with the private key of 1FgEoVLZFGytudv3qHnY79cCTiQn7aP43b.

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[casinotester0001]

Satoshi discussed this 'signature chain' ...

This is a very interesting topic.  If a solution was found, a much better, easier, more convenient implementation of Bitcoin would be possible.

Originally, a coin can be just a chain of signatures.  With a timestamp service, the old ones could be dropped eventually before there's too much backtrace fan-out, or coins could be kept individually or in denominations.  It's the need to check for the absence of double-spends that requires global knowledge of all transactions.

The challenge is, how do you prove that no other spends exist?  It seems a node must know about all transactions to be able to verify that.  If it only knows the hash of the in/outpoints, it can't check the signatures to see if an outpoint has been spent before.  Do you have any ideas on this?

It's hard to think of how to apply zero-knowledge-proofs in this case.

We're trying to prove the absence of something, which seems to require knowing about all and checking that the something isn't included.

... and the result was ...

...
I pursued this line of reasoning in the thread, but it turns out it is a FAIL. It turns out that Satoshi was correct. ...

Satoshi says "The challenge is, how do you prove that no other spends exist?" That means it could work if they found a way to prove it. It could only work with a blockchain. They didn't have a blockchain, they had to create it through running Bitcoin.

But we can use this blockchain for our 'signature transactions' and solve Satoshi's problem.

That's the reason why 'signature chain' works.

[yhiaali3]

But we can use this blockchain for our 'signature transactions' and solve Satoshi's problem.

That's the reason why 'signature chain' works.

Do you mean that the "signature chain" can prevent double spending?
Can a "signature chain" prevent a 51% attack? I doubt it?

To create a "signature chain" you must start with a transaction that carries the "first signature" on the network and this transaction needs to be confirmed by the miners, in the event that someone had 51% of the network hash, what prevents him from repeating this transaction and performing the "double spending", Since he will be the owner of the "first signature" and can repeat the signature?

Isn't it possible for this person to create the same signature on the same transaction before this is discovered?

[casinotester0001]

Do you mean that the "signature chain" can prevent double spending?
Can a "signature chain" prevent a 51% attack? I doubt it?

'Signature chain' without blockchain can't. Satoshi and the others (above post) found that out.

But in our 'signature chain' project we have the 'transfer signatures' plus 'transfer transactions' that are timestamped on the blockchain. So we can know which signature was first, so it works. Satoshi didn't have a blockchain to do this, he had to create one what we use.

[mynonce]

Bitcoin NFTs Explode in Popularity as BitMEX Research Shows 13,000 Ordinals
Interest has skyrocketed following the first Ordinals transaction on Dec. 14
https://www.coindesk.com/tech/2023/02/08/bitcoin-nfts-explode-in-popularity-as-bitmex-research-shows-13000-ordinals/

This is very interesting and I'm following the development. People are looking for new ways of NFT techniques.

OP, hope that your Bitcoin NFT project will be discovered too.
Please continue it. I understood it now and it is an amazing project. Maybe you have to do more PR work  

And we want to test a new type of 'NFT' here with that project:

--- old Bitcoin addresses as 'NFT' on the Bitcoin blockchain - a signature chain ---

[nutildah]

If you are interested in commercializing these for sale, I recommend looking into Emblem Vault. Its a way to lock assets in a Bitcoin wallet and then turn it into an Ethereum token (the thinking is it makes it easier to sell on major NFT marketplaces). You can also attach a signature chain as text which can only be unencrypted by the token's new owner.

https://emblem-vault.medium.com/how-to-sell-counterparty-bitcoin-nfts-on-opensea-684871c3ae40

https://emblem.finance/

https://opensea.io/collection/emblem-vault

You could also use Counterparty to effectively achieve the same thing if you want to remain 100% on Bitcoin.

[digaran]

Is this thread your blockchain? Where should I timestamp  my signature chain? This looks more like an altcoin than NFT.

[casinotester0001]

This looks more like an altcoin than NFT.

It is an NFT because:

A non-fungible token (NFT) is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership.[1] The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded. NFTs can be created by anybody, and require few or no coding skills to create.[2] NFTs typically contain references to digital files such as photos, videos, and audio. (source: Wikipedia - Non-fungible token)

In our case the NFT refers to the previous Bitcoin address.

It is not an altcoin because NFTs are uniquely identifiable assets, they differ from cryptocoins, which are fungible.

But you should consider that 'signature chain' is a new type of NFT. Read the second post to understand how it works.

[digaran]

You missed the first part of my post, how do I send the signed message to another address? Where can I find a buyer? Is this just the concept or can we do it right now? What wallet should we use, where to announce our NFT etc.

[casinotester0001]

You missed the first part of my post, how do I send the signed message to another address? Where can I find a buyer? Is this just the concept or can we do it right now? What wallet should we use, where to announce our NFT etc.

Everything testing manually at the moment and it is working. There is no marketplace or explorer so this thread is the only place where one can inform about 'signature chains.' But user nutildah recommends to look at emblem-vault on OpenSea. I was already checking it because of ordinal 'NFTs' on the Bitcoin blockchain and it seems to be the perfect opportunity to exchange 'signature chains.'

If you are interested in commercializing these for sale, I recommend looking into Emblem Vault. Its a way to lock assets in a Bitcoin wallet and then turn it into an Ethereum token (the thinking is it makes it easier to sell on major NFT marketplaces). You can also attach a signature chain as text which can only be unencrypted by the token's new owner.

https://emblem-vault.medium.com/how-to-sell-counterparty-bitcoin-nfts-on-opensea-684871c3ae40

https://emblem.finance/

https://opensea.io/collection/emblem-vault

I will test emblem-vault a bit and post the results here.

[BBGC NFT]

https://opensea.io/collection/emblem-vault

Yes, check the Bitcoin NFTs on the Ethereum network/blockchain, they are skyrocketing. On OpenSea the Bitcoin Punks have high volume trades. I would recommend to list there items of your project. Bitcoin NFTs are coming.

[casinotester0001]

~

Now some items on OpenSea: https://opensea.io/collection/signature-chain

The items include the private key of the Bitcoin address for the given 'signature chain' as unlockable content that can only be unlocked and revealed by the new owner of this item.

We are very early. 

[seoincorporation]

~

Now some items on OpenSea: https://opensea.io/collection/signature-chain

The items include the private key of the Bitcoin address for the given 'signature chain' as unlockable content that can only be unlocked and revealed by the new owner of this item.

We are very early. 

I think you should warn the users about the risk behind getting this address and private keys, since there are more people who have a copy of those private keys, then the users who buy this will risk their money if they decide to send coins to those addresses.

If the goal is only to use those addresses to sign messages, then there is not a big deal, but people must know how these addresses are a high risk for the funds.

[casinotester0001]

I think you should warn the users about the risk behind getting this address and private keys, since there are more people who have a copy of those private keys, then the users who buy this will risk their money if they decide to send coins to those addresses.

If the goal is only to use those addresses to sign messages, then there is not a big deal, but people must know how these addresses are a high risk for the funds.

These addresses were unused which received a specific 'signature chain', they contain some sats to transfer the 'signature chain' to the buyers own address. The items exist only 1/1, so nobody else can buy it after purchase. Only one buyer will have the private keys. I have the private keys too, but it is the same situation like coin-mixer. The mixer has the private keys of the new addresses too.

Yes, I will edit the 1st post that the new owners shouldn't use these addresses for their own transactions.

[casinotester0001]

This signature has been inscribed on the Bitcoin blockchain:

-----BEGIN BITCOIN SIGNED MESSAGE-----
ord.io
-----BEGIN SIGNATURE-----
1NChfewU45oy7Dgn51HwkBFSixaTnyakfj
G3wnFA3EOh4GS8bslqytPERrlk55o5IyaiZqP4IDGPziUYpfeR/0EbnkOUfkOlMkEOexbOEz5bnLr9HRyVbET7w=
-----END BITCOIN SIGNED MESSAGE-----

https://twitter.com/LeonidasNFT/status/1666900463856279574

[nutildah]

This signature has been inscribed on the Bitcoin blockchain:

-----BEGIN BITCOIN SIGNED MESSAGE-----
ord.io
-----BEGIN SIGNATURE-----
1NChfewU45oy7Dgn51HwkBFSixaTnyakfj
G3wnFA3EOh4GS8bslqytPERrlk55o5IyaiZqP4IDGPziUYpfeR/0EbnkOUfkOlMkEOexbOEz5bnLr9HRyVbET7w=
-----END BITCOIN SIGNED MESSAGE-----

https://twitter.com/LeonidasNFT/status/1666900463856279574

1. Format is incorrect. The address isn't part of the signature.

2. Anybody can sign a message from this address:

The key: 5KGLRScL6BqRkWnB8kTtoJmj21GT2W4KHpHJ2AA6vewuqM3tFVM
Tte address: 1NChfewU45oy7Dgn51HwkBFSixaTnyakfj

3. Never trust Leonidas. He'll say anything for the sake of engagement and has absolutely no principles.

[casinotester0001]

2. Anybody can sign a message from this address:

They're saying that the first Inscription on the blockchain is the valuable one. All following Inscriptions/Signatures have less or no value. And the participants accept this. Eg. there are Bitcoin Punks and the same Punks as second Inscription (i2 Punks).

The keys were leaked after that article https://news.bitcoin.com/an-unknown-individual-signed-a-message-associated-with-btc-block-1018-reward-was-minted-16-days-after-satoshi-launched-bitcoin/

~

This thread "old Bitcoin addresses as 'NFT' on the Bitcoin blockchain" started 2 weeks before Casey Rodarmor inscribed his first picture on the Bitcoin blockchain. We should ask him if he knows this thread.