Bitcoin Ordinals on the edge of getting canceled - page 2.

pixie85

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Quote from: Renampun on May 10, 2023, 12:36:30 PM

Quote from: Jet Cash on May 10, 2023, 03:16:43 AM

I vote that we should stop the ordinals. Id even vote to move their rotten, useless transactions onto a side chain if that was possible, but I don't see how that could be done.

the ordinal should be stopped immediately, there is no reason to support its development, it will only destroy the bitcoin ecosystem, inserting files every sats is the idea of people who fail to find buyers in their trash NFT.

Bullshit, it's not going to destroy anything.
There's a number of scared people who are now spreading FUD about how bitcoin network is proven to be weak and damaged and ordinals are a proof of it. These people are playing into the hands of CSW who was saying that for years and trying to shove SV down our throats. Are you a part of his team?

Devs enabled taproot and are now backtracking, thinking if it maybe was a bad idea and should be censored. So what is it? Do they know what the changes they apply to bitcoin actually do or not?

rdbase

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Quote from: Jet Cash on May 10, 2023, 03:16:43 AM

I vote that we should stop the ordinals. Id even vote to move their rotten, useless transactions onto a side chain if that was possible, but I don't see how that could be done.

Move it via a soft fork as someone suggested on the multiple discussions about this since it's inception.
Something such as a pepe or a dogechain.
Saylor on a podcast earlier today didn't help much in keeping the blockchain ordinal-free either.

South Park

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Quote from: SamReomo on May 10, 2023, 02:25:08 AM

That would be a great step taken by developers if they agree to cancel the ordinals because there isn't a need for such protocol in Bitcoin blockchain and it's just an extra burden on the blockchain. The useless tokens and NFT's have no place in the Bitcoin blockchain and developers should definitely take some actions to prevent those useless protocols.

snip

I agree, I mean if people want to keep investing on NFTs that is not my problem and they can do so if they want, however bitcoin should be a robust project which does a small number of things but that does them extremely well, let other coins to become the center of the universe for those which want to trade and create those tokens, bitcoin does not need them and without them the fees can once again become reasonable, and transactions can become something you can do whenever you need them and not something you need to plan weeks in advance.

serveria.com

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Quote from: Outhue on May 10, 2023, 01:40:38 AM

If we are asked by the Bitcoin devs to vote and choose between allowing ordinals to keep doing their thing on Bitcoin or they should cancel ordinals what will you be voting for? Grin

Today I read a news on Twitter and it looks like the Bitcoin devs want to cancel ordinals

I am not sure if this have been confirmed yet or they are still trying to make a choice but I will like to hear your thoughts, a good move or a bad one?

Also is it advisable to start receiving Bitcoin payment straight to your exchange? What disadvantages comes with doing so?

That would be cool, but unfortunately the Luke guy is not a core dev. Let's just hope the devs will listen to him and finally do something about this ordinals plague.

CryptSafe

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Quote from: Outhue on May 10, 2023, 01:40:38 AM

If we are asked by the Bitcoin devs to vote and choose between allowing ordinals to keep doing their thing on Bitcoin or they should cancel ordinals what will you be voting for? Grin

What a question! I believe you to knows what to do in this case. You do not need anybody to tell you what to do immediately. Do you know what has happened within this few days this brc20 bot launched on bitcoin chain network?
These kind of situations sometimes do not even need public opinion on to voting or not. What is required is just immediate actions to stop whatever that has been unleashed to cause that backlogs.

Quote from: Outhue on May 10, 2023, 01:40:38 AM

Today I read a news on Twitter and it looks like the Bitcoin devs want to cancel ordinals

Canceling the ordinals protocol or whatever they call themselves is not a bad idea. It is what I called doing the needful to save the whole. If they decide to do take that decision so be it as it is for the benefit of all.
Please do well to reference or cite your source since you said you read from a news.

Quote from: Outhue on May 10, 2023, 01:40:38 AM

Also is it advisable to start receiving Bitcoin payment straight to your exchange? What disadvantages comes with doing so?

I do not really think there is any disadvantage attached though. It's only the network fee to pay if you can. Exchange are open to receiving payment but some you can not make withdrawal at the moment. It is only just the backlog of payments onchain currently. My friend informed me that he received a payment that was made since four days ago as a result of the backlog and transaction fees. The delay is damned obvious.

NotATether

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OP, you have to lock this topic, because it's factually incorrect and it's going to give people false hope about the mempool situation being resolved quickly.

I just did an interview with DL News they asked me for, so it will be beneficial to get the facts out here for all to see.

Code:

------- Original Message -------
On Wednesday, May 10th, 2023 at 6:52 PM, Ali Sherief wrote:

> Hi , I hope you still have time. I had Do Not Disturb switched on before I got here.
>
>
> > What are Bitcoin devs looking to do about the fee spike caused by Ordinals clogging up the mempool?
>
> At the moment, nothing has been agreed upon yet. In situations like these where there is something significant at stake, there is usually a lot of dialogue about possible solutions to take. However, before enacting on any particular decision, a majority consensus among the participants isn't required, otherwise no action is taken.
>
>
> > Do you support Luke Dashjr’s calls to treat these transactions like spam and enact spam filtration as a bug fix?
>
> I would like to make it clear that this is not the opinion held collectively by the developers.
>
> I also think that's a bit extreme, when you consider that there's live money on top of these transactions, even if there is a tendency to consider them as spam.
>
> > What sort of actions do you think are likely to be taken? Will they be bug fixes or changes to the core client in the next release?
>
> I'm not expecting changes of this sort to be implemented until a consensus is reached like I told you. At the moment there are no Github issues or pull requests of this sort, and I'm not expecting any to appear in the immediate future.
>
>
> > What happens if miners are not on board with these changes? Are we going to see another Bitcoin civil war?
>
> I actually think it is not necessary for miners to worry about this because in a way, BRC-20 token transactions are a lot similar to the Ethereum NFT craze in its heyday. I know that miners are profiting a lot from these BRC-20 transactions but it's only going to be temporary, because none of these have any use cases so it's only a matter of time before BRC-20 loses most of its hype just like Ethereum NFTs.
>
> Regarding a civil war - it's actually already begun, but it does not involve developers or miners. It is restricted between Bitcoin users who support ordinals and the those who don't (as well as altcoin users who for some reason want to take sides), and additionally is also restricted to social media such as Twitter.
>
> This is not particularly new, as this has also happened in 2017. But because miners were also involved, it was more serious.
>
> Unfortunately that status quo is going to continue at least until the situation with the mempool is restored to normal.
>
>
> > Any action taken against ordinals could be seen as censorship. What are your views on this?
>
> You are absolutely correct and that is why we have to be very careful when dealing with this issue. We already see various types of data transactions, for example OP_RETURN, and attempting to block them entirely after they have already been introduced will cast a negative image on Bitcoin, which we would like to avoid obviously.
>
>
> > What’s the long-term solution for Bitcoin’s security budget beyond block subsidies?
>
> Profits for the miners have to come from the layer 1 fees as it is not possible to adjust ASICs to work with layer 2. Naturally, transaction fees will rise, probably to the level we are at now, but by then I hope there's is better adoption of the Lightning Network.
>
> The key problem with LN is the lack of software using it. AFAIK there are only two desktop wallets (Electrum and Zap) that support Lightning. Mobile wallet support is good though.
>
> Almost nothing supports the Taro protocol made by Lightning Labs though, but that has to change quickly because it is superior to BRC/ORC-20. BRC-20 author also recommends using Taro as an alternative, in the BRC-20 docs.
>
> Best Regards,
> Ali
>
>
> Sent from Proton Mail for iOS
>
>
> On Wed, May 10, 2023 at 4:57 PM, wrote:
>
> > Hello Ali,
> >
> > I hope you are well.
> >
> > My name is and I’m a reporter at DL News. I’m writing a story about ordinal inscriptions on Bitcoin and I’d like to get your perspective on the matter.
> >
> > What are Bitcoin devs looking to do about the fee spike caused by Ordinals clogging up the mempool?
> >
> > Do you support Luke Dashjr’s calls to treat these transactions like spam and enact spam filtration as a bug fix?
> >
> > What sort of actions do you think are likely to be taken? Will they be bug fixes or changes to the core client in the next release?
> >
> > What happens if miners are not on board with these changes? Are we going to see another Bitcoin civil war?
> >
> > Any action taken against ordinals could be seen as censorship. What are your views on this?
> >
> > What’s the long-term solution for Bitcoin’s security budget beyond block subsidies?
> >
> > I look forward to hearing back from you.
> >
> > I’ll be filing my article by 5:30 PM UTC (12:30 ET). I’d be grateful if you can get back to me by then.
> >
> > Kind regards,
> > .

What I can say is on the edge of happening is that I have to step up my Lightning game. And probably a lot of other devs as well.

mindrust

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Ordinals should stop. It was a big mistake and now the devs should do whatever necessary. We already have a platform for this kind of stuff and it is called ETH/BNB. BTC should do what it does best and that is being a currency and a store of value. I understand that the devs are working hard to improve bitcoin but this clearly didn't work. There is nothing to be ashamed of. We all make mistakes. Now it is time to fix this.

avikz

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This BRC-20 madness needs to stop asap. This is making bitcoin almost unusable and thousands of transactions are affected. The current fees is way too high to handle and it makes no sense to make bitcoin transactions now. I honestly wanted to buy an e-commerce gift card through Bitrefil because I have some upcoming shopping list. I had to pay through ETH just because the bitcoin fees was too high.

I will be more than happy to vote if this will stop such nonsense with immediate effect.

Renampun

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Quote from: Jet Cash on May 10, 2023, 03:16:43 AM

I vote that we should stop the ordinals. Id even vote to move their rotten, useless transactions onto a side chain if that was possible, but I don't see how that could be done.

the ordinal should be stopped immediately, there is no reason to support its development, it will only destroy the bitcoin ecosystem, inserting files every sats is the idea of people who fail to find buyers in their trash NFT.

Ben Barubal

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Quote from: Outhue on May 10, 2023, 01:40:38 AM

If we are asked by the Bitcoin devs to vote and choose between allowing ordinals to keep doing their thing on Bitcoin or they should cancel ordinals what will you be voting for? Grin

Today I read a news on Twitter and it looks like the Bitcoin devs want to cancel ordinals

I am not sure if this have been confirmed yet or they are still trying to make a choice but I will like to hear your thoughts, a good move or a bad one?

Also is it advisable to start receiving Bitcoin payment straight to your exchange? What disadvantages comes with doing so?

The Bitcoin developers should really act or else if they don't do something, many bitcoin holders might suddenly full out their holdings. Then the Brc20 or ordinals are actually not applicable for Bitcoin.

they appear to be confusing to the concept of bitcoin, Bitcoin is not designed for that kind of thing, in my opinion even what was done by brc20 or ORC20 they are more applicable in ERC20. Then, that's why the bitcoin developers actually put a stop to that. That's good they'll do that in my opinion.

Alpha Marine

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Quote from: Outhue on May 10, 2023, 01:40:38 AM

Also is it advisable to start receiving Bitcoin payment straight to your exchange? What disadvantages comes with doing so?

My personal opinion:
I don't think receiving payment straight to your exchange is a wise decision. Exchanges are a place to exchange bitcoin, not a place to store bitcoin, whether it's a centralized or decentralized exchange. When you receive payment with fiat currency, it goes straight to your bank account, it should be that way with BTC.
See your wallet as your own personal account that you own and control, it's also your responsibility to keep it safe, so all payments should go to your wallet first, then if you want to trade/exchange you can move them to the exchange you use.

Artemis3

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He has been a bitcoin dev for ages... Just not one of the main ones.

And yeah, lets kick the spam out.

hd49728

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Quote from: stompix on May 10, 2023, 03:55:08 AM

Quote from: Outhue on May 10, 2023, 01:40:38 AM

Today I read a news on Twitter and it looks like the ~~Bitcoin devs~~ want to cancel ordinals

Not devs! Luke!
Luke is the one that wants to censor everything he doesn't like, and there is actually more, he's the one advocating for years that we should reduce the block size:
https://bitcointalksearch.org/topic/luke-jrs-300kb-blocks-5109169

I did not know Luke Dash Jr. wanted to reduce the capacity of Bitcoin block and its network to handle transactions and meet bigger demand from community.

I only knew about Luke months ago when he announced that he lost his bitcoins by his carelessness. Weird that his Twitter account was suspended Huh

https://twitter.com/lukedashjr/status/1609613748364509184

Before that, I did not know about Luke. After that accident, he was removed as a forum staff.

Aanuoluwatofunmi

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Quote from: Outhue on May 10, 2023, 01:40:38 AM

I am not sure if this have been confirmed yet or they are still trying to make a choice but I will like to hear your thoughts, a good move or a bad one?

Developers were already having serious deliberations on this to either remove it or provide a solution to it, but what seems to be the majority choice is the total elimination becsu they don't want bitcoin to be associated with anything that has to do with NFT first, secondly they are also playing smart to avoid any chances that could prevent the bitcoin network attacked through this, so if we are going by the vote or individual support on this, almost everyone will kick against ordinals.

Quote from: Outhue on May 10, 2023, 01:40:38 AM

Also is it advisable to start receiving Bitcoin payment straight to your exchange? What disadvantages comes with doing so?

Why should you make use of an exchange when you can own a private wallet of your own like electrum multisig bitcoin wallet or get a hardware wallet, exchanges are best for converting your money a d not for holding them in it.

franky1

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Quote from: NotATether on May 10, 2023, 03:46:43 AM

I know it's getting fashionable to assume that is going to happen right now but please read this topic and also understand that dashjr can't just say whatever he wants and it gets implemented. In fact, nothing has been decided upon yet (I was part of the discussion but the news doesn't credit me for starting it and in fact it even clipped out my message).

luke already had some fixes coded months ago but core didnt even want it listed as a bip on bitcoin core github so he had to implement it in his own 'knots' full node. it just goes to show that the main core team of merge/maintainer capability dont want to fix it.
the main team(sponsored devs) of bitcoin core (with maintainer keys) were paid to change bitcoin to allow these opcodes that are now being abused

stompix

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Quote from: Outhue on May 10, 2023, 01:40:38 AM

Today I read a news on Twitter and it looks like the ~~Bitcoin devs~~ want to cancel ordinals

Not devs! Luke!
Luke is the one that wants to censor everything he doesn't like, and there is actually more, he's the one advocating for years that we should reduce the block size:
https://bitcointalksearch.org/topic/luke-jrs-300kb-blocks-5109169

Helena Yu

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Quote from: Outhue on May 10, 2023, 01:40:38 AM

If we are asked by the Bitcoin devs to vote and choose between allowing ordinals to keep doing their thing on Bitcoin or they should cancel ordinals what will you be voting for? Grin

Dude, you should need to create a poll before you post this thread, now how we can vote it? Tongue

Well I think most of users in this forum will vote Yes, but not really sure if this thread is moved to altcoins section, it might change the result because there are a lot bounty hunters there and looking to make a huge amount profit through shitcoins Roll Eyes

Quote from: Jet Cash on May 10, 2023, 03:16:43 AM

useless transactions onto a side chain if that was possible, but I don't see how that could be done.

It's possible, someone had open a thread about it yesterday, the name is ORC-20 Annoyed by Ordinals and BRC-20 tokens? Here come the Orcs!!!

NotATether

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I know it's getting fashionable to assume that is going to happen right now but please read this topic and also understand that dashjr can't just say whatever he wants and it gets implemented. In fact, nothing has been decided upon yet (I was part of the discussion but the news doesn't credit me for starting it and in fact it even clipped out my message).

franky1

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Quote from: Nwada001 on May 10, 2023, 01:52:48 AM

If this can be voted for and immediately implemented, then it's a very welcome development. This is just to fix the bug; it will not affect the BRC-20 token holders since they already have nearly a billion dollars in market capitalization,

BRC is not a real proof of transfer system with proper security to lock value. its a json junk of text
even cypherpunks that spent decades trying to create currency would not design or think basic json data passes the simple monetary policies tests

also the market cap is false measure too. someone creating 21m numbers and scammed 1 person to buy it for a small single unit amount creates a large cap

anyone can make a better altcoin of a blockchain premined 21m real tokens and sell 0.0001 unit for $100 and cause a market cap of $210billion
they can then sell back to the seller and the seller sell back to the buyer(becasue both are same person with 2 accounts) 1000 in a day to make a volume of $10k volume. and then make other accounts to move other units of the same token with no real fiat cost to increase the volume

Merit.s

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This will be the best thing that will happen presently to bitcoin block chain to stop ordinals and I hope that bitcoin developers are serious with this issue of taking this token out of bitcoin block chain. I vote for it.

Quote from: Outhue on May 10, 2023, 01:40:38 AM

Also is it advisable to start receiving Bitcoin payment straight to your exchange? What disadvantages comes with doing so?

As for using exchange to get paid,it is a good idea because when you think of the high fee that you will pay to transfer your coins from your private wallet to an exchange and the time taken. On the other hand,you should also know that these exchanges are centralized and can't be trust with your funds because we have seen so many crashes of some exchanges and even banks,so how are you sure that your bitcoin will be safe with them. Can you still remember that Binance is also passing through this ordinals attack and Binance wants to embrace Lightening Network for them to overcome this congestion in the mempool. It is only a better idea,if you want to withdraw all your weekly pay in your local currency. If you are the type that only accumulates your weekly pay,then it is a very bad idea.

Topic: Bitcoin Ordinals on the edge of getting canceled - page 2. (Read 442 times)