Topic: Mempool full? Long transaction times + fees x10! - page 2. (Read 1219 times)

its an old style multisig address thats how

m-0fd46773b2543ccb2ae663ff13fdfb71 translates to 4E6wXFuMixFc8LU8n5eUUG1FPY71BHZRfy
or splits to:
12niGJ1B66V668fTmgNF1gLhvH94VfabW1
18MXco4a3y8eLFcpsqV6ASpqjUxeVVEGg1
1HbJtt8hm7TGd2DhHvxuw4BRdZsd2iuxYp

you just then need to sign by using the keys (EG a 1-of-3 using the key of 1hbJtt8hm address)

and yes all the 173 multisigs have the 1hbJtt8hm in them so its easy to sign a multisig

and if you take the tx back by one taint. you will see the creator funded those multisigs using the 1hbJtt8hm address using normal legacy spend of that address so he has control of the key for the 1hbJtt8hm address to then use as a signer for the multisigs that have the address as part of the combined multisig

Oh yeah, you're right, wonder how he did that. He must have swept all of them somehow... don't understand how since its not a real bitcoin address.



No, just like Ordinals, the "inscription" only happens one time. They use Counterparty, which is a protocol for Bitcoin token transfer. Unlike Ordinals, sats aren't moved around during token transfer (or other processes: issuance, dividend, supply creation, supply locking, destructions, etc)... its all just encoded data in non-standard transactions.

https://blockchair.com/bitcoin/address/m-0fd46773b2543ccb2ae663ff13fdfb71

Balance
0BTC
0USD
Total received
0.000078BTC
0.02USD
Total spent
0.000078BTC
0.09USD


not for this one  

and its unprunable and sits in the utxo set forever?  hopefully that doesn't contribute to utxo set bloat. but i guess we'll see.

since stamps is more proof of ownership than ordinals, i wonder how they get "transferred". maybe a new copy of the monkey gets made and stuck in someone else's address? now there's 2 monkeys taking up space a new monkey on every new sale. blockchain bloat might be an issue if that was the case but it seems these stamps nfts are very small images.

Actually they are unspendable, they just sit there for eternity. And it was actually less than 2 cents at the time. Nowadays it would be a fairly expensive operation.

The saving grace about Stamps is the stampers are forced to pay more of a "fair" fee as it does not rely on taking advantage of the witness data discount.

so they sent two cents to like 173 different addresses and then later on they transferred those same two cents back to one of the original funding addresses. imagine that. sending $0.02 worth of bitcoin 173 times not once but twice...

LOL, that's not what they said at all.

This has been doable since 2015 via Counterparty; the whole "on-chain data" craze only became a thing recently. This is a Counterparty Broadcast of a tiny image file, about 9.5kb, from Aug 2015:

https://xchain.io/tx/299585

This is what it looks like when you decode it (also magnified):



It uses 172 outputs. Nobody cared about it at the time, but the person behind it is now widely considered one of the pioneers of NFTs as we know them. Also because he made OLGA, the first 1/1 Counterparty token (thus a non-fungible token, or NFT).

https://xchain.io/asset/OLGA

i wouldn't worry about "stamps". no one is going to want to pay the huge fees to store any reasonable image on that crap. only thing you'll see there is pixellated junk. but yeah they want their monkeys being stored in the utxo set. how nice.  

i guess P2SH wasn't so great after all though...

funny how all this is supposed to be decentralized yet these bitcoin nft projects rely on .io websites or .com websites to showcase all the monkeys and if those websites went away, people would probably stop using them

Metagood has also joined the spam attack against Bitcoin. "NFTs of jewelry eggs designed by Bugatti and Asprey worth 20k USD"...

This is ridiculous! I can see incoming transactions with 15sat/byte, 21sat/byte even 25sat/byte fees! My last transaction between my wallets took 2-3 days and I had to bump fee 4 times! This new Bitcoin Stamps spam seems to have amplified the Ordinals spam. I wonder how soon core devs will start doing something to eliminate this spam. 

"Bitcoin stamps" joins the spam fest...

Quoting the Trust Machines spammer:

https://twitter.com/trustmachinesco/status/1643354099507683328


So there you have it. Not only they openly declare their intention to spam, they also challenge the developers...

I think it is about time we start a list of shame (spammers) so at least people know who is sabotaging Bitcoin.

This has nothing to do with scalability at all. In fact none of the major fee spikes in bitcoin history had anything to do with scalability. They have always happened because of spam attacks. For example the biggest and longest period in which fees went up and stayed up were in 2017 and it was mainly because of the largest spam attack against bitcoin network in its entire history.
Today we are seeing another form of spam attack hence the increased fees.

This isnt something new anymore and this could definitely happen on Bitcoin transaction where the entire network is really that clogged up.Transaction prioritized are to those who do set out higher fees
which miners would really be having no doubt on processing it first than into those who had set out 1sat/byte which is understandable. This is why if you dont really like on paying up huge fees
then it would really be just right that you should wait but if you are in a hurry on pushing up such transaction then you would be needing to pay up more fees.
Lets just accept this scalability issue of Bitcoin yet this had been the main issue ever since.

can you give an example link to an inscription like this? just curious what is going on  

not gonna lie though apparently someone uploaded a video game as an ordinal some type of first person shooter. wonder how much space that took up. 

Yes, this is what i want to see.

---

There is a new spammer, something BRC-20 which seems to be a type of smart contracts. So as we warned in February, things are getting worse. Like they said: "Anything hex will be uploaded, Ordinals paved the way". That's a honest spammer, that never cared about Bitcoin.

Time is ticking, spam is increasing...

i'm always willing to listen to well reasoned posts like yours have been. i don't know everything (clearly) but i do appreciate when someone like you takes their time to input what they can on a topic. it always helps.  

i can't say i disagree. we'll have to trust that they know what the right thing to do is.

Well there's already 637,000+ of them 

But assuredly a cap would retain some value for some of them.

Most of the rest will trend toward zero, cap or not.

And again, despite what anybody wants to believe, I'm not invested in any of it. Never inscribed, never bought, never sold, don't care. Its just been highly entertaining to watch.

In fact, placing new limitations now would be great for everyone: normies would enjoy fast low-fee transactions and NFT freaks would finally get rich as the price of already minted ordinals would skyrocket. It's a win-win situation. 

We disagree a lot of the time and that's fine, but one thing I like about you larry is you are willing to at least be reasonable. TBH I really don't know what they think about inscriptions, just seen a couple impartial murmurings from them about it on the mail list so far. But I do know our shadowy group of supercoders has been relatively successful in the past at shepherding Bitcoin development down a well-constructed path.

It will be really interesting to see what changes they propose/enact (if any) to combat inscription "spam."

This may surprise everybody but if they decide to somehow place new limitations on it, it wouldn't upset me.

if you say so but so far i haven't heard a peep out of them at least here on this forum so they must be doing this under heavy secrecy... i just thought they didn't care about the issue at all.

windfury. grow up.
YOU know that since 2018 it was YOU and doomad that went crying to gmax when your sales pitches got  destroyed, which you lot didnt like.. which got the negative trust rating against me because you didnt like what i had to say.. and for 5 years you have been recruiting idiots into your echo chamber to keep stiring the social drama distractions.

so you and your forum daddy are the idiots that are now using your own actions to pretend im wrong because of YOU group saying im wrong previously.
you can only quote "franky is wrong because" where you then link your fanclub of echos just saying "franky is wrong because", but has never shown actual valid data, code, logic, math,stats that actually prove any point on your side


yet what i say can be backed up by code/blockdata ..
i find it foolish how after so many years you do not even bother to try to read code or blockdata to form opinions and instead you prefer to quote humans as your source where those you source are snake oil salesmen trying to push people off the network and weaken the network and make the network expensive and annoying to use

all of your desires and beleifs are only backed up by whatever doomad and his group told you and you are the idiot that follows him like a daddy where you lack the research of actual code/blockdata.

try to listen less to an idiot that makes you look like an idiot and finally take some time to do some research away from being a blind sheep that cries when you hear something you dont like, that makes your group look stupid

.....
fangirls of core is different to the corporate employer of devs and a dev that is no longer a maintainer of core.. so not sure why you are mentioning luke jr and adam back. as they are not hands on nor important anymore

i know you are a fan of them. but they are not involved in the day-to-day. heck luke Jr is making patches away from core github because he knows the actual maintainers will reject his proposals to include the patch internally within core


the current maintainers of core. is the group that are doing nothing to stop this crap... and rejecting any outside fixes being added to core.. and moderating out any discussion that may lead to diverting from their roadmap plans
and its their fans like your forum-daddy that are excited by it, your forum-daddy loves ordinals and loves moderating out any discussion that goes against the roadmap of central group, because it helps his schemes of making people hate using bitcoin so he can promote that people should use other networks.. and you know this