Topic: old Bitcoin addresses as 'NFT' on the Bitcoin blockchain - 'signature chain' - page 3. (Read 1079 times)

Thank you, of course I would like to try it, I will be happy to be the first to try this new NFT.
Actually I have an empty legacy address (starting with 1..) but it's not very old, it was created in 2020.
 try it to see how it works:

yhiaali3, testing 'signature chain' .. it works 

I have address 1MAP7AKiN5Ddce82VE8eFheFfyQ8iffvmV prepared for a 'signature chain'. If you like, post an empty legacy address (starting with 1..) and I would transfer it to you. Then you are one of the first 'signature chain' owners    Of course only if you like.

Actually yes, the signature itself is basically an NFT, anything unique is actually an NFT.
The initial idea was to convert the old Bitcoin addresses into NFT, but the problem is that Private Key is owned by the old owner and the new owner, so to solve this problem (OP) developed the idea to make an NFT from the signature chain.

created a 'signature chain' transfer:

1NCLNyKPGjx2GwdRSPB5xqfy58WtGtgNgo is the starting address (first time used in 2022, it is not an old address, just to show that it works)

The owner/holder of 1NCLNyKPGjx2GwdRSPB5xqfy58WtGtgNgo transfers the 'signature chain' to 1M4wDv1tGEt2yPL6FrkM6o19jxV6mdopnP:

1) signs a message (message is the Bitcoin address of the new owner)


2) transfers Bitcoin from 1NCLNyKPGjx2GwdRSPB5xqfy58WtGtgNgo to 1M4wDv1tGEt2yPL6FrkM6o19jxV6mdopnP (to the new owner)

txid 167af01dd191b0e2d47f7255a9f440789a0ae7cba92a644f69d2b39e1f120eaf
Block 765905
04/Dec/2022 9:25 PM UTC
output: only 1 legacy address = valid

Now 1M4wDv1tGEt2yPL6FrkM6o19jxV6mdopnP is the owner of this 'signature chain' and tranfers it to 1B2a3bau6T5jHRgzWo4pzRj93fkPNaPZHj:

1) signs a message (message is the Bitcoin address of the new owner)


2) transfers Bitcoin from 1M4wDv1tGEt2yPL6FrkM6o19jxV6mdopnP to 1B2a3bau6T5jHRgzWo4pzRj93fkPNaPZHj (to the new owner)

txid 12bbc865f8b5259cd0c40a5da954e488e555f746a59d001f225b94ebde73a8c9
Block 765907
04/Dec/2022 9:55 PM UTC
output: only 1 legacy address = valid

Now 1B2a3bau6T5jHRgzWo4pzRj93fkPNaPZHj is the owner of this 'signature chain'

1NCLNyKPGjx2GwdRSPB5xqfy58WtGtgNgo
1M4wDv1tGEt2yPL6FrkM6o19jxV6mdopnP
1B2a3bau6T5jHRgzWo4pzRj93fkPNaPZHj

and can transfer it.


It works  

Isn't the signature itself basically an NFT? Or can we get super meta with bitcoin signature NFTs on the bitcoin chain?

Yes, right, I think I understood your basic idea, this is not a classical NFT, it will be a new type of NFT that differs from the previous one, based on the “signature chain” and not just the old address. Perhaps this new style will be popular with Bitcoin fans in the future.
I read the discussions between you and franky1 it was really helpful to clarify the idea, you can make use of these discussions and objections to develop the idea later, if you succeed in that maybe this is the start of a new and unique type of NFT.
good luck

Yes, thanks, that you mentioned that someone could try to make an NFT out of it. We don't have a classical NFT here, but this 'signature chain' works and could become something  who knows? Mabe we have something like 'cryptopunks' in the making. At the beginning people didn't understand blockchain & NFT too.

I am glad that I inspired you with this idea. Working on it will not be easy and it will be difficult to understand at first, but it seems to me a really promising idea and your project can succeed.
Your discussion of the topic there shed a lot of light on the idea and I think it is starting to become more and more clear, you need to make one NFT at the beginning to try the results and see the advantages and disadvantages.
good luck

Yes, you got it  

'ownership' = to be the owner of the 'signature chain' that started with a certain address
And if this certain address is for example 12cbQLTFMXRnSzktFkuoG3eHoMeFtpTu3S (Satoshi's first transfer address) or the 'pizza address' it could have a value to be the owner of the signature chain. We have to test it.

Old empty addresses will get a new chance. I think they're valuable 

I think I understand completely.

My question is what does "ownership" in this system mean? What is the significance of "ownership" beyond simply controlling the address in the last signed message in the chain? How does it relate to the real world? How does it relate to the common definition of the word "ownership"?

In this 'NFT' project we call it 'ownership'. At the beginning, only the owner of the initial address is the 'owner'. If they sign a message where the message is the Bitcoin address of the new owner and send from the their Bitcoin address coins to the new owner's address (the message in the signature) then the holder/owner of the private key of this address is the new owner.

This works only if the initial owner signs a message and sends BTC to the new address. Then the 'ownership' isn't shared as another signature of the previous owner to another address + transaction to this address wouldn't be accepted by the participants as the rules are: the first transaction on the blockchain from an address is valid. All transactions thereafter don't count, are valueless. (We will have an initial block number, whereafter this will be valid.)

I know, it is a bit difficult to understand/explain because we don't have examples on the blockchain but they're on their way. To explain blockchain was difficult too, but once understood and saw it working, people got it.

The transfer does not include the private key for the address, so how can it be claimed that ownership of the address has been transferred? Furthermore, even if the private key is also transmitted, then ownership is only shared and not transferred because the previous owner still has the private key.

Thanks.

Updated 'how it works'. Would be glad to hear your comments  

Interesting. I am following the development. Let's see how it works.

--reserved for signatures and for further notices--




block 1,018  -  19/Jan/2009 10:41 AM UTC  -  'signature chain' ID: 1NChfewU45oy7Dgn51HwkBFSixaTnyakfj - #1


block 128,482  -  04/Jun/2011 03:54 AM UTC  -  'signature chain' ID: 1H3TAVNZFZfiLUp9o9E93oTVY9WgYZ5knX - #2


block 765,894  -  04/Dec/2022 07:19 PM UTC  -  'signature chain' ID: 1NCLNyKPGjx2GwdRSPB5xqfy58WtGtgNgo - #3


block 766,041  -  05/Dec/2022 08:12 PM UTC  -  'signature chain' ID: 1234n5z7EmsNaibnybrRi3YbBEPBgCAMbC - #4


block 766,050  -  05/Dec/2022 10:22 PM UTC  -  'signature chain' ID: 1MAP7AKiN5Ddce82VE8eFheFfyQ8iffvmV - #5


block 766,072  -  06/Dec/2022 12:46 AM UTC  -  'signature chain' ID: 1PiN2bq1xLXt8Jb4XnJRwWfVEmTfcGM8iV - #6


block 767,374  -  14/Dec/2022 10:58 AM UTC  -  'signature chain' ID: 1Not1fWnZwiKJe4GKa9GujV2PXypYuxXkZ - #7


block 776,230  -  12/Feb/2023 09:04 PM UTC  -  'signature chain' ID: 1DUdEjKdyFdpw9K4w23bPGLmCyK3BnuBYC - #8



block 776,230  -  12/Feb/2023 09:04 PM UTC  -  'signature chain' ID: 1By1a6KCFNneEf3MawrYdNcWMzwVZMPVz5 - #9



block 776,230  -  12/Feb/2023 09:04 PM UTC  -  'signature chain' ID: 1DjccyvVCfYY6U18fM84XFcF9uyqkrAdJm - #10

how it works - will be updated


'signature chain' rules


Only legacy addresses that start with '1' and had at least one incoming transaction that is on the Bitcoin blockchain can become a 'signature chain.'

Some addresses don't have outgoing transactions, these are valid too.

Addresses can be compressed or uncompressed.

There is no upper limit for the number of incoming or outgoing transactions.

The private key holder of such an address can start a 'signature chain.'

The starting address is the ID (or the name) of that 'siganture chain.'

The blocktime of the first incoming transaction of a given address indicates the 'siganture chain age.'

The ownership transfer happens through 'transfer signatures' + 'transfer transactions.'

'Transfer signatures' are message signatures, where the message is the Bitcoin address of the new owner.

Anything else than the address of the new owner in the message would make the transfer signature invalid.

A transfer signature is only valid if there is a transfer transaction.

A transfer transaction is a transaction from the address of the old owner to the address of the new owner and the value is not important (can be dust).

The transfer transaction can contain more than one input (from the old owner) but it is only valid if it has exactly 1 output (to the new owner).

The new owner is now the sole owner of the 'signature chain' and can transfer this to a new address who will become the next owner.

Only unused/empty legacy addresses starting with '1' can receive 'signature chains.'

It is important to store the signature history of the 'signature chain' as the new owner needs it to verify the ownership.

If a 'signature chain' was transferred to an address, any outgoing Bitcoin transaction from that address thereafter would indicate the transfer of the 'signature chain'. So it is recommended to have a separate Bitcoin address for 'signature chain' transactions.

A Bitcoin address can hold only 1 'signature chain.' (if an address holds one 'singature chain' and receives another one, then the new one is not valid and the sending address will remain the owner)

Any address that received Bitcoin from a legacy address after the initial block (see below) can't receive a 'signature chain' if there is only 1 transaction output as the received Bitcoin could be a 'siganture chain' transfer that will be revealed later by the owner. Therefore it is recommended to use a new legacy address to receive a 'signature chain.'

The first 'siganture chain' of the project (1NChfewU45oy7Dgn51HwkBFSixaTnyakfj transfers the 'signature ownership' to 1E9YwDtYf9R29ekNAfbV7MvB4LNv7v3fGa) doesn't need a transaction (by definition it is the initial signature like Bitcoin block 0). All other 'transfer signatures' need 'transfer transactions' to be valid.

Invalid 'signature transactions' can be on the blockchain. But they will be treated as not happened.

Valid after block 765779 (03/Dec/2022 11:04 PM UTC) txid 16bb6761cc8d7d393d25a88ec589361c1f0461a9c138ecc2333b0736efe488de = initial transfer (example below)



Example:

we have a signature that 1NChfewU45oy7Dgn51HwkBFSixaTnyakfj transfers the 'signature ownership' to 1E9YwDtYf9R29ekNAfbV7MvB4LNv7v3fGa

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'signature chain' - a new type of 'NFT' on the Bitcoin blockchain

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.

Don't use these addresses for your private/own transactions. These are just for 'signature chain' transactions. You don't need to transfer the 'signature chain' immediately after purchase. You should understand how it works before transferring it. But if you believe in that project, you can get it now.

Rarity: 'signature chains' that start with early used addresses but also early created 'siganture chains' in that project. We are very early (13/Feb/2023).
 

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How this started:

Recently there was a post with signatures, that used a key of a very old (January 2009) Bitcoin address.


The discussion was "is it Satoshi or not, who is it" and so on.

Then the user yhiaali3 mentioned that it could be used to create an NFT.


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 ---