Ordinals: Rare and exotic sats - page 2.

BBGC NFT

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Quote from: BBGC NFT on February 14, 2023, 02:20:20 PM

This development is amazing. Look, what I posted back in December 2021:

Quote from: BBGC NFT on December 19, 2021, 07:21:39 AM

~
If you can bring NFTs to the Bitcoin blockchain, I will bring back my 2015 'NFTs' to your project.

My project BBGC Bitcoin Blockchain Gold Coin contains 58 NFTs (simple 32 x 32 pixel coin pictures) that started in 2015 on the Bitcoin blockchain, 2 years ago continued on the Ethereum blockchain and now should come back to the Bitcoin blockchain

You can read the short story about the project here: https://bbgc58.wordpress.com/

Quote from: nutildah on February 09, 2023, 02:18:57 PM

This is by far the most interesting thing happening in Bitcoin at the moment ...

Yes nutildah, this is exactly what my project was waiting for. Back in 2015 there were no good possibilities and on the Ethereum network a Bitcoin NFT Huh

They are on OpenSea at the moment https://opensea.io/collection/bbgc-bitcoin-blockchain-gold-coin ... I have to check what can be done to bring them back. If you have some suggestions, please tell me.

Maybe I should start a project thread to bring them back.

Created the first item out of 58 ... BBGC '1' as Inscription #152184 ... https://ordinals.com/inscription/cacc83142fc3f0d27378f0245e7139721e423b5db074c344602bee4eed4511dfi0

BBGC NFT

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Quote from: Kakmakr on February 15, 2023, 02:06:19 AM

So, what happens if those satoshi's go through a mixer service..

You can't mix them like a "coin-mixer". If you have a transaction, you have inputs and outputs (including fees) and the definition of ordinals says: which satoshi came in first is the satoshi that comes out first, second satoshi that comes in is the second satoshi that comes out and so on. So we know exactly who is who

Kakmakr

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Just when I thought I had seen it all, you come here and you post about a concept that I have never heard of before... thank you for posting about "ordinals" ... I am now going to take some time to read up on this. Wink

So, in theory..... every Satoshi will have a serial number linked to it... right? So, what happens if those satoshi's go through a mixer service..after it was handled by some celebrity or linked to some major event?

BBGC NFT

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Quote from: NotATether on February 14, 2023, 02:53:03 AM

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Do you remember your Counterparty NFTs that you made some time ago? Perhaps you can now port them into an ordinal form.

This development is amazing. Look, what I posted back in December 2021:

Quote from: BBGC NFT on December 19, 2021, 07:21:39 AM

~
If you can bring NFTs to the Bitcoin blockchain, I will bring back my 2015 'NFTs' to your project.

My project BBGC Bitcoin Blockchain Gold Coin contains 58 NFTs (simple 32 x 32 pixel coin pictures) that started in 2015 on the Bitcoin blockchain, 2 years ago continued on the Ethereum blockchain and now should come back to the Bitcoin blockchain

You can read the short story about the project here: https://bbgc58.wordpress.com/

Quote from: nutildah on February 09, 2023, 02:18:57 PM

This is by far the most interesting thing happening in Bitcoin at the moment ...

Yes nutildah, this is exactly what my project was waiting for. Back in 2015 there were no good possibilities and on the Ethereum network a Bitcoin NFT Huh

They are on OpenSea at the moment https://opensea.io/collection/bbgc-bitcoin-blockchain-gold-coin ... I have to check what can be done to bring them back. If you have some suggestions, please tell me.

Maybe I should start a project thread to bring them back.

nutildah

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Quote from: NotATether on February 14, 2023, 02:53:03 AM

Do you remember your Counterparty NFTs that you made some time ago? Perhaps you can now port them into an ordinal form.

If you mean the forum NFTs, the token metadata points to a small JSON file already stored on another blockchain (Arweave). AFAIK the current Ordinals explorer only displays media files. So while I could inscribe a JSON file and attach it to an ordinal its contents wouldn't display on the explorer.

Counterparty users are looking for a way to host the image data for their tokens as an inscription but its a matter of getting the xchain explorer ready to read it as part of a token description.

One of the coolest experiments I've seen so far is called Rare Ordinals, where ordinals are being tokenized on Counterparty to leverage its market system (dispensers & DEX).

I've heard a market for ordinals is in development.

NotATether

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How exactly does one go about and create an Ordinal? (specifically, how does someone use ord after they install it?)

Quote from: nutildah on February 09, 2023, 02:18:57 PM

This is by far the most interesting thing happening in Bitcoin at the moment, and except for a couple uppity threads where the usual ninnys are yelling at it, almost zero recognition on the Bitcoin Forum for the accomplishment of bringing so much newfound attention to bitcoin. Its just not a subject that is conducive to sig spamming, hence the relative silence.

Do you remember your Counterparty NFTs that you made some time ago? Perhaps you can now port them into an ordinal form.

mendace

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The use of Satoshi serial numbers or ordinals, as you've described in your implementation, could potentially lead to increased data being stored on the Bitcoin blockchain, which could in turn lead to increased size of the blockchain and increased resource requirements for nodes. This could be a concern for some users of the Bitcoin network, particularly if the size of the blockchain grows significantly over time

ABCbits

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@rodarmor i wanted to try Ordinals on Signet, but i saw few report which state indexing process is very slow[1-3]? Do you think it's viable to use HDD in this case?

Quote from: BlackHatCoiner on February 10, 2023, 04:41:07 PM

Quote from: digaran on February 02, 2023, 03:09:39 PM

Didn't miners do this fee manipulation trick a few years back bumping the fees up to $50?

Since when miners are capable of forcing or manipulating you pay more?

There's theory where multiple pool could work together to manipulate people to pay more TX fee by filling unused part of their block with their own transaction or arbitrary data. There's extreme version where they attempt to make congestion.

[1] https://github.com/casey/ord/issues/1648
[2] https://github.com/casey/ord/issues/1377
[3] https://github.com/casey/ord/discussions/1619

rodarmor

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Thank you nutildah! Getting such nice kudos on Bitcoin Talk is honestly a sweet milestone. These threads are feeling pretty legendary to me, especially the one I necro-posted to after a 10 year haitus.

nutildah

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Quote from: goldkingcoiner on February 10, 2023, 01:10:41 PM

The idea of rare and more valuable Satoshis (in terms of NFT collections) has been going around a lot but I have yet to see any demand for them.... I could be mistaken...

The demand is huge. Some have already gone for multiple BTC. The thing is there is no marketplace for them so most sales are being done P2P.

To make up for this, some people have been depositing the Ordinals in an Emblem Vault where they are wrapped into an Ethereum ERC721 token. That way they can be sold on OpenSea. Sales there have been huge.

Emblem Vault sales blew up in the last 24 hours. You can see what they were on average prior to yesterday. The action is largely thanks to a series called Bitcoin Punks, which is just Ethereum Punks set against an orange background.

Crypto Twitter influencers got wind of it and Bitcoin Punks is now the latest NFT grift. No doubt after the pump is finished, prices will tank and the slowest among retail will be left holding the bag. None of that is rodarmor's fault, of course... just the way things go in this space.

digaran

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Quote from: BlackHatCoiner on February 10, 2023, 04:41:07 PM

Since when miners are capable of forcing or manipulating you pay more?

How long have you been around not knowing the answer?

Anyways, cool project, not going to use third parties.
Btw, what's with the rare.text? Couldn't load it on mobile and don't know what those numbers mean.
This also reminds me of the *radioactive tracking technology.

*= Don't know what that is? It's a CIA project.

BlackHatCoiner

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Quote from: digaran on February 02, 2023, 03:09:39 PM

Some facts and problems, with bitcoin being the leader in crypto, this could result in mass demand leaving normal transactions out the blocks, bumping the fees up.

Is that a problem, or a feature? When there's high transaction demand, there are high fees, regardless of whether you transfer hard cash or the image of a monkey.

Quote from: digaran on February 02, 2023, 03:09:39 PM

Didn't miners do this fee manipulation trick a few years back bumping the fees up to $50?

Since when miners are capable of forcing or manipulating you pay more?

Quote from: OgNasty on February 09, 2023, 12:14:36 PM

It seems like miners and developers have been at odds for years with developers using tricks and lies to get miners to do what they want.

The developers lie, the miners get to do whatever they want, they've been at odds, both groups rule bitcoin, why such conspiracy in one page?

goldkingcoiner

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This is really interesting. Although the success of this project is really only connected to how much demand there is for these rare and exotic Satoshis. But I think that most people who are not really developers do not yet perhaps understand the full potential of Ordinals or why they would be in demand in the first place. So, aside from the NFT nature of Ordinals, could there be any further use cases?

How would this complicate transactions? I assume people would be hesitant to transact unless they have no valuable Ordinals?

The idea of rare and more valuable Satoshis (in terms of NFT collections) has been going around a lot but I have yet to see any demand for them.... I could be mistaken...

gordonhill

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Any marketplace, or escrow service?

nutildah

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This is by far the most interesting thing happening in Bitcoin at the moment, and except for a couple uppity threads where the usual ninnys are yelling at it, almost zero recognition on the Bitcoin Forum for the accomplishment of bringing so much newfound attention to bitcoin. Its just not a subject that is conducive to sig spamming, hence the relative silence.

Congrats rodarmor, you earned it

https://ordinals.com/inscription/25aa0505380d746e9d32ba0108e9dbab4a4a3958912bafb046c3c9c71cef2f65i0

OgNasty

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Quote from: digaran on February 02, 2023, 03:09:39 PM

Quote from: OgNasty on January 31, 2023, 11:38:49 AM

I am still researching and learning about this project but I have to say that I absolutely love the responses to it from certain developers. It shows who is a control freak that only likes Bitcoin when it does what they want it to. Use the code for something they deem as not appropriate and suddenly Bitcoin isn’t free and open software but instead something you can only use how they want you to use it. For that reason I love it. Eat your heart out controlling devs. Miners aren’t going to do your bidding and censor transactions, but it’s cute of you to ask.

You are right, we should store whatever we want on bitcoin blockchain and pay the fees for it. That's called freedom, though at what cost?

Some facts and problems, with bitcoin being the leader in crypto, this could result in mass demand leaving normal transactions out the blocks, bumping the fees up. Didn't miners do this fee manipulation trick a few years back bumping the fees up to $50? Isn't there some shitcoin out there doing this NFT thing already?
Do the miners really think they control the network? Not theirs to decide alone, it's called consensus.

It seems like miners and developers have been at odds for years with developers using tricks and lies to get miners to do what they want. Now it seems that miners are giving core developers the finger and doing what they want. This is likely the result or prior said developer behavior and in my opinion is a must to restore balance to Bitcoin. I personally love it and think it is necessary.

digaran

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Quote from: OgNasty on January 31, 2023, 11:38:49 AM

I am still researching and learning about this project but I have to say that I absolutely love the responses to it from certain developers. It shows who is a control freak that only likes Bitcoin when it does what they want it to. Use the code for something they deem as not appropriate and suddenly Bitcoin isn’t free and open software but instead something you can only use how they want you to use it. For that reason I love it. Eat your heart out controlling devs. Miners aren’t going to do your bidding and censor transactions, but it’s cute of you to ask.

You are right, we should store whatever we want on bitcoin blockchain and pay the fees for it. That's called freedom, though at what cost?

Some facts and problems, with bitcoin being the leader in crypto, this could result in mass demand leaving normal transactions out the blocks, bumping the fees up. Didn't miners do this fee manipulation trick a few years back bumping the fees up to $50? Isn't there some shitcoin out there doing this NFT thing already?
Do the miners really think they control the network? Not theirs to decide alone, it's called consensus.

OgNasty

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I am still researching and learning about this project but I have to say that I absolutely love the responses to it from certain developers. It shows who is a control freak that only likes Bitcoin when it does what they want it to. Use the code for something they deem as not appropriate and suddenly Bitcoin isn’t free and open software but instead something you can only use how they want you to use it. For that reason I love it. Eat your heart out controlling devs. Miners aren’t going to do your bidding and censor transactions, but it’s cute of you to ask.

nutildah

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Quote from: rodarmor on December 20, 2022, 07:52:36 PM

An NFT implementation which embeds NFT content in Taproot witnesses, assigning them to the first sat of the first output of the transaction, "inscribing" that sat with content

Super interesting to watch the discussion over this bullet point in particular unfolding on Twitter as it now appears to be possible to upload several KB (theoretically up to ~4 MB) worth of data to the blockchain for the purposes of on-chain NFT storage.

https://ordinals.com/inscription/69d500051f9a0812ed41798eeb06d4af93349529480c23e9cf1ef0ccb2a921a8i0

On one side you have lukedashjr calling it an attack on Bitcoin and Adam Back calling for transaction censorship by miners; on the other side you have Peter Todd calling the "freakout" about ordinals "stupid" and reminding everyone that adding non-standard transaction data to transactions has always been possible.

It has reinvigorated the age-old debate of "appropriate use of block space," what "blockchain spam" entails, and whether Bitcoin should be used to store data not related to the actual transaction of BTC (for financial purposes).

Here is a brief overview of how it works as far as NFTs are concerned:

https://read.pourteaux.xyz/p/illegitimate-bitcoin-transactions

Of course the concept of adding non-standard data to the blockchain for other purposes already taken place via Omni and Counterparty for years. In 2014, JP Janssen encoded a thumbnail size image and placed it in a Counterparty transaction -- it is probably the first example of a tokenized, on-chain image.

But using Taproot to do it in this new manner is bumping up the storage capacity by one or two orders of magnitude.

Almost zero mentions of this debate here, so let's mention it.

buwaytress

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See, this is my confusion when it comes to units in Bitcoin, which led me to ask this question in this thread.

What I found out from responses there is that inputs are all combined anyway before being transmitted out -- so how do you then keep track of satoshis when mixed with other inputs? It's easy to track inputs if always sent whole and never combined with other inputs, but once consolidated, does this mean you lose their "serial"?

Topic: Ordinals: Rare and exotic sats - page 2. (Read 1032 times)