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Topic: Those %$@#& ordinals, how popular are they? (Read 136 times)

legendary
Activity: 3444
Merit: 3469
Crypto Swap Exchange
usefulness of opreturn vs script.. well script is just treated as appended junk data to end of tx thats not blockchain ruled associated with any unspent utxo of said same tx.. however opreturn is just dead immovable(unspendable) junk data too, just with limited space.. in short, both worthless
We certainly cannot ignore the fact that they occupied a part of Bitcoin history, regardless of whether they ended up in the trash. I can't say that I feel bad about it, I'm quite against the tokenization of the Bitcoin network.
jr. member
Activity: 70
Merit: 0
As a general rule of thumb, I would expect the "first" or early Ordinals to retain some value as collector's items whereas the rest will trend to zero along with 99.9% of all other NFTs. How many are considered to be early? Honestly I'd say the 1st 10,000 or so. It sounds like a lot but most of these aren't gonna be up for sale. There will always be a market for at least some of the early ordinals, especially those with single to triple digit inscription numbers.

Totally.
Just like with the memes, only the first going onto the board would be able at least to come off unscratched.
Others are going to the sharks  Grin Though I never looked at Runes closely.
legendary
Activity: 4270
Merit: 4534
popular?.. not much, if any..
people need to realise its only a couple idiots creating all this junk, its not millions of individuals
what they do is they set up a false market. sell crap to themselves to st a fake price and hope scam victims then buy the crap from them ..

when a couple scam victims do buy this fake crap, this justifies them wasting fee's to create more junk to scam more people
..

usefulness of opreturn vs script.. well script is just treated as appended junk data to end of tx thats not blockchain ruled associated with any unspent utxo of said same tx.. however opreturn is just dead immovable(unspendable) junk data too, just with limited space.. in short, both worthless
legendary
Activity: 3010
Merit: 8114
October 31, 2024, 11:11:52 PM
#8
As a general rule of thumb, I would expect the "first" or early Ordinals to retain some value as collector's items whereas the rest will trend to zero along with 99.9% of all other NFTs. How many are considered to be early? Honestly I'd say the 1st 10,000 or so. It sounds like a lot but most of these aren't gonna be up for sale. There will always be a market for at least some of the early ordinals, especially those with single to triple digit inscription numbers.
legendary
Activity: 3752
Merit: 2667
Evil beware: We have waffles!
October 31, 2024, 09:37:14 PM
#7
How popular are they? Enough that some fools are spending $$$$ on them - Block 868188 had 10.442 BTC in fees and the few before and after it were nothing to sneeze at either...
jr. member
Activity: 58
Merit: 44
October 31, 2024, 07:01:36 PM
#6
Actually Ordinals use Taproot's redeem script, while Runes use OP_RETURN. But both of them created by Casey Rodarmor.

I don't care. It's all shitcoinery to me.
My hope is that those shitcoiners lose a lot of money and end up walking away from bitcoin. Go back to the kiddy table. Grown ups don't have time for them.
I listened to Rodarmor on a few podcasts. The guy is an idiot, or trying to be seen as an idiot.
sr. member
Activity: 420
Merit: 315
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October 31, 2024, 05:09:20 PM
#5
But I understand that an OP_Return tx can be a valid non-ordinal transaction, but an ordinal is always an OP_Return tx.

Actually Ordinals use Taproot's redeem script, while Runes use OP_RETURN. But both of them created by Casey Rodarmor.

Why, exactly, did he want to revert to using OP_RETURN for Runes after Taproot's redeem script was doing very well for Ordinals at the beginning?
Because implementing via OP Return is simpler and would boost adoption since most individual are familiar with the script code.

Quote
So how much room are ordinals taking up on an average block?
It depends on the popularity and network activity at the period
The more the interest
The higher the space occupied.
It can be checked in Block explorer.
jr. member
Activity: 58
Merit: 44
October 31, 2024, 03:28:22 PM
#4

IIRC nobody use either Ordinals or Runes to manage real estate. Those usually used to create NFT, token or add arbitrary data.

I didn't mean real estate in terms of buildings and land, but in terms of block space.
legendary
Activity: 1568
Merit: 6660
bitcoincleanup.com / bitmixlist.org
October 31, 2024, 05:05:48 AM
#3
But I understand that an OP_Return tx can be a valid non-ordinal transaction, but an ordinal is always an OP_Return tx.

Actually Ordinals use Taproot's redeem script, while Runes use OP_RETURN. But both of them created by Casey Rodarmor.

Why, exactly, did he want to revert to using OP_RETURN for Runes after Taproot's redeem script was doing very well for Ordinals at the beginning?
legendary
Activity: 2870
Merit: 7490
Crypto Swap Exchange
October 31, 2024, 05:03:09 AM
#2
Now, I don't understand what an OP_Return tx is for.

OP_RETURN is used to store arbitary data. It's used as measure to discourage people stop abusing address to store arbitrary data which create unspendable UTXO.

But I understand that an OP_Return tx can be a valid non-ordinal transaction, but an ordinal is always an OP_Return tx.

Actually Ordinals use Taproot's redeem script, while Runes use OP_RETURN. But both of them created by Casey Rodarmor.

So how much room are ordinals taking up on an average block?

Visit https://dune.com/cryptokoryo/runes and see chart "Share of transactions".

How much of a blockchain real estate problem are they, really?

IIRC nobody use either Ordinals or Runes to manage real estate. Those usually used to create NFT, token or add arbitrary data.
jr. member
Activity: 58
Merit: 44
October 30, 2024, 07:15:53 PM
#1
So those ordinals suddenly got very popular at the halveving, which caused fees to go way up for a little while. And on Mempool.space, you could see a lot of tx's were OP_Return tx.

And right now, fees are pretty good at around 4-10 SATs/vB. So I assume the ordinals craves subsided somewhat.

Now, I don't understand what an OP_Return tx is for. But I understand that an OP_Return tx can be a valid non-ordinal transaction, but an ordinal is always an OP_Return tx.

And so, we can pretty much visually gauge how many OP_Return tx's there are by clicking on each tx in a block. But that only tells me if a tx is OP_Return of not, it doesn't tell me if a tx is an ordinal or not.

So how much room are ordinals taking up on an average block? How much of a blockchain real estate problem are they, really?
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