Nostr Web Client

I'm still trying to orange pill the NFT fans, but as a result, I'm seeing more and more where they are coming from. I don't like NFTs, nor do I like Ordinals, but I cannot tell them how to use Bitcoin. I'm happy they're using Bitcoin and I'm going to do my best to help them run full nodes and understand Bitcoin.

Kman 2y ago

Taproot was a huge mistake. The functionality that was gained by the soft fork doesn't offset this "unforeseen" exploit caused by Taproot. And unfortunately a lot of people in this space can't come to terms they messed up, royally, by pushing Taproot though.

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Discussion

utxo the webmaster 🧑‍💻 2y ago

There were NFTs on bitcoin before taproot though, segwit enabled it.

Kman 2y ago

Yes, I know. But they didn't do it by exploiting Taproot.

utxo the webmaster 🧑‍💻 2y ago

So by that logic was segwit also a mistake? They exploited segwit now they exploit taproot.

Kman 2y ago

Nope. The Taproot exploit allows ordinal folks to do transactions up to 4x less than everyone else. The Taproot exploit is much worse.

nobody 2y ago

Why tho? I'm not closed... I'm open minded. But what's the harm with people being able to add data or inscriptions. Or maybe just tell me the worst case scenario...

Kman 2y ago

Because they aren't paying the same transaction fee structure as everyone else. They are using a Taproot exploit to pay up to 4 times less per transaction as everyone else.

Omekau 2y ago

Doesn’t Taproot enable multi sig? That alone seems pretty valuable.

Kman 2y ago

Would Taproot have passed consensus if this exploit was discovered before the soft fork?

Omekau 2y ago

Fair point. Likely not.