It is more an attack on susceptible people owning Bitcoin, who can buy JPEG with Bitcoin. Such people always existed and bought shitcoins with Bitcoin. Bitcoins moved to people who value them the most, that is actually a good thing for Bitcoin, isn't it?
https://void.cat/d/17WFPvpM5R9kY85uCVzKKs.webp
Currently banned on X so I cannot post this there.
However PLEASE PAY ATTENTION IF YOU CARE ABOUT BITCOIN!
NOTICE how willing "Bitcoin" magazine is to sell you a JPEG of Julian Assange to steal your bitcoin from you, all whilst CLAIMING that they do not promote the sale of this JPEG, while telling you how to get involved.
If you believe the team of this magazine is even SLIGHTLY important for Bitcoin you have been UTTERLY psyopped.
This is legitimately one of the largest attacks on the network, a lack of proper response that puts these SCAMMERS and EXPLOITERS in their place will hold Bitcoin back for decades.
#Bitcoin #nostr #plebstr #plebchain #drama #bitcoinmagazine #mainstream #psyops #attack
Discussion
No for several reasons.
1) the attack is using the bitcoin UTXO set as a medium without paying as much as regular financial transactions do for scripts and storage, making them 1st class citizens amongst regular bitcoin transactions. spam pays less than you do to get into the UTXO set.
2) the attack is moving satoshis that are underneath the dust limit, leading to these transactions being forced into the miner out of band transmission category. Thus miners are now more incentivised to include these transactions that bloat the UTXO set without paying their fair share into blocks than they are to include normal transactions like a consolidation for instance. A prime example of this is the 4mb printed by luxor that literally censored all fair paying normal transactions in order to print it into that block. all because they were bribed to.
3) The rise in median fee levels is being used specifically on times when Bitcoin adoption is happening to make it appear as if the Bitcoin network does not scale to handle regular p2p transactions. Such actual large scams like Solana are getting more attention because Bitcoiners dont care to be non-complacent about user experience being ruined by outright attacks on the network. Lightning pinning attacks are becoming easier to execute making lightning a weaker scaling factor. Even the liquid mempool is starting to undergo congestion and they are literally a centralized federation, not even they are able to scale away this issue.
So no when people outright scam people, spam the network, shittalk all the people supporting it, fund people like craig wright and BSV, and get everyone to turn a blind eye to it. That is NOT good for Bitcoin.
Let me ask you was the 7 billion Bitcoin bug good for Bitcoin? If so why was it hard forked out of the chain? I have never heard anyone rationalize that before, because its literally impossible. This is a similar situation, not the same but on the same level of obviousness if you are technically educated.
With fees currently at a relatively low level following a price surge, one might question if someone were to conduct a spam attack, wouldn't it make sense for them to execute it at this moment?
Although LN presents a promising solution, the challenge of pinning attacks remains unresolved. With a current capacity of 5000 Bitcoins, users are still willing to pay for on-chain transactions. The sequence appears to be: a higher price leading to increased demand for affordable transactions, subsequent growth in Lightning capacity, emergence of pinning attacks, and finally, the implementation of a solution. Ideally, resolution should precede any actual attack.
Addressing the 7 billion bug, unintended glitches should not be accepted, yet it differs from the situation with ordinals. A fair price is paid for inflating the UTXO set, with no discount for the transaction outputs section, except for segwit (signatures), which is not stored in the UTXO set.
For insights on "spam" transactions, refer to Andreas Antonopoulos's 2016 perspective. I concur with his viewpoints. 👀
Following is the key word there, if you pay attention during RETAIL price surges (ETF inflows are not valuable to attack for these actors) there are MASSIVE spam attacks and there have been for over 1 year now.
Your comment on lightning seems AI generated and irrelevant so I will ignore it.
"Glitches should not be accepted"
OK. So why do we allow inscriptions to have scripts in the OP_RETURN without paying for them? That is a literal glitch. It's a bug. It needs to be FIXED or else the network turns scammy spammy unintended UTXO bloat into FIRST CLASS CITIZENS ON THE NETWORK.
If you cannot properly summarize your own viewpoints and instead rely on a 9 year old antonop video to do it for you just admit you are under educated on the topic and don't engage.
My comment on lightning was not AI generated.
Antonopoulos is just right here and nothing has changed unless you prove otherwise. Whoever overbids others in a block, gets into the block. Everyone pays by the same rules, the discount is on signature part in case of using segwit, not on output part. Additionally, op_returns are not stored in utxo set, so they actually don't inflate anything, just spend space in blocks, which is fine if they pay enough. And they do pay a lot!
Can you provide an example of a transaction where ordinals unfairly gained an advantage in inflating the UTXO set by inserting a script into OP_RETURN, please? This seems nonsensical to me.
I'll set aside your judgment on my education for the moment. If you aim for your messages to carry influence, consider working on cultivating a more polite tone first.
Literally EVERY SINGLE INSCRIPTION NOT JUST ORDINALS is a first class citizen compared to your normal Bitcoin transaction, this is publicly visible data. You only need to know how the OP_RETURN discount in segwit works with datacarriersize. If you do not understand that I cannot help you.
datacarriersize affects standardness, not consensus rules, so if there is any unfair advantage related to this parameter, it is on relay step. If you consider this unfair, all you can do is changing the parameter locally, so your node doesn't relay or broadcast such txs, but other miners can still mine such transactions and you have to accept them, otherwise it is a fork. Anyway, my transactions pass and mine, so I don't care if their transactions mine as well, if they satisfy the consensus rules. You think their transactions should not be mined? Justify this, otherwise it is just an arbitrary censorship. Preventing them from relaying seems useless, since they already cooperate with miners.
Fuck you, kiss my ass, you think I care about being polite? Dont be a fucking retard how about that. Pussy.
I see that your purpose is just trolling!
SAYS THE FAGGOT WHO IS UNABLE TO REBUT A SINGLE CLAIM SO HE STICKS TO VIRTUE SIGNALING AS A PURITAN, SUCK MY BALLS SHITCOINER. SUCK MY #BITCOIN BALLS
You are the troll here. Propose how to fix the "problem" and I explain why your "solution" sucks.
LMFAO you think im gonna waste time on some RETARD who SUPPORTS SHITCOINS and is COMPLACENT enough to think that THE PATCH THAT LITERALLY REMOVES THE DISCOUNT wont work. YOU ARE FUCKING RETARDED. Jump off a cliff
The patch won't work. I don't support the shitcoins, but I know how to work around a patch you have in mind and I will help people to do it, just to fuck you and teach to be more polite!
Its funny how you say hes right but you literally cannot put it into your own words making whatever he may or may not be right about utterly useless because you have proven you do not fully understand the situation enough to explain it.
He is better in explaining than me. It is enough that I understand his reasoning. Your reasoning doesn't sound good to me and it doesn't look that anyone is going to make a consensus change or something to punish ordinals. Maybe because you and your clique are not polite, maybe because you are just wrong. I think it is both :) Learn how to speak to people, then open your mouth 😺
"Whoever overbids others in a block, gets into the block"
Yes and now thanks to centralization and idiocy spammy scammy inscription shitcoins cost less to include than an honest transaction, thank you for proving my point.
No, they don't. Additionally, you've shifted your thesis. Initially, you claimed they have an unfair advantage in inflating the UTXO set, which would be problematic if true. Now, you've changed the topic to block space instead of the UTXO set. Firstly, there's a significant distinction since I store the UTXO set on SSD and the blocks directory on HDD, which is more cost-effective. Secondly, when I send transactions, I receive a discount for SegWit data. They might leverage it more for a greater discount, but it's still fair as it follows the same rule for everyone. I also gain an advantage over someone using legacy addresses and overpaying for each transaction. They deserve it, and so do I. It's fair!
If you think UTXO set space and block space are not interconnected you are retarded, I already figured you were though so thats no surprise.
Strowman. I didn't say they are not interconnected. The price of 1byte in block and 1byte in utxo set is very different for node operators, that's the point. Why did you brought utxo set issue in the first place then?
IT AFFECTS THE UTXO SET TOO YOU IMPOTENT RETARD
It doesn't affect utxo set size.
Oh yea durr these UTXOs are just magically stored in my ass I forgot
Another strowman
Coming from a dude who cant even spell straw-man, the fact that you are so incessantly and feverishly lying to my face to defend your shitcoins just proves im correct. Keep proving me right bozo
literalism
awww little baby got defeated on every argument now has to reach for logical cliches he also could not fully explain even if he tried? you are so cute and the rest of you ordinal supporting shitcoiners are too. cute dumb illogical and losing all your bitcoin to scams.
You are the one who proposed censorship. Justify it or fuck off
LMFAO he said imposing fair cost to overriding datacarriers is censorship, while spamming strawman and not being able to identify it. You Illogical fucks are so ironic it hurts.
What do you mean by cost of overriding datacarrier? Changing the option value has zero cost and zero effect of ability of miners to mine ordinal transactions.
Literally every single point you have made is completely incorrect, can you just fuck off already you fucking bozo
They are correct. And the consensus is not going to change, get it, unpolite troll!
Fuck you bitch I DONT GIVE A SINGLE FUCK about your stupid shitcoiner feelings, dig a ditch and die in it for all I care you uneducated concern troll. Our patch will make your shitcoins die out faster than BSV delisted from every exchange worth a dime.
You also just proved my point by admitting they leverage SOMETHING THAT WAS NOT PUSHED THROUGH PUBLIC KNOWLEDGE AND HAS BEEN IDENTIFIED AS AN EXPLOIT to gain a discount at the storage level on archival nodes which are literally vital for running the network properly.
THANK YOU FOR PROVING MY POINT
No one exploit here. Otherwise the whole segwit is an exploit. You get an advantage over a fair legacy wallet user, who pays the whole price. Stop using segwit and taproot addresses, then bark on other people using segwit discount!
Nope normal segwit scripts under 42 bytes dont get the same level of script discount, try to pay attention
Who defines what is normal? People are free to write custom scripts, that is the whole purpose of having script language there.
I literally just defined it, under 42 bytes CURRENTLY it recieves a fair discount. Above 42 bytes and it pays nothing for datacarrier scripts. The patch would make it so all overriding datacarriers pay the same amount. So plain and simple. Your points are completely baseless.
Well, I don't consider you an authority and fuck your definition in mouth. Who are you to tell everyone what transactions to send?
LMAO coming from the guy spamming strawman, reaching for the "muh puritan transaction" argument. This is about fair use of the network, you obvious shitcoin supporter. We are coming for you. Stay scared. Shit yourself why dont you.
😂
stay scared of the patch faggot, aww too impolite for the shitcoin scammer?
Why to be scared? A patch has 0 chances of adoption. Also there are ways to spam even without the discount. Senders have enough VC money to burn, they don't care about the discount. Let them feed the miners.
"Additionally, op_returns are not stored in utxo set"
Yes they are, they are not included in the utxo id held by pruned nodes sure, that doesnt mean truly full nodes are not storing the OP_RETURNS they are and at an unfair unwanted discount that should be removed given Bitcoin succeeds as a global currency.