This is not going away so fast. They're attaching a json to input witness and a centralized indexer to pretend they're actually "minting" and transferring shitcoins. If it catches on, they're not going to stop at even 1000 sat/vb if the imaginary shitcoins have greater pretend value to make it profitable. They're already making pretend liquidity pools.
105 bitcoin fees last 144 blocks
Hope this wakes people up to the fact we need CF and STARKs pronto. Bitcoin is not ready for a billion users. Lightning is not either unless you want everyone to use custodial accounts.
Altcoins are counterfeit. Bitcoin requires proof of work. Everyone plays by the same rules. Printing your own money costs nothing. Premine, sell a portion of it, pay VCs and marketing agencies to promote it.
They're very detrimental to Bitcoin as normies are not sufficiently informed to know the difference and Bitcoin is tainted by association. Anyone enabling this negative feedback loop of fraud and grift is standing in the way of the only chance we'll ever have to fix money.
This ordinals brc20 crap is an attack that bypasses spam protection on #Bitcoin using an external indexing scheme where they attach a json to input witness data to "mint", track and transfer sats pretending that they're shitcoins.
It's a lot less data than inscribing images and with the 4× witness discount, not only are they paying 4× less than economic transactions, but if they manage to pump these shitcoins to ridiculous values, it could be profitable even at 1000 sat/vB fees.
Even more sobering to think we come and go none the wiser as to why we're here. A persistent, rudderless consciousness for as long as it lasts.
Degens inscribing text files and trading sats pretending they're shitcoins
Miner fees yesterday - 71 #bitcoin
friend at consensus… looking scarce, bear market for scams I guessI'd like to say let's compare with Bitcoin mag conference but that's a shitcoin conference too
Setting up a #lightning address should not be any more complicated than generating your #nostr keys.
Thus far, only nostr:npub1current7ntwqmh2twlrtl2llequeks0zfh36v69x4d3wmckg427safsh3w has solved this problem.
Entrepreneurship vs rent seeking
I think I've seen a few (maybe bookmarked on my PC). Will have a look. This is a good resource but it's not a 1 pager
PoS has nothing to do with bitcoin. It was proposed in 2011 on Bitcointalk as a way for companies to issue shares and prevent outside influence. The term bLoCkChAiN was never originally mentioned by Satoshi.
