tl;dr after digging into the Ordinals “spam” debacle:
1) This has been possible since SegWit
2) Taproot didn’t enable this, it just made it (very) slightly easier and cheaper
3) Prepare for the FUD as proponents of Bitcoin’s early ossification try to weaponize this w/o nuance— Seth For Privacy (@sethforprivacy) February 3, 2023
We can have NFTs and collectables on Bitcoin without spamming/attacking the network.
Taproot actually makes this even easier; the “tapscript” could be a new kind that refers to a torrent magnet instead of a script, and the spend on-chain doesn’t need to add any data.
— @LukeDashjr@BitcoinHackers.org on Mastodon (@LukeDashjr) February 3, 2023
Stay on top of crypto news, get daily updates in your inbox.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Source: https://decrypt.co/120573/bitcoin-nft-mints-rising-transaction-fees
- 000
- 1
- 11
- 2014
- 420
- 9
- a
- About
- Absolute
- According
- activity
- actually
- added
- advocate
- affecting
- After
- allows
- Amid
- amount
- and
- apparent
- around
- artwork
- Assets
- average
- Bitcoin
- Bitcoin Blockchain
- Bitcoin maximalists
- Bitcoin Network
- Bitcoin Transaction
- Block
- Block size
- blockchain
- blockchain data
- blockchains
- Blocks
- BTC
- call
- Chart
- closer
- committing
- Completed
- content
- continuing
- controversial
- could
- crypto
- Crypto News
- curated
- daily
- Dark
- data
- day
- debate
- December
- decentralized
- decentralized network
- Decrypt
- determined
- Developer
- digital
- Digital Assets
- Dune
- during
- Early
- easier
- effect
- enable
- Ethos
- Even
- Exclusive
- explained
- external
- fee
- Fees
- Figure
- Files
- fit
- Friday
- from
- FUD
- Fuel
- full
- further
- get
- Give
- Go
- Group
- Growing
- Hashrate
- High
- highest
- How
- However
- HTTPS
- in
- included
- Including
- Increase
- increasing
- index
- instead
- internal
- IT
- January
- January 24
- JPEGs
- Keen
- Kind
- landing
- largest
- Late
- launch
- launched
- leading
- Led
- Lets
- linked
- long-standing
- Look
- made
- mainnet
- MAKES
- mark
- marked
- Mastodon
- Media
- membership
- minimum
- mint
- minted
- Monday
- Month
- more
- Movies
- Music
- nearly
- Need
- network
- New
- news
- NFT
- NFTs
- number
- On-Chain
- original
- Other
- Others
- overall
- ownership
- Pay
- People
- percentage
- periods
- physical
- plato
- Plato Data Intelligence
- PlatoData
- possible
- practice
- Prepare
- privacy
- process
- project
- projects
- provably
- Prove
- public
- public blockchain
- Push
- put
- raise
- Rate
- reached
- reason
- recorded
- refers
- responsive
- result
- Reward
- Rise
- Said
- seeing
- sentiment
- Share
- should
- Shows
- since
- Size
- sizes
- So
- some
- Space
- spam
- speed
- spend
- support
- synonymous
- taproot
- The
- The Block
- their
- this week
- three
- Through
- times
- to
- top
- topped
- Torrent
- Total
- traffic
- transaction
- Transaction Fees
- Transactions
- unique
- Updates
- upgrade
- use
- User
- users
- value
- via
- volume
- Wednesday
- week
- whether
- which
- while
- WHO
- without
- worth
- Your
- zephyrnet